The global epoxy curing agents market is a dynamic sector witnessing substantial growth. Epoxy curing agents play a crucial role in transforming liquid epoxy resins into durable, high-performance solids. Industries such as electronics, automotive, and others extensively utilize epoxy systems for their exceptional adhesion, chemical resistance, and mechanical properties. The market is characterized by a wide range of curing agents, including amines, anhydrides, and others, catering to diverse application needs. As industries evolve and demand for advanced materials rises, the global epoxy curing agents market is anticipated to witness continued expansion and innovation.
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Data Bridge Market Research analyses that the Global Epoxy Curing Agents Market, which was USD 4.11 billion in 2022, is expected to reach USD 6.30 billion by 2030, and is expected to undergo a CAGR of 5.48% from 2023 to 2030. Fueled by urbanization and infrastructure growth, the thriving construction industry propels the demand for epoxy-curing agents. Vital in applications such as adhesives, coatings, and sealants, these agents contribute to the sector's development by providing durable and high-performance solutions for diverse construction needs.
Key Findings of the Study
Increasing aerospace applications is expected to drive the market's growth rate
Epoxy-curing agents are indispensable in aerospace, offering essential contributions to lightweight and durable solutions. As the global aerospace industry expands, the demand for these agents rises. Their pivotal role in manufacturing components with high performance and structural integrity positions epoxy curing agents as key enablers in meeting the stringent requirements of the continually growing and advancing aerospace domain.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2020 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Diluents, Accelerators, Adhesion Promoters, Specialty Resins, Additives, Others), Product (CycloAliphatic Amines, Aliphatic Amines, Polysulfide, Water Borne Curing Agents, Low Emission Curing Agents, Polyamides, AmidoAmines, Phenolics, Mercaptans, Phenalkamide, Polyamido-Amines, Phenalkamine, Low Temperature Curing Agents, Metaphenylene Diamine, Methylene Dianiline, Anhydrides, Latent Curing Agents, Others), Applications (Coatings and Inks, Adhesives and Sealants, Composites), Industry (Automotive, Aerospace, Building and Construction, Electrical, Electronics, Industrial, Marine, Oil and Gas, Paints and Coatings, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
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Market Players Covered
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Hexion Inc. (U.S.), Olin Corporation (U.S.), Huntsman Corporation (U.S.), BASF SE (Germany), Cardolite Corporation (U.S.), Aditya Birla Chemicals (India), Kukdo Chemical Co., Ltd. (South Korea), Mitsubishi Chemical Corporation (Japan), Evonik Industries AG (Germany), Atul Ltd. (India), Cargill, Incorporated (U.S.), Air Products and Chemicals, Inc. (U.S.), DIC Corporation (Japan), Momentive Performance Materials Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global epoxy curing agents market is segmented on the basis of type, product, application and industry.
- On the basis of type, the global epoxy curing agents market is segmented into diluents, accelerators, adhesion promoters, specialty resins, additives, and others. Diluents segment is expected to dominate the market with a 39.72% market share because of maintaining thermal stability which has widened its application in each and every industry such as construction, automotive, and others
- On the basis of product, the global epoxy curing agents market is segmented into cycloaliphatic amines, aliphatic amines, polysulfide, water borne curing agents, low emission curing agents, polyamides, amidoamines, phenolics, mercaptans, phenalkamide, polyamido-amines, phenalkamine, low temperature curing agents, metaphenylene diamine, methylene dianiline, anhydrides, latent curing agents and others. Cycloaliphatic amines are expected to dominate the market with an 18.32% market share because of the huge demand for products that can maintain cartilage health
The cycloaliphatic amines segment will dominate the product segment of the epoxy curing agents market
The Cycloaliphatic amines are expected to dominate the market with an 18.32% market share because of the growing demand for epoxy-curing agents, especially in developing economies. Further, the growth and expansion of research development services on a global scale will bolster the growth of this segment.
- On the basis of application, the global epoxy curing agents market is segmented into coatings and inks, adhesives and sealants, and composites
- On the basis of industry, the global epoxy curing agents market is segmented into paints and coatings, building and construction, automotive, electrical, industrial, oil and gas, marine, aerospace, electronics, and others. Automotive is expected to dominate the market with 24.85% market share growth due to the region's high availability of raw materials
The automotive segment will dominate the industry segment of the epoxy curing agents market
The automotive segment will emerge as the dominating segment in the industry with approximately 24.85% market share. This is because of the growing number of infrastructural development activities in the market, especially in the developing economies. Further, the growth and expansion of the semiconductors industry all around the globe will bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major global epoxy curing agents market players in global epoxy curing agents market are Mitsubishi Chemical Corporation (Japan), Evonik Industries AG (Germany), Atul Ltd. (India), Cargill, Incorporated (U.S.), Air Products and Chemicals, Inc. (U.S.), DIC Corporation (Japan), Momentive Performance Materials Inc. (U.S.)
Market Developments
- In August 2023, Toppan, Mitsui Chemicals Tohcello, and Mitsui Chemicals initiate pilot tests for horizontally recycling printed BOPP film into innovative flexible packaging. This collaborative venture aims to pioneer recycling technologies and build essential infrastructure. The project addresses sustainability challenges by repurposing printed BOPP film, contributing to a circular economy in the packaging industry. This pioneering effort signifies a commitment to advancing eco-friendly practices and fostering a more sustainable approach to flexible packaging production
- In March 2023, Innovia Films, a prominent producer of specialty BOPP and CPP films, announced the expansion of its Leipzig, Germany unit. The addition of an 8.8-meter-wide co-extrusion line aims to address the increasing demand for thin gauge label films driven by sustainability concerns. This innovative technology, featuring an impressive 36,000 tons of annual capacity, emphasizes energy efficiency. Scheduled to commence production in H2 2024, the expansion underscores Innovia Films' commitment to meeting environmentally conscious market demands
- In February 2022, Westlake Chemical Corporation completed the acquisition of Hexion Inc.'s global epoxy business in an all-cash transaction totaling approximately USD 1.2 billion. This strategic move significantly expanded Westlake's epoxy resin portfolio, positioning the company to meet diverse market demands. The acquisition reflects Westlake's commitment to strengthening its presence in the epoxy sector and leveraging synergies for enhanced product offerings, reinforcing its competitive position in the global chemical industry
- In 2022, BASF SE significantly expanded its production capabilities by doubling its capacity for highly effective curing agents and chain extenders. This strategic move specifically targeted epoxy and polyurea applications, catering to wind energy, electrical components, composites, adhesives, and flooring industries. This expansion positions BASF SE to meet the escalating demand within these sectors, reflecting its commitment to enhancing supply chain efficiency and supporting the evolving needs of key industries reliant on epoxy and polyurea solutions
Regional Analysis
Geographically, the countries covered in the global epoxy curing agents market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific , Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
As per Data Bridge Market Research analysis:
Asia Pacific is the dominant region in the global epoxy curing agents market during the forecast period 2023-2030
Asia Pacific dominates the global epoxy curing agents market, propelled by robust industrial growth, extensive infrastructure development, and a surge in demand for epoxy-based products. The region's dynamic economic landscape and rapid urbanization contribute to increased adoption across diverse applications. With a thriving manufacturing sector and escalating construction activities, Asia Pacific stands as a critical driver in the global epoxy curing agents market, showcasing its pivotal role in shaping the industry's trajectory.
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