Selbyville, Delaware, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Epoxy Curing Agents Market is projected to reach USD 10.1 billion by 2032, as per a recent study by Global Market Insights Inc.
Investments in sustainable development and eco-friendly materials are driving growth in the industry. TravelPerk reports that 75% of executives noted an uptick in their organizations' investments towards sustainability, with 20% highlighting a significant boost. As global awareness of environmental challenges rises, industries are pivoting to eco-friendly materials.
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Epoxy hardeners are pivotal in this shift, facilitating the production of efficient, eco-conscious epoxy resins. Manufacturers are gravitating towards low-VOC and bio-based epoxy hardeners, which match traditional performance but with reduced emissions and lesser fossil fuel reliance. Furthermore, stringent regulations and sustainability pushes from governments and industry bodies are set to amplify the demand for eco-friendly epoxy hardeners, paving the way for market growth and innovation.
Anhydride segment poised for significant growth
The epoxy curing agents market size from anhydride segment will gain momentum through 2032 thanks to their exceptional properties. Anhydrides are celebrated for imparting superior thermal and chemical resistance to epoxy systems, making them prime candidates for high-performance applications. Their low viscosity and superior wetting properties enhance penetration and adhesion to diverse substrates, bolstering the cured epoxy's mechanical strength. Anhydrides find favor in electronic and electrical equipment, where thermal stability and corrosion resistance are paramount. Moreover, their role in coatings and composites is expanding as they enhance surface hardness and wear resistance.
Adhesives segment to witness steady growth
The Adhesives segment will grow steadily through 2032. Epoxy-based adhesives are prized for their robust adhesion strength, durability, and resilience to environmental factors, making them vital across industries. The construction sector leans heavily on epoxy adhesives, utilizing them for everything from structural bonding to flooring and coatings. The automotive realm employs epoxy adhesives for component assembly, weight reduction, and enhanced crashworthiness. Similarly, the electronics sector benefits from epoxy adhesives, ensuring reliable bonding and protection for sensitive components in challenging environments.
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Europe emerges as a key market
Europe epoxy curing agents market is set for rapid growth through 2032, driven by a solid industrial foundation, technological advancements, and stringent environmental standards. Established industries like construction and automotive are major consumers of epoxy hardeners, leveraging their properties for enhanced performance and durability. Countries like Germany, France, and Great Britain lead in adopting advanced materials and technologies bolstered by robust R&D activities. In addition, the European Union's legislative framework, which champions ecological and sustainable materials, further promotes the uptake of low-VOC and bio-based epoxy hardeners.
Epoxy Curing Agents Market Players
Prominent players in the market include Huntsman Corporation, Hexion Inc, BASF SE, Olin Corporation, Cardolite Corporation, Aditya Birla Chemicals, Evonik Industries AG, Kukdo Chemical Co., Ltd, Atul Ltd, and Dow Inc. Their growth strategies emphasize heavy investments in R&D to develop advanced therapeutic agents that align with evolving industry demands.
Companies are broadening their product lines to encompass ecological and bio-based options, reflecting the industry's sustainability focus. Through strategic partnerships and acquisitions, they're bolstering their technological prowess and market presence. Moreover, companies are refining their supply chains and manufacturing processes for enhanced efficiency and cost reduction, all while eyeing expansion in emerging markets for fresh growth avenues.
In December 2023, BASF announced the completion of its specialty amine facility expansion in Geismar, Louisiana. This expansion is set to boost the production of key polyetheramines and amine catalysts marketed under the Baxxodur® and Lupragen™ brands.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
