Curing Agents are substances used to reduce curing time of materials such as cement, paints, and coating which consequently reduces the total manufacturing time and cost. Curing Agents applied on polymer surfaces help to facilitate the bonding of the molecular components of materials.
Moreover, specific properties imbued into the application materials by these agents, such as anti-shrinkage & static, excellent adhesion, and high resistance to chemicals, corrosion, impact & solvent, make them an irreplaceable component in the production of paints, coating, adhesives, cement, etc.
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The huge uptick had predominantly driven the Curing Agent Market in the sales and production in some key industries such as the manufacturing of composites used in the automotive, aircraft, and marine production. Construction and electronics industries are other key application areas of curing agents. As a result, curing agents witness a vast consumption in paints and coating & adhesive manufacturing industry which further allows these agents to enjoy a massive uptake and demand continually.
Considering the rapid expansion, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the Global Curing Agent Market will reach approximately USD 4632 MN by 2023, registering a CAGR over 6.5% throughout the review period (2018-2023).
Global Curing Agent Market – Segments
For ease of understanding, the report is segmented into three key dynamics: –
By Type: Epoxy, Polyurethane, and Silicone Rubber among others.
By Application: Coatings, Adhesives, Composites, and Wind Energy among others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Curing Agent Market – Competitive Landscape
Fiercely competitive the Curing Agent Market appears to be fragmented due to the presence of several large and small-scale players. Focused on improving their market performance these players are increasingly acquiring promising companies to expand their reach in the emerging markets. Growing innovations in product and technologies are creating strong investment opportunities for market players.
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Industry/ Innovation/ Related News:
March 12, 2019 – Hexion Inc. (the US), a leading chemical company introduced two-component epoxy solution specially designed for aerospace composites production. The complete system of resin, curing agent, metering and mixing equipment and analytical control increases manufacturing efficiency while maintaining part mechanical performance. This first-of-its-kind component epoxy manufacturing solution helps in relieving constraints occurred during the production of aerospace composites while maintaining the highest level of performance in finished parts.
Key players leading the Global Curing Agent Market include BASF SE (Germany), Evonik Industries AG (Germany), Huntsman International LLC (US), Olin Corporation (US), Hexion (US), Cardolite (US), Mitsubishi Chemical Corporation (Japan), Aditya Birla Chemicals (India), Atul Ltd (India), GABRIEL (US), Albemarle Corporation (US), Campbell Plastics (UK), Cargill, Incorporated (US), Arnette Polymers, LLC (US), Epochemie International Pte Ltd (Singapore), LEUNA-Harze GmbH (Germany), and Kumiai Chemical Industry Co., Ltd. (Japan) among others.
Global Curing Agent Market – Geographical Analysis
The Asia Pacific region, heading with the high production and sales in the burgeoning automobile sector dominates the Global Curing Agent Market. The region accounts for the largest producer and consumer of these agents. Moreover, factors such as the augmenting demand from the end-user industries like coatings, adhesives, and electronics drive the curing agent market in the region.
Furthermore, the burgeoning construction industry in the region led by the rapid industrialization and urbanization in the rapidly developing countries such as India, Thailand, Malaysia, and Singapore, is propelling the growth of the regional market, creating a huge demand for curing agents.
Also, the APAC region has been continuously attracting foreign investors due to its ample availability of cost-competitive logistics such as land, workforce, and raw materials. Moreover, favorable governmental policies are encouraging manufacturers from developed countries to shift their production bases to this region.
The Curing Agent Market in the European region accounts for the second largest market, globally. This market has predominantly been led by the spurting paints & curing industry backed by the dynamic automotive sector. Moreover, factors such as the increased production and sales of automobile parts in the Western European countries such as Germany, Italy, UK, and France are fostering the regional market, creating substantial demand for Curing Agents. Continuing with the same growth trends the region is expected to register fabulous accruals over the review period.
The North America Curing Agent Market is rapidly emerging as a profitable market, globally. The region witnesses the increasing consumption of these materials, flowing the European region closely. Due to the growing demand for adhesive and coating for composites in the manufacturing of marine and aerospace in the US & Canada, the region accounts for a considerable market share.
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