New York, NY, Aug. 28, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Epoxy Curing Agents Market by Type (Amines, Imidazoles, Polyamides, Anhydrides, Polyamidoamines, and Others) and by Applications (Coatings, Construction, Electrical & Electronics, Wind Energy, Composites, Adhesives and Other Applications) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global epoxy curing agents market was valued at USD 3.59 billion in 2017, is expected to reach USD 5.54 billion in 2024 and is anticipated to grow at a CAGR of 6.4% between 2018 and 2024.
Epoxy curing agents due to its superior properties like mechanical strength, chemical strength, and electrical insulation are widely used in several end-user industries. Additionally, epoxy curing agents are also used to manufacture printed circuit boards (PCBs) for the various kinds of electronic products like mobile devices, smartphones, automotive electronics, and others. In refineries, epoxy curing agents are used as corrosion inhibitors, thus, increased demand for epoxy curing agents in the refinery industry is likely to enhance the epoxy curing agents market.
Browse through 71 Tables & 41 Figures spread over 110 Pages and in-depth TOC on “Global Epoxy Curing Agents Market: By Type, Industry Size, Share, Key Segments Analysis and Forecast, 2017 – 2024”.
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The global epoxy curing agents market is anticipated to witness substantial growth in the future due to increasing coatings and construction industries. Moreover, the growing demand for curing agents in coatings industry across the world is having a prominent influence on the global market for epoxy curing agents. The construction industry is anticipated to drive the epoxy curing agents market growth in upcoming years. However, environmental concerns may impact positively or negatively on the epoxy curing agents market growth in the forecast period. Nevertheless, the growing adoption of epoxy curing agents for wind energy application is expected to propel the demand for epoxy curing agents market in the next few years.
The global epoxy curing agents market can be classified on the basis of type, application, and regions. On the basis of type, the global epoxy curing agents market is segregated into amines, imidazoles, polyamides, anhydrides, polyamidoamines, and others. Amines are widely used in a variety of applications such as adhesives, coatings, composites, and electrical & electronics. On the basis of applications, the market is segmented into coatings, construction, electrical & electronics, wind energy, composites, adhesives, and others. Coating industry is the most dominating application and is expected to witness significant growth in the near future.
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Geographically, the Asia Pacific accounted for the highest revenue share of about 45% for the global epoxy curing agents market in 2017 and is likely to sustain its dominance in the forecast period owing to a varied range of applications in various industries such as coatings, electrical & electronics, and construction. Therefore, growing construction industry in the developing countries like India and China is expected to boost the demand for epoxy curing agents within the forecast period. Furthermore, increasing construction sites in the emerging countries of Asia Pacific is enhancing the demand for electrical & electronics. As epoxy curing agents offers outstanding adhesion to a varied range of substrates and has excellent resistance to soldering and excellent electrical properties, it is widely used in electronic applications. Therefore, this is expected to propel the demand for epoxy curing agents in the upcoming years.
Europe is the second largest regional market for epoxy curing agents and is expected to grow significantly within the forecast period. The automotive industry in Europe is projected to grow substantially, thereby, increasing the demand for epoxy curing agents in automotive paints to enhance its adhesion property. Thus, it is expected to spur the epoxy curing agents market in the region. However, stringent regulations in Europe are estimated to hamper the epoxy curing agents market in the future. But, development of eco-friendly epoxy curing products is anticipated to expand the market growth.
Browse the full "Epoxy Curing Agents Market by Type (Amines, Imidazoles, Polyamides, Anhydrides, Polyamidoamines, and Others) and by Applications (Coatings, Construction, Electrical & Electronics, Wind Energy, Composites, Adhesives and Other Applications) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/epoxy-curing-agents-market
North America is projected to show a sluggish market growth rate in upcoming years. Increasing research and development to improve the properties of epoxy curing agents to fulfill end-user requirements is expected to develop the market in the near future. Moreover, rising demand for coatings from several industries is estimated to boost the epoxy curing agents market in the forecast period. However, increasing raw material prices may hinder the epoxy curing agents market in the upcoming years.
The demand for epoxy curing agents in Latin America is expected to grow moderately in the forecast period. Owing to the increasing demand from the construction industry and wind energy industries the epoxy curing agents market is growing at a rapid rate. Moreover, one of the main driving factors for the global and the regional epoxy curing agents market is the rising demand for the coatings industry. These epoxy curing agents are widely used for enhancing adhesion properties of the material.
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The Middle East & Africa is expected to show decent market growth in the upcoming years due to the rising industrialization. This is anticipated to increase the demand for epoxy curing agents for various applications. In addition, increasing demand for epoxy curing agents for composites and adhesives are likely to spur the epoxy curing agents market. In addition, with the rising construction activities along with strong demand for electronics appliances the demand for epoxy curing agents within the region will augment in the coming years.
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The epoxy curing agents market consists of a large number of players and is highly fragmented. Companies operating in this market include Evonik Industries, Cardolite Corporation, Dow Chemical Company, DIC Corporation, BASF SE, Hexicon Inc., Incorez Ltd., Gabriel Performance Products, Momentive Speciality Chemicals, Brenteg Specialities Inc., Aditya Birla Chemicals, and Mitsubishi Chemicals, among others.
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The report segments the global epoxy curing agents market as:
Global Epoxy Curing Agents Market: Type Analysis
- Amines
- Polyamide
- Imidazoles
- Anhydrides
- Polyamidoamines
- Others
Global Epoxy Curing Agents Market: Application Analysis
- Coatings
- Construction
- Electrical & Electronics
- Wind Energy
- Composites
- Adhesives
- Others
Global Epoxy Curing Agents Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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