Epoxy Curing Agents Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Epoxy Curing Agent Market Trends and Forecast

The future of the global epoxy curing agent market looks promising with opportunities in the wind energy, pipes and tank, and aerospace end uses. The global epoxy curing agent market is expected to reach an estimated $1,121 million by 2030 with a CAGR of 5% from 2023 to 2030. The major growth drivers for this market are increasing use of high-performance epoxy based composite materials and the growth of end use industries.

• Aliphatic amines will remain the largest segment and also is expected to witness the highest growth over the forecast period due to its better mechanical properties like; low viscosity, rapid cure at elevated temperature, high thermal resistance, and improved blush resistance.
• Aliphatic amines will remain the largest segment and cycloaliphatic amines is expected to witness the highest growth over the forecast period due to its better mechanical properties like; low viscosity, rapid cure at elevated temperature, high thermal resistance, and improved blush resistance.
• Asia Pacific is expected to remain the largest region due to increasing demand for composites in pipe and tank and wind energy industries. Europe is expected to witness the highest growth over the forecast period.

Asia Pacific is expected to remain the largest region in the Epoxy Curing Agent Market

1. United States: Leading epoxy resin manufacturers like Huntsman Corporation and Dow Chemical Company are focusing on developing innovative epoxy curing agents, driven by increasing demand in construction and automotive sectors. Government initiatives promoting infrastructure development and renewable energy projects fuel market growth. Huntsman recently announced plans to expand its epoxy curing agent production capacity in response to rising demand.

2. China: Chinese companies such as Aditya Birla Chemicals and Hexion Inc. are investing in epoxy curing agent technology to meet the growing demand from the construction and electronics industries. Government initiatives promoting urbanization and industrialization drive market expansion. Aditya Birla Chemicals announced strategic collaborations to enhance its epoxy curing agent portfolio and expand market presence in China.

3. Germany: German chemical giants like BASF SE and Evonik Industries AG are focusing on sustainable epoxy curing agent solutions, aligning with the country's environmental regulations and emphasis on green technologies. Companies target applications in wind energy and automotive sectors. BASF recently introduced a new eco-friendly epoxy curing agent line, emphasizing reduced environmental impact and improved performance.

4. India: Indian companies like Atul Ltd and Kukdo Chemical Co., Ltd. are expanding their epoxy curing agent production capacities to cater to the growing demand from the construction and marine industries. Government initiatives promoting infrastructure development and urbanization support market growth. Atul Ltd announced investments in R&D to develop high-performance epoxy curing agents for diverse applications.

5. Japan: Japanese chemical companies such as DIC Corporation and Mitsubishi Chemical Corporation are focusing on epoxy curing agent innovation for applications in electronics and automotive sectors. Government initiatives promoting technological innovation and energy efficiency drive market growth. Mitsubishi Chemical Corporation recently announced advancements in epoxy curing agent formulations to meet stringent performance requirements in electronic applications.

Emerging Trends in the Epoxy Curing Agent Market

Emerging trends, which have a direct impact on the dynamics of the industry, includes development of curatives to address specific needs of customer industries, expansion in low cost regions and high growth markets, and increasing inter-material competition and switching.

A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below.

Epoxy Curing Agent Market by Segment

The study includes trends and forecast for the global epoxy curing agent market by end use, product type, and region as follows:

Epoxy Curing Agent Market by End Use [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• Wind Energy
• Pipe and Tank
• Aerospace
• Others

Epoxy Curing Agent Market by Product Type [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• Aliphatic Amines
• Aromatic Amines
• Cycloaliphatic Amines
• Dicyandiamide
• Anhydride
• Catalyst

Epoxy Curing Agent Market by Region [Value ($M) and Volume (M lbs) Shipment Analysis for 2018 - 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Epoxy Curing Agent Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies epoxy curing agent companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the epoxy curing agent companies profiled in this report includes.

