Enjoy complimentary customisation on priority with our Enterprise License!
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.
Download Report Sample to Unlock the Curing Agent Market Size for the Forecast Period and Other Important Statistics
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.
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.
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.
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.
For more insights on the market share of various regions Request PDF Sample now!
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.
To gain further insights on the market contribution of various segments Request a PDF Sample
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.