Curing Agent Market by Type and Geography - Forecast and Analysis 2022-2026

Published: Aug 2022

Pages: 132

SKU: IRTNTR74033

Snapshot

The curing agent market share is expected to increase by USD 2.09 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.11%.

This curing agent market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers curing agent market segmentation by type (epoxy, polyurethane, silicone rubber, and others) and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The curing agent market report also offers information on several market vendors, including Aditya Birla Management Corp. Pvt. Ltd., Albemarle Corp., Atul Ltd., BASF SE, Campbell Plastics Ltd., Cardolite Corp., Cargill Inc., Evonik Industries AG, Hexion Inc., Huntsman International LLC, KUKDO Chemical Kunshan Co. Ltd., Kumiai Chemical Industry Co. Ltd., LEUNA Harze GmbH, Mitsubishi Chemical Corp., Nan Ya Plastics Corp., Olin Corp., RPM International Inc., Shandong Deyuan Epoxy Resin Co. Ltd., Vijai Poly Products Pvt. Ltd., and Yunteh Industries among others.

What will the Curing Agent Market Size be During the Forecast Period?

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Curing Agent Market: Key Drivers, Trends, and Challenges

The increased demand for epoxy resin systems as a primer is notably driving the curing agent market growth, although factors such as environmental regulations affecting market growth may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the curing agent industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Curing Agent Market Driver

Increased demand for epoxy resin systems as a primer is one of the major drivers impacting the curing agent market growth. The epoxy resin system is applied before painting as its acts as a sealer. Epoxy primers are used in all types of steel surfaces in industrial and commercial environments exposed to environmental conditions for corrosion protection. It protects steel, pipes, bridges, offshore platforms, marine hulls, superstructures, and decks from corrosion. It provides excellent adhesion to steel, galvanized steel, and aged epoxy surfaces. They are commonly used to coat metal cans and containers, especially those used to hold acidic food, such as tomatoes. Fast-drying and handling properties, along with extended overcoating ability, make them excellent primers for factory applications. Epoxy primers have good abrasion resistance to help resist mechanical damage during transportation. These primers can also be used on cracks and dents. Their bonding capacity is excellent and produces a good surface finish. As most epoxy primer systems come with curing agents, the wide applications of epoxy resin systems are expected to drive the growth of the market in focus during the forecast period.

Key Curing Agent Market Trend

New product launches are one of the major trends influencing the curing agent market growth. Product launches by regional and international players contribute to the growth of the global curing agent market. Successful new product launches are expected to accelerate the growth of the vendors operating in the global curing agent market by increasing their revenue flow and expanding their consumer base. New product launches increase the market shares of players and offer them a competitive edge over their rivals. Some of the new product launches are, In March 2020, Gabriel Performance Products, LLC announced the launch of new epoxy curing agents, VERSACURE RAC 9040 and RAC 9010UV. These products have applications in countertop, tabletop, and clear coating applications. In December 2021, Evonik Industries AG launched Anquamine 469, a water-borne epoxy curing agent. The new solution is corrosion-resistant and is suitable for heavy industrial coatings. Such new product launches will help established vendors to expand their market share in untouched consumer segments, which will further foster market growth.

Key Curing Agent Market Challenge

Environmental regulations affecting the market growth are one of the major trends influencing the curing agent market growth. Solvent-borne epoxy resin systems contain volatile chemicals that are potentially hazardous to the environment. Regulatory authorities across countries in Western Europe and North America have imposed stringent regulations to curb the hazardous effects of such products. For instance, in the EU, the Restriction of Hazardous Substances (RoHS) directive focuses on safeguarding the environment. It directs vendors to use chemical products that do not contain hazardous substances, such as mercury, lead, hexavalent chromium, cadmium, polybrominated biphenyl, and polybrominated diphenyl ethers. Such directives compel vendors to develop solutions that generate low levels of volatile organic compounds. Hence, vendors are increasingly focusing on developing high-solid solvent-borne epoxy resin systems that are relatively eco-friendly and regulation-compliant.

This curing agent market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global curing agent market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the curing agent market during the forecast period.

Who are the Major Curing Agent Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the curing agent market encompasses successful business strategies deployed by the key vendors. The curing agent market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The curing agent market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Curing Agent Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the curing agent market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Curing Agent Market?

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50% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the curing agent market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Steady economic expansion will facilitate the curing agent market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

With COVID-19 vaccination drives and the relaxation of lockdown norms, the regional market started to rebound in H1 2021. Automotive production and construction activities slowly improved in 2021, which positively impacted the regional market growth. During the forecast period, the regional curing agent market is expected to witness high growth, owing to rapid urbanization across China and India and the high adoption of EVs in China.

What are the Revenue-generating Type Segments in the Curing Agent Market?

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The curing agent market share growth in the epoxy segment will be significant during the forecast period. The demand for epoxy resin-based paints and coatings is expected to grow during the forecast period because of the wide range of architectural applications of epoxy resins.

This report provides an accurate prediction of the contribution of all the segments to the growth of the curing agent market size and actionable market insights on the post-COVID-19 impact on each segment.

