Epoxy Curing Agents Market worth 5.02 Billion USD by 2022
The Epoxy Curing Agents Market Global Industry Report is estimated to grow from USD 3.60 billion in 2017 to USD 5.02 billion by 2022, at a CAGR of 6.84% between 2017 and 2022.
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Increasing demand in emerging countries in Asia-Pacific, high growth in end-use industries, and the shift in consumer preference toward high-quality standard products are expected to propel the growth of the epoxy curing agents market.
The report covers the epoxy curing agents market segmented on the basis of type, application, and region. The growing usage of epoxy resins in end-use industries, improved quality of products, and increased demand for durable products key factors expected to drive the market in the coming years. The growing demand from Asia-Pacific and MEA is driving companies to invest in these regions to increase their market share and geographical presence.
Based on application, the coatings segment is projected to lead the epoxy curing agents market, while the wind energy segment is projected to witness highest growth during the forecast period.
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Based on type, the amine-based curing agent segment is expected to lead the epoxy curing agents market during the forecast period. Amine-based curing agents are preferred over other types, as these agents are more durable and chemical resistant. The major applications of amine-based curing agents include coatings, adhesives, composites, electrical & electronics, and construction, among others.
Asia-Pacific is estimated to be the largest market for epoxy curing agents, due to increased technological and infrastructural developments and consumer awareness in the region. Research institutions and various manufacturers are taking initiatives and making investments in R&D for the technological development of epoxy curing agents in terms of cost and durability, and to improve the properties of the epoxy curing agents for end-use applications.
Key market players are expected to adopt growth strategies such as investments & expansions, new product developments, mergers & acquisitions, and partnerships, agreements & joint ventures to achieve growth in the epoxy curing agents market in near future. There is a rising demand for epoxy curing agents in applications, including coatings, wind energy, composites, and adhesives, among other applications.
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