Asia-Pacific Epoxy Curing Agent market value and expected growth
The Epoxy Curing Agent market was estimated at USD 4.2 billion in 2019 and is expected to grow at a CAGR rate of 6.0% to reach USD 5.9 billion in 2024.
A new waterborne, emulsion-type epoxy-pressed coating agent NX-8401 was launched at Cardolite in December 2017. The material is solvent-free, low viscosity and water-reducible.
In March 2017, Huntsman Corporation released Ara, a new range of heavy-duty industrial coating agents for the oil and gas, marine, transport and industrial maintenance industries, for use with low-temperature curing agents.
The method of the linear epoxy resin with suitable healing agents to create thermoset structures that are interlinked in three dimensions is known as an epoxy cure. Epoxy healing agents give an outstanding bonding ability even after diagnosis. This provides excellent mechanical strength, high chemical resistance and electrical insulation. To order to be mixed and cured together with various curing agents, the epoxy resins can also have different properties. Epoxy resins cure is an exothermic reaction that, in some cases, generates enough energy, if not regulated, to cause thermal degradation. Epoxy Resin has outstanding mechanical strength, chemical resistance and electrical isolation characteristics after application.
The epoxy curing agents market is driven primarily by increased demand for adhesive and coating epoxy cure agents. In addition, increased demand for adhesives is expected to dominate the global epoxy curing agent market in the review period in the construction sector. This will have a positive effect on the market for epoxy curing agents in the construction industry. For example, in the construction industry, adhesive and thermosetting adhesives that are of higher strength and environmental protection are used to produce tertiary and secondary amines, imidazoles, and polysulfides.
Besides, amines are used extensively in the production of high-solid coatings, which emit not only low volume VOCs, but also provide high resistance to oxidation, edge retention and coating thickness. Such solid lacquers are used on ships, well deck surfaces and top surfaces throughout the military industry. These also mark directions, warning signs and others in factories and commercial premises. As a result, both price and volume are expected to increase significantly in the forecast time due to these factors on demand for epoxy curing agents.
In the near future, APAC will remain the most lucrative end-use market. The steady rise in the production of goods for use in the area and exports is driving demand for healing agents. The growing population and end-use industries have led to innovation and innovations in the end-use sectors and have made them a worldwide actively applied industry.
Drivers and market limitations:
The Epoxy Curing Agent market size is exponentially expanding owing to the following:
Restraints of Epoxy Curing Agent market can be –
Market research involves studying market trends, growth patterns and understanding the influence of variables like macro and micro economic conditions, geopolitical and demographic conditions on the market value and market dynamics.
The research methodology used to calculate and forecast the Epoxy Curing Agent market began by collecting information on the marketkey player’s sales using multiple sources via secondary research.In order to identify market segmentation, supplier offers have been considered.
Epoxy Curing Agent Market segmentation:
Anhydride Curing Agents of the form Amine-Based Treatment are used in a wide range of manufacturing industries with various types of epoxy curing agents, including amides, polyamines, amines, polyamides, phenolics, anhydrides etc. In most industrial applications, higher demand for amines and polyamines has contributed to more than 48% of epoxy cure agent income in this market. To order to prevent the emission of VOCs, however, end-users are heading onto the market towards amides and polyamides because of tight regulatory standards. Amines and polyamines are likely to lose market share of amides and polyamides in the coming years.
Asia-Pacific, followed by North America and Europe, holds major market share owner in 2018.Due to Increasing economies, growth of end-usage industries and an increase in their demands in the APAC region, particularly emerging economies such as China, India, Thailand, Indonesia and Malaysia are driving the growth of the industry.
The Asia-Pacific region, will therefore, proceed to dominate theEpoxy Curing Agent marketbecause of the variables listed above.
Key players in the market:
Evonik Industries AG, BASF SE, Huntsman International, LLC, Cardolite Corporation, Kukdo Chemical Co., Ltd, Aditya Birla Chemicals, Mitsubishi Chemical Corporation, The Dow Chemical Company, Air Products and Chemicals, Inc., and others are key players operating in the epoxy curing agent market.
Key highlights of the research report:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.2 Amine-Based Curing Agent
5.1.3 Anhydride Curing Agents
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 By Application
5.2.6 Wind Energy
5.2.7 Electrical & Electronics
5.2.8 Y-o-Y Growth Analysis, By Application
5.2.9 Market Attractiveness Analysis, By Application
5.2.10 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Application
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Application
6.5 South Korea
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 BASF SE
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Evonik International
8.3 Royce International
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures