Epoxy resins are been used in a wide range of fields, such as paints, electricity, civil engineering, and bonds. These resins have excellent bonding property, and after curing, it has outstanding properties on mechanical strength, chemical resistance, electrical insulation. Epoxy-based polymer materials have diverse applications such as metal can coatings, automotive primers, printed circuit boards, semiconductor encapsulants, adhesives, aerospace composite materials, and even as building materials for rotor blades of wind turbines. These amorphous materials have a set of unique properties that are not commonly found in other plastic materials, such as excellent mechanical strength, outstanding chemical, moisture and corrosion resistance, good thermal, adhesive, and electrical properties; dimensional stability (i.e., low shrinkage upon curing) and a lack of volatile emissions. Most industrial applications of epoxy resins are in thermosetting, a process in which an epoxy resin reacts with a curing cross-link agent known as a hardener. Aliphatic amines find use in civil engineering (e.g., patch repair systems, flooring), high-solids coatings, adhesives, wet lay-up laminating, small electrical encapsulation and are used to accelerate other amine curing agents.
The global epoxy curing agent market is observing significant growth owing increasing use of epoxy curing agent in various applications, such as coatings, electrical & electronics, wind energy, construction, adhesive, and composite. Moreover, stringent regulatory norms set for the use of lightweight materials in automotive as well as aerospace industries will continue to hold a substantial impact on the market performance in upcoming years. Also, use of bio-based curing agents and development of an innovative range of low-temperature, low-curing time epoxy curing agents is expected to provide growth opportunities to this market in the future. However, the market is hindered by environmental regulation in European countries. Epoxy curing agents tend to release certain harmful volatile organic compounds (VOCs), which compels manufacturers to concentrate on developing eco-friendly curing agents that are ideal for the level of prominence coating applications.
The report analyses the global epoxy curing agents market based on type, application and geography.
Based on type, the market is categorized into amine-based curing agents such as aliphatic amine curing agents, cycloaliphatic amine curing agents, polyamide curing agents, amidoamines curing agents and other amines-based curing agents; anhydride curing agents including Hexahydrophthalic Anhydride (HHPA), Nadic Methyl Anhydride, Pyromellitic Dianhydride (PMDA) and other anhydride curing agents; and other curing agents including polysulfides, mercaptans, phenalkamine, phenalkamide, polyamido-amines and latent curing agents. Other amines-based curing agents majorly includes Metaphenylene Diamine (MPDA) and Methylene Dianiline (MDA). Whereas, the aliphatic amine curing agents are further segmented into primary & secondary aliphatic amine and modified aliphatic amine.
Furthermore, various applications of this market are categorized into coatings, electrical & electronics, wind energy, construction, adhesive, composite and others including elastomers, additives and accelerators. Epoxy-cured resins are extensively used as protective coatings for automotive bodies, aerospace components, wind rotor blades, floorings, and other parts, which are sensitive to corrosion and rust.
By geography, the global epoxy curing agent market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world. In 2018, APAC held the largest revenue share as emerging countries, such as China and India, offer lucrative opportunities to market players, due to the growing urbanization and industrialization. Thus, significantly large population base, rise in construction activities and increase in disposable income are expected to drive the growth of the market in this region. Stringent environmental regulations in the European region regarding limiting the use of volatile organic solvents may act as a challenge for epoxy curing agents market growth in region. Furthermore, North America is expected to witness lucrative growth over the forecast period owing to supportive government initiatives and improving infrastructure. Additionally, the global manufacturers of epoxy curing agents are focusing on ensuring safety and avoid health hazards due to the VOCs emission from chemical products.
The leading epoxy curing agents market players are Evonik Industries, Air Products and Chemicals, Inc., Hexion Inc., BASF SE, Huntsman Corporation, Cardolite Corporation, Kukdo Chemical Co., Ltd., Aditya Birla Chemicals, Mitsubishi Chemical Corporation, Atul Limited and Epoxy Base Electronic Material Co. Ltd. (Grace Epoxy). In order to sustain the existing market competition, majorly from China-based players, manufacturers have strategically located their production plants in the Asia Pacific region to reduce raw material procurement costs and additionally-imposed custom duties. In sync with this, major partnerships and long term supply agreements have been observed in the market. New production plants are being set up and the production capacities of existing plants are being ramped up.
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