Research Reports

Market Overview

• The global curing agents market is expected to grow at a CAGR of 6.4 % during the forecast period (2019-2026).
• Curing agents are a kind of chemical additives added to resins to harden or toughen a surface or material. It is applied to polymer surface to facilitate bonding by cross-linking of polymer chains. The stronger the polymer linkage, the harder the material surface is. Due to superior properties of curing agents its applications in various industries are expected to drive the global curing agents market growth.

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Market Dynamics

• Growth in the application of curing agents in various industries such as construction, automotive, and others is one of the major factors that is driving the global curing agents market. Due to superior properties of curing agents like mechanical strength, chemical strength, and electrical insulation these are widely used in several end-user industries. Additionally, stringent regulations made for the usage of lightweight components in aerospace and automotive sectors are surging the demand for curing agents market.
• However, adverse effects of curing agents like discharging harmful volatile organic compounds which can be a concern to the environment and increasing cost of raw material used in various industries has increased the total cost of curing agents are hindering the growth of curing agents market.

Market Segment Analysis

• Based on the application, the global curing agents market is broadly segmented as coating, building & construction, adhesives, and others. Among all these, building and construction industry occupies the dominant share in the market. It is owing to increase in the use of curing agents in construction applications such as increasing concrete bonding, flooring, and in marble lamination. According to the World Bank estimates the global expenditure from the construction industry is expected to reach USD 14 trillion by 2025. Increasing global construction activities is anticipated to increase thus demand for curing agents is anticipated to rise in the forecast period.
• Based on resin type, the global curing agents market is broadly segmented as epoxy, polyurethane, silicone, and others. Among all these, epoxy curing agents occupies the major market share and is expected to grow at a higher CAGR during the forecast period. The epoxy resins exhibit high performance, are easy-to-use, more durable compared to other resins. Thus, the increase in the use of epoxy curing agents in applications such as coatings, electrical & electronics, construction, adhesives are propelling. Additionally, they act as additives that are used to cure or harden various materials in different surroundings.

Geographical Analysis

• The global curing agents market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific occupies the dominant share in the curing agents market and is expected to grow at a CAGR of XX% in the forecast period. Rising population and growing end-user industries in this region are driving the market. Also, research institutions and various manufacturers are making huge investments in R&D of curing agents. Additionally, due to the rising awareness about the use of eco-friendly adhesives and growing demand from applications such as coatings, electrical & electronics, construction, composites, adhesives, and others in this region. For instance, according to CIC, it is expected that from 2017-2021 the Asia Pacific region's construction output will increase by 3.3%.

Competitive Analysis

• Significant players of the global curing agents market are Evonik Industries, Hexion Inc., Huntsman Corporation, Cardolite Corporation, BASF, Olin Corporation, Kukdo Chemical Co. Ltd., Aditya Birla Chemicals Ltd., Mitsubishi Chemical Corporation, Atul Limite, Albemarle Corporation and others. Majority of these players have adopted few organic and inorganic key strategies like product launches, mergers & acquisitions, and others to maintain their market share in this market. For instance, in March 2017, Huntsman Corporation, launched a new portfolio of low-temperature curing agents, for heavy-duty industrial coating applications. In December 2017, Cardolite launched a new emulsion-type curing agent for epoxy coatings, NX-8401 which has low viscosity & easily reducible with water.

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