Evolution of End Use Industries to propel Epoxy Curing Agents Market CAGR to a Health 5.0% - Future Market Insights, Inc.

Sales of epoxy curing agents in China are projected to rise at 7.9% CAGR during the forecast period of 2022 and 2028. India epoxy curing agents market is poised to expand at over 6.2% CAGR between 2022 and 2028. Revenues in paints, coating and ink segment are expected to total US$ 1.8 Bn by the end of 2028

NEWARK, Del., July 20, 2022 /PRNewswire/ -- The global epoxy curing agents market is expected to reach a valuation of US$3.11 Bn, growing at a healthy CAGR of 5.0% over the forecast period of 2022-2028. Implementation of stringent regulation promotes the usage of lightweight materials in aerospace and automotive industries. This bodes well for the epoxy curing agents market.

Evolution and growth of multiple sectors like electronics, construction, manufacturing, power generation, and automotive among others will promote the rising demand for epoxy curing agents. Notably high demand for epoxy curing agents is due to the elevated demand for adhesives and sealants, paints and coatings, and composites. 

Owing to the need for heat resisting curing agents that are effective in high temperatures in electronics and automotive industries, epoxy-curing agents are in high demand in these sectors. Additionally, an increase in the manufacturing of printed circuit boards, rising usage of epoxy curing agents in smartphones, automotive, and consumer electronics along with other electronic products are boosting the demand for epoxy curing agents market.

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"Rising adoption of smart electronic products will augment the sales of epoxy curing agents in the global market over the forecast period," says an FMI analyst. 

Key Takeaways:

• Epoxy curing agents market expected to grow by 1.3x over the forecast period.
  
  
• China is projected to dominate the market with over 41% global market share.
  
  
• Western Europe to hold the second largest market share during the forecast period.
  
  
• Epoxy curing agent application in coatings to increase by 1.6x by the end of 2028
  
  
• China epoxy curing agents market to grow at a 7.9% CAGR
  
  
• Epoxy curing agents market in India to grow at a CAGR of 6.2%
  
  
• The U.K. epoxy curing against market presents strong growth potential with an 8% CAGR.
  
  
• Amines and polyamines segment will account for over 48% of market sales
  
  
• Paints, coatings, and inks in application segment will dominate the market.

Competitive Landscape 

Huntsman Corporation, Olin Corporation, Hexion Inc., Evonik Industries AG, BASF SE, Cargill Incorporated, Mitsubishi Chemical Corporation, DIC Corporation, Showa Denko KK, Aditya Birla Corporation, Toray Fine Chemicals Co. Ltd., Gabriel Performance Products, and others are some of the major players in the epoxy curing agents market that are profiled in the full version of the report.

Major organizations in the market are investing in developing heat-resistant epoxy curing agents to cater to the upsurge in demand from the automotive and electronics sector. Strategic partnerships and collaborations are also widely used by these organizations to gain a competitive advantage.

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Major organizations in the market are investing in developing heat-resistant epoxy curing agents to cater to the upsurge in demand from the automotive and electronics sector. Strategic partnerships and collaborations are also widely used by these organizations to gain a competitive advantage.

More Insights into the Epoxy Curing Agents Market Report

In its latest report, FMI offers an unbiased analysis of the global epoxy curing agents market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (amines and polyamines, amides and polyamides, anhydrides, phenolic, others), end use (construction, electrical and electronics, power generation, automotive and transportation, marine, others), application (paints, coatings, and inks, adhesives and sealants, composites), and region.

Epoxy Curing Agents Market Regional Analysis

According to FMI reports, China in the Asia Pacific region is projected to record a CAGR of 7.9% during the assessment period. With a massive manufacturing industry, China will dominate the epoxy curing agents market over the forecast period. Marine, construction, aerospace, and automotive industry of China are set to experience immense growth and development. This, in turn, is expected to boost the epoxy curing agent market due to the high demand for lightweight and heat-resistant materials in these industries.

Elevated expansion of manufacturing and automotive industries in India is expected to boost the sales of epoxy curing agents. Rising use of smartphones and the application of epoxy curing agents in the manufacturing of these phones will foster market growth in the region. Furthermore, increasing use of epoxy curing agents in electrical and electronic products also bodes well for the regional market. The epoxy curing agent market in India will register a CAGR of 6.2% during 2022-2028.

Presence of major aircraft manufacturing organizations is fueling the epoxy curing agent market in the U.K. The country is expected to register a CAGR of 8% during 2022-2028. Additionally, elevated application of epoxy resins in construction, paints, and coatings industries will also propel market growth in this region.

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Epoxy Curing Agents Market Segmentation Analysis

By product type, amines and polyamines segmentation will account for around 48% of the global sales of the epoxy curing agent market over the forecast period. High demand for amines and polyamines in the industrial sector promotes the market growth of this segment.

Based on application, the paints, coatings, and inks segment will dominate the global market. It is expected to reach market revenue of US$1.8 Bn by the end of 2028. However, the composites segment in the application category is predicted to present the fastest growth rates. The automotive and aerospace industries drive the demand for this segment. 

Epoxy Curing Agents Market by Category

By Product:

• Amines and Polyamines
• Amides and Polyamides
• Anhydrides
• Phenolic
• Others

By Application:

• Paints, coatings and inks
• Adhesives and Sealants
• Composites

By End Use:

• Construction
• Electrical and electronics
• Power Generation
• Automotive and Transportation
• Marine
• Others

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Middle East & Africa
• Japan

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Table of Content

1. Executive Summary

   1.1. Market Overview

   1.2. Market Analysis

   1.3. Analysis and Recommendations

   1.4. Wheel of Fortune

2. Market Introduction

   2.1. Market Taxonomy

   2.2. Market Definition

   2.3. Global thermosetting resins and epoxy resins market overview

3. Market View Point

   3.1. Macro-Economic Factors

     3.1.1. Global Paints, Coatings and Inks Industry Overview

     3.1.2. Global Wind Energy Generation Industry Overview

     3.1.3. Global Construction Sector Overview

     3.1.4. Global PCB Production Overview

     3.1.5. Global Automotive Industry Overview

     3.1.6. Global Chemical Sales

     3.1.7. Global GDP Outlook

   3.2. Global Epoxy Curing Agents Market Supply Demand Scenario

4. Industry Structure

   4.1. Market Structure Analysis

5. Market Dynamics

     5.1.1. Drivers

     5.1.2. Restraints

     5.1.3. Trends

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