Global Curing Agents Market is segmented by Resin Type (Epoxy, Silicone, Polyurethane, Others), by application(Adhesives, Coatings, Electric &Electronics, Construction, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Curing Agents Market Overview
The Curing Agents Market is expected to grow at a CAGR of 6.4 % during the forecast period (2024-2031).
Curing agents are a kind of chemical additives added to resins to harden or toughen a surface or material. It is applied to polymer surfaces to facilitate bonding by cross-linking of polymer chains. The stronger the polymer linkage, the harder the material surface is. Due to the superior properties of curing agents its applications in various industries are expected to drive the global curing agents market growth.
Curing Agents Market Summary
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Metrics |
Details |
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Market CAGR |
6.4% |
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Segments Covered |
By Resin Type, By Application, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Curing Agents Market Trends
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 the 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 the increasing cost of raw material used in various industries have increased the total cost of curing agents are hindering the growth of the curing agents market.
Curing Agents Market Segmentation Analysis
Based on the application, the global curing agents market is broadly segmented as coating, building & construction adhesives, and others. Among all these, the building and construction industry occupies the dominant share in the market. It is owing to the increase in the use of curing agents in construction applications such as increasing concrete bonding, flooring, and 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 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 occupy the major market share and are 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 is propelling. Additionally, they act as additives that are used to cure or harden various materials in different surroundings.
Curing Agents Market Geographical Share
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. The 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 the 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%.
Curing Agents Companies and 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. The 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.
