Curing agent is used to make a substance hard and rigid. It is applied on the surface of the material so that it makes the molecular bond between them stronger and ultimately makes the material harder. It is produced through a chemical process by cross-linking of polymer chains. It has many uses and application. Aliphatic polyamines and derivatives are the most commonly used curing agents.
Curing agent is used in coating industry to enhance the adhesion quality especially on metal surface to prevent it from corrosion and chemical resistance. It is a chemical and physical process in which polymerization and evaporation takes place, which makes the bond on the surface of the material strong and stable. Curing agent is used in variety of applications, including marine, can & coil, decorative, protective and general industrial coating.
The growth in use of curing agent in different applications such as epoxy resin, paints, and coatings are drives the curing agent market. Moreover, increased consumption of epoxy curing agent in construction sector is likely to drive the market growth during the forecast period. The rapid growth of industries such as ships and paints & coatings has increased the demand for curing agents. In addition, the systematic framework of supply of these things help in market growth. However, stringent environmental regulations can hamper the demand for curing agent. Moreover, the hike in prices could hamper the global market of curing agent.
The curing agent market is segmented on the basis of type and end-use industry. By type, the market is categorized into epoxy, polyurethane, silicone rubber, and others. On the basis of end-use industry, the market is fragmented into paints & coatings, building & construction, electrical & electronics, composites, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global curing agent market are Albemarle Corporation, Alfa Chemical, Arnette Polymers LLC, Atul Ltd, BASF SE, Cardolite Corporation, Epochemie - Epoxy Curing Agents, Evonik Industries AG, Hexion Inc., Huntsman Corporation, Kumho P&B Chemicals, Inc., Mitsubishi Chemical Holdings Corporation, Olin Corporation, Shandong Deyuan Epoxy Resin Co. Ltd, Vijai poly products Pvt.
Other players operating in the curing agent market are LEUNA-Harze GmbH, Cargill, Aditya Birla Chemicals, Kumiai Chemical Industry Co. Ltd.
IMPACT OF COVID-19 ON THE GLOBAL CURING AGENT MARKET
- The recent COVID-19 pandemic negatively impacted the market for curing agents in a significant way.
- During COVID-19, the demand for curing agents in the construction, transportation and industrial sectors has decreased as a result of the closure of several industrial manufacturing facilities.
- The most of these sectors have experienced damage as a result of insufficient transportation and labor shortages during the pandemic.
- The need for curing agents has expanded alongside the demand for medical equipment like as incubators and other medical storage devices.
- As a consequence, it is anticipated that the mentioned factors would restrain the growth of the global curing agent market in the near future.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the curing agents market analysis from 2021 to 2031 to identify the prevailing curing agents market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the curing agents market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global curing agents market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Epoxy
- Polyurethane
- Silicone Rubber
- Others
By End use industry
- Paints and coatings
- Building and construction
- Electrical and Electronics
- Composites
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- Germany
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Evonik Industries AG
- BASF SE
- Huntsman International LLC
- Hexion
- Olin Corporation
- Cardolite
- cardolite
- aditya birla chemicals
- Mitsubishi Chemical Corporation
- Atul Ltd
- Albemarle Corporation
- Arnette Polymers
- cargill
- Alpha chemicals
- KUMIAI CHEMICAL INDUSTRY CO. LTD.
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Table of Contents
Executive Summary
According to the report, titled, “Curing Agents Market," the curing agents market was valued at $11.3 billion in 2021, and is estimated to reach $22.2 billion by 2031, growing at a CAGR of 7.0% from 2022 to 2031.A curing agent helps in the setting and hardening of a surface by assisting the bonding of the material's molecular constituents. A curing agent is known as a cross linker that facilitates the polymerization process by reacting with the functionalities of the polymer material and after the reaction, the curing agent remains in the polymer build.
Three different kinds of curative agents exist mainly:
- Substances that interact with the surface where they are applied.
- Catalysts that don't interact with the surface of the material.
- Agent initiators that alter the hardening processes but do not continue to react with the system.
- Metallic Coatings: Marine, Protective, Oil & Gas, OEM, Aerospace.
- Civil Engineering: Flooring, Building Maintenance, Roads and Bridges.
- Composites and Adhesives: Windmill Blades, Automotive Sector for adhesion, Fiber Composites technology.
The curing agent market is segmented on the basis of type, end-use industry, and region. On the basis of type, the market is categorized into epoxy, polyurethane, silicone rubber, and others. On the basis of end-use industry, the market is categorized into paints & coatings, building & construction, electrical & electronics, composites, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players that operate in the global curing agent market include Albemarle Corporation, Alfa Chemical, Arnette Polymers LLC, Atul Ltd, BASF SE, Cardolite Corporation, Epochemie - Epoxy Curing Agents, Evonik Industries AG, Hexion Inc., Huntsman Corporation, Kumho P&B Chemicals, Inc., Mitsubishi Chemical Holdings Corporation, Olin Corporation, Shandong Deyuan Epoxy Resin Co. Ltd, and Vijai poly products Pvt.
Other players operating in the curing agent market are LEUNA-Harze GmbH, Cargill, Aditya Birla Chemicals, and Kumiai Chemical Industry Co. Ltd.
Key Findings of the Study
- The report outlines the current curing agent market trends and future scenario of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets.
- The curing agent market size is provided in terms of revenue and volume.
- Depending on type, the epoxy segment is expected to grow at a CAGR of 6.4%, in terms of revenue, during the forecast period.
- Depending on end-use industry, the paints and coatings segment is expected to grow at a CAGR of 6.6%, in terms of revenue, during the forecast period.
- Region wise, Asia-Pacific garnered a share of 8.1% in 2021 in terms of revenue.
- COVID-19 impact analysis on the global curing agent market
- The recent COVID-19 pandemic negatively impacted the market for curing agents in a significant way.
- During COVID-19, the demand for curing agents in the construction, transportation and industrial sectors has decreased as a result of the closure of several industrial manufacturing facilities.
- The most of these sectors have experienced damage as a result of insufficient transportation and labor shortages during the pandemic.
- The need for curing agents has expanded alongside the demand for medical equipment such as incubators and other medical storage devices.
- As a consequence, it is anticipated that the mentioned factors would restrain the growth of the global curing agent market in the near future.
Companies Mentioned
- Evonik Industries AG
- Basf Se
- Huntsman International LLC
- Hexion
- Olin Corporation
- Cardolite
- Cardolite
- Aditya Birla Chemicals
- Mitsubishi Chemical Corporation
- Atul Ltd
- Albemarle Corporation
- Arnette Polymers
- Cargill
- Alpha Chemicals
- Kumiai Chemical Industry Co. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 316 |
Published | July 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 11.3 billion |
Forecasted Market Value ( USD | $ 22.2 billion |
Compound Annual Growth Rate | 7.0% |
Regions Covered | Global |
No. of Companies Mentioned | 15 |