Curing Agent Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.11%
Market growth 2022-2026	$ 2.09 billion
Market structure	Fragmented
YoY growth (%)	6.5
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 50%
Key consumer countries	US, China, Japan, India, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Aditya Birla Management Corp. Pvt. Ltd., Albemarle Corp., Atul Ltd., BASF SE, Campbell Plastics Ltd., Cardolite Corp., Cargill Inc., Evonik Industries AG, Hexion Inc., Huntsman International LLC, KUKDO Chemical Kunshan Co. Ltd., Kumiai Chemical Industry Co. Ltd., LEUNA Harze GmbH, Mitsubishi Chemical Corp., Nan Ya Plastics Corp., Olin Corp., RPM International Inc., Shandong Deyuan Epoxy Resin Co. Ltd., Vijai Poly Products Pvt. Ltd., and Yunteh Industries
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Curing Agent Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive curing agent market growth during the next five years
Precise estimation of the curing agent market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the curing agent industry across APAC, Europe, North America, South America, and the Middle East, and Africa
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of curing agent market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments
- Exhibit 24: Chart on Type - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

5.2 Comparison by Type
- Exhibit 26: Chart on Comparison by Type
- Exhibit 27: Data Table on Comparison by Type

5.3 Epoxy - Market size and forecast 2021-2026
- Exhibit 28: Chart on Epoxy - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Epoxy - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Epoxy - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Epoxy - Year-over-year growth 2021-2026 (%)

5.4 Polyurethane - Market size and forecast 2021-2026
- Exhibit 32: Chart on Polyurethane - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Polyurethane - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Polyurethane - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Polyurethane - Year-over-year growth 2021-2026 (%)

5.5 Silicone Rubber - Market size and forecast 2021-2026
- Exhibit 36: Chart on Silicone Rubber - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Silicone Rubber - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Silicone Rubber - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Silicone Rubber - Year-over-year growth 2021-2026 (%)

5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by Type
- Exhibit 44: Market opportunity by Type ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026
- Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 North America - Market size and forecast 2021-2026
- Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 Japan - Market size and forecast 2021-2026
- Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.11 India - Market size and forecast 2021-2026
- Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)

7.12 Germany - Market size and forecast 2021-2026
- Exhibit 86: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption

9.4 Industry risks
- Exhibit 94: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 95: Vendors covered

10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification

10.3 Aditya Birla Management Corp. Pvt. Ltd.
- Exhibit 97: Aditya Birla Management Corp. Pvt. Ltd. - Overview
- Exhibit 98: Aditya Birla Management Corp. Pvt. Ltd. - Product / Service
- Exhibit 99: Aditya Birla Management Corp. Pvt. Ltd. - Key offerings

10.4 Albemarle Corp.
- Exhibit 100: Albemarle Corp. - Overview
- Exhibit 101: Albemarle Corp. - Business segments
- Exhibit 102: Albemarle Corp. - Key news
- Exhibit 103: Albemarle Corp. - Key offerings
- Exhibit 104: Albemarle Corp. - Segment focus

10.5 BASF SE
- Exhibit 105: BASF SE - Overview
- Exhibit 106: BASF SE - Business segments
- Exhibit 107: BASF SE - Key news
- Exhibit 108: BASF SE - Key offerings
- Exhibit 109: BASF SE - Segment focus

10.6 Cardolite Corp.
- Exhibit 110: Cardolite Corp. - Overview
- Exhibit 111: Cardolite Corp. - Product / Service
- Exhibit 112: Cardolite Corp. - Key offerings

10.7 Evonik Industries AG
- Exhibit 113: Evonik Industries AG - Overview
- Exhibit 114: Evonik Industries AG - Business segments
- Exhibit 115: Evonik Industries AG - Key news
- Exhibit 116: Evonik Industries AG - Key offerings
- Exhibit 117: Evonik Industries AG - Segment focus

10.8 Hexion Inc.
- Exhibit 118: Hexion Inc. - Overview
- Exhibit 119: Hexion Inc. - Business segments
- Exhibit 120: Hexion Inc. - Key news
- Exhibit 121: Hexion Inc. - Key offerings
- Exhibit 122: Hexion Inc. - Segment focus

10.9 Huntsman International LLC
- Exhibit 123: Huntsman International LLC - Overview
- Exhibit 124: Huntsman International LLC - Business segments
- Exhibit 125: Huntsman International LLC - Key news
- Exhibit 126: Huntsman International LLC - Key offerings
- Exhibit 127: Huntsman International LLC - Segment focus

10.10 KUKDO Chemical Kunshan Co. Ltd.
- Exhibit 128: KUKDO Chemical Kunshan Co. Ltd. - Overview
- Exhibit 129: KUKDO Chemical Kunshan Co. Ltd. - Product / Service
- Exhibit 130: KUKDO Chemical Kunshan Co. Ltd. - Key offerings

10.11 Mitsubishi Chemical Corp.
- Exhibit 131: Mitsubishi Chemical Corp. - Overview
- Exhibit 132: Mitsubishi Chemical Corp. - Business segments
- Exhibit 133: Mitsubishi Chemical Corp. - Key news
- Exhibit 134: Mitsubishi Chemical Corp. - Key offerings
- Exhibit 135: Mitsubishi Chemical Corp. - Segment focus

10.12 Olin Corp.
- Exhibit 136: Olin Corp. - Overview
- Exhibit 137: Olin Corp. - Business segments
- Exhibit 138: Olin Corp. - Key offerings
- Exhibit 139: Olin Corp. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 140: Inclusions checklist
- Exhibit 141: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 142: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 143: Research methodology
- Exhibit 144: Validation techniques employed for market sizing
- Exhibit 145: Information sources

11.5 List of abbreviations
- Exhibit 146: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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