Portland, OR, Aug. 02, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global curing agent’s market accrued nearly $11.3 billion in 2021, and is anticipated to reach $22.2 billion by 2031, registering a CAGR of 7.0% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market. It depicts a quantitative analysis of the market from 2022 to 2031 to enable shareholders to invest in the emerging market.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $11.3 Billion |
| Market Size in 2031 | $22.2 Billion |
| CAGR | 7.0% |
| No. of Pages in Report | 316 |
| Segments covered | Type, End use Industry, and Region |
| Drivers | Huge demand for coatings and breakthroughs in chemical testing. |
| Escalating product penetration in the flavoring process and food preservation. | |
| Massive preference for curing agents in constructing wind blades. | |
| Opportunities | Beneficial properties of curing agents such as heat resistance, compressive strength, low toxicity, and low volatility. |
| Restraints | High and fluctuating costs of raw materials. |
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Covid-19 Scenario
- The COVID-19 pandemic substantially impacted the growth of the global curing agents market. The low penetration of curing agents in industrial, construction, and transportation sectors due to the shutting of many production units hindered the global market growth.
- Lack of transport facilities obstructing raw material supply and low labor mobility due to the outbreak of the COVID-19 pandemic impeded the growth of the global market.
- Fluctuations in raw material costs during the COVID-19 pandemic occurred due to low production with lockdown restrictions in place. This, in turn, hindered the growth of the market across the globe.
- Huge procurement of curing agents in the hospitals and clinics due to its use in medical devices such as incubators and medical storage equipment had offset the losses incurred to the manufacturers during the COVID-19 pandemic.
The report offers detailed segmentation of the global curing agents market based on type, end use industry, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve the growth in the coming years.
Based on type, the epoxy segment contributed toward the largest market share in 2021, accounting for more than two-fifths of the overall share of the global curing agents market. Moreover, this segment is predicted to retain its domination during the forecast period. The report also offers an analysis of other segments such as polyurethane, rubber, silicone, and others.
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Based on end use industry, the paints and coatings segment held the largest share in 2021, contributing about one-fourth of the overall share of the global curing agents market. However, the composites segment is predicted to contribute the largest market share by 2031. This segment is also anticipated to record the fastest growth with a CAGR of nearly 8.1% from 2022 to 2031. The report also offers an analysis of other segments such as building and construction, electrical and electronics, and others.
Based on region, Asia-Pacific contributed towards the highest market share in 2021, accounting for nearly one-third of the global curing agents market. The region is predicted to continue its market dominance by 2031. Moreover, Asia-Pacific curing agents market is set to record the fastest CAGR of 8.1% during the forecast timeline. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global cutting agents market analyzed in the research include Albemarle Corporation, Alfa Chemical, Kumiai Chemical Industry Co. Ltd., Arnette Polymers LLC, Huntsman Corporation, Atul Ltd, BASF SE, Cardolite Corporation, Epochemie - Epoxy Curing Agents, Evonik Industries AG, Hexion Inc., LEUNA-Harze GmbH, Cargill, Aditya Birla Chemicals, Kumho P&B Chemicals, Inc., Shandong Deyuan Epoxy Resin Co. Ltd, Mitsubishi Chemical Holdings Corporation, Olin Corporation, and Vijai poly products Pvt.
The report analyzes these key players in the global curing agents market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, product portfolio, and developments of every market player.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
