Curing Agents Market By Type (Epoxy, Polyurethane, Silicone Rubber, Others), By End use industry (Paints and coatings, Building and construction, Electrical and Electronics, Composites, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The curing agent market was valued at $11.3 billion in 2021, and is projected to reach $22.2 billion by 2031, growing at a CAGR of 7.0% from 2022 to 2031.
Curing agent is used to make a substance hard and rigid. It is applied on the surface of the material so that it makes the molecular bond between them stronger and ultimately makes the material harder. It is produced through a chemical process by cross-linking of polymer chains. It has many uses and application. Aliphatic polyamines and derivatives are the most commonly used curing agents.
Curing agent is used in coating industry to enhance the adhesion quality especially on metal surface to prevent it from corrosion and chemical resistance. It is a chemical and physical process in which polymerization and evaporation takes place, which makes the bond on the surface of the material strong and stable. Curing agent is used in variety of applications, including marine, can & coil, decorative, protective and general industrial coating.
The growth in use of curing agent in different applications such as epoxy resin, paints, and coatings are drives the curing agent market. Moreover, increased consumption of epoxy curing agent in construction sector is likely to drive the market growth during the forecast period. The rapid growth of industries such as ships and paints & coatings has increased the demand for curing agents. In addition, the systematic framework of supply of these things help in market growth. However, stringent environmental regulations can hamper the demand for curing agent. Moreover, the hike in prices could hamper the global market of curing agent.
The curing agent market is segmented on the basis of type and end-use industry. By type, the market is categorized into epoxy, polyurethane, silicone rubber, and others. On the basis of end-use industry, the market is fragmented into paints & coatings, building & construction, electrical & electronics, composites, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global curing agent market are Albemarle Corporation, Alfa Chemical, Arnette Polymers LLC, Atul Ltd, BASF SE, Cardolite Corporation, Epochemie - Epoxy Curing Agents, Evonik Industries AG, Hexion Inc., Huntsman Corporation, Kumho P&B Chemicals, Inc., Mitsubishi Chemical Holdings Corporation, Olin Corporation, Shandong Deyuan Epoxy Resin Co. Ltd, Vijai poly products Pvt.
Other players operating in the curing agent market are LEUNA-Harze GmbH, Cargill, Aditya Birla Chemicals, Kumiai Chemical Industry Co. Ltd.
IMPACT OF COVID-19 ON THE GLOBAL CURING AGENT MARKET
The recent COVID-19 pandemic negatively impacted the market for curing agents in a significant way.
During COVID-19, the demand for curing agents in the construction, transportation and industrial sectors has decreased as a result of the closure of several industrial manufacturing facilities.
The most of these sectors have experienced damage as a result of insufficient transportation and labor shortages during the pandemic.
The need for curing agents has expanded alongside the demand for medical equipment like as incubators and other medical storage devices.
As a consequence, it is anticipated that the mentioned factors would restrain the growth of the global curing agent market in the near future.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the curing agents market analysis from 2021 to 2031 to identify the prevailing curing agents market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the curing agents market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global curing agents market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Epoxy
Polyurethane
Silicone Rubber
Others
By End use industry
Paints and coatings
Building and construction
Electrical and Electronics
Composites
Others
By Region
North America
U.S.
Canada
Mexico
Europe
France
U.K.
Spain
Italy
Rest of Europe
Germany
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Evonik Industries AG
BASF SE
Huntsman International LLC
Hexion
Olin Corporation
Cardolite
cardolite
aditya birla chemicals
Mitsubishi Chemical Corporation
Atul Ltd
Albemarle Corporation
Arnette Polymers
cargill
Alpha chemicals
KUMIAI CHEMICAL INDUSTRY CO. LTD.
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