Curing Agents Market
The global curing agents market is expected to witness a CAGR of 8.06 % to reach USD 6.1 billion by 2024. Increasing demand for epoxy curing agent from construction industry is expected to drive the market growth over the forecast period. Moreover, increasing demand from emerging economies is anticipated to foster the demand for curing agents in the coming years.
Curing agents are used to harden a material or its surface by facilitating the bonding of molecular components of that material. Curing agents react with surfaces, acts as catalyst in hardening process, and are also used as initiator agents. Curing agents are key in deciding the final properties of the cured products, and are employed accordingly. Perpetual demand from end-use industries is expected to drive the market growth over the forecast period.
Epoxy segment held the largest share of the market in 2017
Epoxy curing agents are used in inks, adhesives, roadmaking, industrial paints, coatings, creating modified plastics, construction materials, among others. Properties possessed by the epoxy cured products are imparted by the wide range of epoxy curing agents (simple or modified) used, for instance, incorporation of water based systems allow for lower VOC levels and improved environmental options. With the variety of available epoxy curing agents, users can control curing time, adhesive properties, resistance towards chemicals, permeability, UV resistance, among others. These customization are preferred by end-user industries, and has given impetus to the market over the past years.
Key findings from the report:
- The global curing agents market is expected to witness a CAGR of 8.06% to reach USD 6.1 billion by 2024.
- By agent type, epoxy segment held the major share of the market in 2017, owing to availability of end products with customizable properties
- By application, coating segment held the major share of the market in the year 2017
- Asia Pacific is expected to experience the fastest CAGR over the forecast period
- Some of the key companies operating in the market include BASF SE; Aditya Birla Chemicals; Mitsubishi Chemical Corporation; The Dow Chemical Company; Huntsman Corporation; DIC Corporation; Toray Fine Chemicals Co. Ltd; Kukdo Chemical Co., Ltd.; Air Products and Chemicals, Inc.; and Evonik Industries, among others
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Curing agents market – Regional insight
Asia-Pacific curing agents market is expected to grow at the fastest rate over the forecast period. Ubiquitous manufacturing units present in the Asia-Pacific have driven the market growth in the past few years. Perpetualy increasing demand from end-use industries has given impetus to the market growth. Moreover, increasing availability of curing agents used to manufactuer customized end products has led to increased demand of curing agent in the region. North America is expected to experience a steady growth over the forecast period. Growth in North American region can be owed to high demand from the coating, construction, and adhesive industry.
The report segments curing agents market on the basis of agent type, application, and region.
By Agent Type
- Epoxy Curing Agent
- Amine-Based (Aliphatic, Aromatic, Cycloaliphatic)
- Polyurethane-Based Curing Agents
- Construction Industry
- Electrical & Electronics
- North America
- Asia-Pacific (APAC)
- Central & South America
- Middle East & Africa
Curing Agents Market to witness a CAGR of 8.06% during 2018-2024