Global Epoxy Curing Market – Synopsis
Epoxy Curing Agents are substances used to reduce the curing time of Epoxy resins at temperatures between 5 ° C and 150 ° C. These agents also imbue specific properties into resins such as excellent adhesion, anti-shrinkage & static, and high resistance to chemicals, corrosion, impact & solvent. Epoxy resins modified with the curing agents are specially used in paints & coating, allowing a seamless application. The seamless coating ensures antimicrobial properties and makes these resins safe for use in food or pharmaceutical packaging material.
Simultaneously, modified epoxy resins offer adequate corrosion protection in the sectors such as chemical, energy, and pulp industry, desulphurization plants, and water treatment plants, etc. Moreover, owing to their other properties like quick-drying forming a durable layer, modified Epoxy resins are extensively applied on steel parts in ships, vehicles, electrical system & electronics, industrial & aerospace machine parts, among others. Application of these coating on the concrete floors & walls makes them water resistant.
Therefore, Epoxy resins cover a vast area of application across automotive, aircraft and marine manufacturing industries. Construction and electronics sectors are also the key application areas of these resins. Similarly, being an integral component of these resins, Epoxy Curing Agent witnesses a vast consumption of paints, coating & adhesive manufacturing industry. Attributing to its large uptake in these industries; Epoxy Curing market is ever increasing and garnering more prominence on the global platform.
Considering the rapid market expansion, & the growth potential the market holds, Market Research Future recently published a study report, giving out a complete market insight for the period 2017 – 2023. In its analysis MRFR asserts that the global Epoxy Curing market is forecasted to reach USD ~ 5099.32 million by 2023, registering a CAGR of ~6.8% during the review period.
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Factors such as augmenting demand from the burgeoning industries such as Building & Construction, Automotive & Transport, and Electricals & Electronics predominantly drive the Epoxy Curing market growth. Some trends in the automotive industry such as lightweight vehicles, letting out lower emission, offering maximum fuel efficiency are fostering its uptake and hence the market growth. Additionally, factors like increasing population, urbanization coupled with the improving economy worldwide that enhances consumers’ purchasing power contribute to the market growth.
Global Epoxy Curing Market – Competitive Landscape
The Epoxy Curing market is fiercely competitive with the several large and small players along with the new entrants forming a competitive landscape. Growing product innovations and technologies in the market are creating strong investment opportunities for the market players. These market players are focused on improving their market performance and increasingly acquire promising companies to expand in the fast-growing markets.
Industry/ Innovation/ Related News:
April 11, 2018 – Gabriel Performance Products, LLC (US), a leading global manufacturer of epoxy curing agents, additives, and specialty chemicals announced the acquisition of Royce International (US), a manufacturer of specialty epoxy resins, curing agents, and additives. The deal is expected to further expand Gabriel’s offerings of solutions for the Adhesives, Composites and Coatings, markets.
April 11, 2018 – Hexion Inc. (Momentive Specialty Chemicals Inc.US), a chemical company introduced its latest high-performance epoxy dispersion, EPI-REZ™ Resin 7720-W-50, at the American Coatings Show 2018. This solid epoxy dispersion when combined with EPIKURE™ Curing Agent 6870-W-53, offers performance comparable to solvent-borne systems at less than 50 grams/liter of volatile organic compounds (VOCs).
Global Epoxy Curing Market – Segments
For the convenience of the report and enhanced understanding; MRFR has segmented the Market into 3 key dynamics;
By Types (Epoxy Curing Agent) : Comprises Polyamide, Amines, Imidazoles, Anhydrides, Polymercaptan, Polymercaptan, and others (Dicyandiamide, Thiols, Photo and ultraviolet-curing agents, etc.).
By Applications: Coatings, Adhesives, Composites, Electronics, and others (wind energy, additives, etc.)
By Regions: North America, Europe, APAC and Rest of the World.
Epoxy Curing Market – Geographical Analysis
Globally, the Asia Pacific region accounts for the significant market share of the Epoxy Curing Market. Owing to the augmented demand from the end-user industries such as electronics, coatings, and adhesives in India, Japan, China and South Korea, the market is projected to retain its dominance in the global market during the review period. Moreover, the cost-competitive skilled labor available and the favorable governmental policies in the region is fostering the regional market growth. The APAC market is the largest consumer of the product followed by the North America market.
North America region accounts for the second largest market for Epoxy Curing agents, holding a considerable market share in the global market. Increasing demand for coatings, adhesives, composites in the manufacturing of marine and aerospace spaces in the US & Canada drives the regional market growth.
Europe accounts for the substantial market share in the Global Epoxy Curing Market owing to the spurting Paints & Curing industry backed by the dynamic automotive sector in the region. Continuing with the same growth trends the region is expected to register fabulous accruals during the assessment period.
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