• BASF SE
• Evonik
• Huntsman Corporation
• Westlake Chemical Corporation
• Dow Inc.
• Cardolite Corporation

Recent Developments in Epoxy Curing Agent Market

1. Increased Demand in Construction Sector: The epoxy curing agents market is experiencing increased demand from the construction industry for applications such as adhesives, coatings, and sealants. Epoxy curing agents are used in construction materials for their superior bonding strength, chemical resistance, and durability, contributing to the development of high-performance infrastructure and buildings. (Source: Construction industry reports, market analysis)

2. Technological Advancements: Continuous research and development efforts are leading to advancements in epoxy curing agent technology, resulting in materials with improved curing properties, faster cure times, and enhanced performance characteristics. New curing agents with lower toxicity, improved shelf life, and better compatibility with various epoxy resins are being developed to meet customer requirements. (Source: Materials science research, chemical engineering journals)

3. Focus on Green and Sustainable Solutions: Sustainability considerations are driving innovations in the epoxy curing agents market, with manufacturers developing eco-friendly formulations and production processes. Bio-based curing agents, renewable raw materials, and energy-efficient manufacturing techniques are being utilized to reduce environmental impact and meet regulatory requirements. (Source: Sustainability reports, industry conferences)

4. Application in Wind Energy Sector: The wind energy sector represents a growing market for epoxy curing agents used in the manufacturing of wind turbine blades. Epoxy resins and curing agents are essential components of composite materials used in blade construction, providing structural integrity, fatigue resistance, and protection against environmental factors. (Source: Renewable energy industry reports, wind turbine manufacturers)

5. Expansion into Automotive and Aerospace Industries: Epoxy curing agents find applications in the automotive and aerospace industries for manufacturing lightweight composite components, such as body panels, interior parts, and aircraft structures. The high strength-to-weight ratio, heat resistance, and design flexibility of epoxy composites make them ideal for use in these sectors. (Source: Automotive and aerospace industry publications, composite material suppliers)

6. Market Consolidation and Strategic Partnerships: The epoxy curing agents market is witnessing consolidation through mergers, acquisitions, and strategic partnerships among key players in the industry. These consolidation activities aim to strengthen market position, expand product portfolios, and improve operational efficiency. Collaborations between epoxy resin producers, curing agent manufacturers, and end-users drive innovation and market growth. (Source: Business news, company announcements)

Features of Epoxy Curing Agent Market

• Market Size Estimates: Epoxy curing agent market size estimation in terms of value ($M) and volume (M lbs)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Market size by end use, product type, and region
• Regional Analysis: Epoxy curing agent market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different end use industry, product type, and regions for the epoxy curing agent market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the epoxy curing agent market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the epoxy curing agent market size?

Answer:The global epoxy curing agent market is expected to reach an estimated $1,121 million by 2030.

Q2. What is the growth forecast for epoxy curing agent market?

Answer:The epoxy curing agent market is expected to grow at a CAGR of 5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the epoxy curing agent market?

Answer: The major growth drivers for this market are increasing use of high-performance epoxy based composite materials and the growth of end uses.

Q4. What are the major applications or end use industries for epoxy curing agent?

Answer:Wind energy and pipe and tank are the major end uses for epoxy curing agent.

Q5. What are the emerging trends in epoxy curing agent market?

Answer:Emerging trends, which have a direct impact on the dynamics of the industry, includes development of curatives to address specific needs of customer industries, expansion in low cost regions and high growth markets, and increasing inter-material competition and switching.

Q6. Who are the key epoxy curing agent companies?

Answer:Some of the key epoxy curing agent companies are as follows:

• BASF SE
• Evonik
• Huntsman Corporation
• Westlake Chemical Corporation
• Dow Inc.
• Cardolite Corporation

Q7.Which epoxy curing agent product type segment will be the largest in future?

Answer: Lucintel forecasts that aliphatic amines will remain the largest segment and cycloaliphatic amines is expected to witness the highest growth over the forecast period due to its better mechanical properties like; low viscosity, rapid cure at elevated temperature, high thermal resistance, and improved blush resistance.

Q8: In epoxy curing agent market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to remain the largest region and North America witness the highest growth over next 5 years.

Q9. Do we receive customization in this report?

Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1 What are some of the most promising potential, high growth opportunities for the global epoxy curing agent market by end use (wind energy, pipe and tank, aerospace, and others), product type (aliphatic amines, aromatic amines, cycloaliphatic amines, dicyandiamide, anhydride, and catalyst), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q. 2 Which segments will grow at a faster pace and why?
• Q.3 Which regions will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
• Q.5 What are the business risks and threats to the market?
• Q.6 What are the emerging trends in this market and the reasons behind them?
• Q.7 What are the changing demands of customers in the market?
• Q.8 What are the new developments in the market? Which companies are leading these developments?
• Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
• Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
• Q.11 What M & A activities have taken place in the last 5 years in this market?