The global curing agents market size is expected to grow at more than 6.31% CAGR from 2021 to 2029. It is expected to reach above USD 8.22 billion by 2029 from a little above USD 4.74 billion in 2020.
The characteristics of the finished product as well as curing kinetics, gel time, degree of curing, viscosity, and curing cycle are all influenced by curing agents, also referred to as hardeners. Curing chemicals are separated into three groups. The first categories of curing agents are active hydrogen-containing compounds and their derivatives. The second class of healing agents consists of cationic and anionic initiators. They work as a homopolymerization catalyst for epoxy glue. Tertiary amines, secondary amines, and metal alkoxides are a few examples of the compounds that can provide an anion and are used as anionic initiators for epoxy resins. The third kind of healing substance is reactive cross-linkers. They crosslink by self-condensation or with the secondary hydroxyl groups of the epoxy resins and have higher corresponding weights.
Rising use of epoxy healing agents in applications such as coatings, wind energy, electrical and electronics, construction, composites, adhesives, and others as a result of their expanding applicability and environmentally friendly nature, rising demand as a result of their expanding applicability and environmentally friendly nature, rising need for high-performance, durable, and user-friendly goods, and rising use of epoxy healing agent. Strict government regulations linked to the environment and public health, however, limit the market. On the other hand, the rising number of applications from developing countries and the existence of a strong electronics and electrical industry will further support the expansion of the Curing Agents Market in the aforementioned projected timeframe by generating sizable possibilities.
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Billion), (Kilotons) |
| Segmentation | By Type, By Application, By Region |
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| By Application
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The Curing Agents Market would likely experience market barriers during the forecast period as a result of rising environmental and health regulatory concerns, as well as increased rivalry from Chinese chemical manufacturers. The biggest and most important obstacle to the market's expansion will be the government's implementation of product regulations.
The market for curing agents suffered substantial losses as a result of the recent COVID-19 pandemic. Due to the closure of several industrial manufacturing facilities during COVID-19, there was a decline in the demand for curing agents in the building, transportation, and industrial sectors. Since there was a lack of transportation and manpower during the pandemic, the majority of these industries have suffered harm. Along with the rise in demand for medicinal supplies like incubators and other storage devices, the need for curing agents has also increased. The development of the global curing agent market is thus expected to be constrained in the near future by the aforementioned factors.
Some key players operating in the global curing agents market include Evonik Industries, Hexion Inc., BASF SE, Huntsman Corporation, Olin Corporation, Cardolite Corporation, Kukdo Chemical Co. Ltd., Aditya Birla Chemicals Ltd., Mitsubishi Chemical Corporation, Atul Limited.
Due to their use in a variety of uses, the demand for epoxy curing agents has increased, especially those based on amines. This has led to an increase in the global market for these products. The low volatility, low toxicity, and heat resistance of curing agents all help to drive the growth of the worldwide market.
The global curing agents market size was estimated at USD 5.04 billion in 2021 and is expected to reach USD 8.22 billion in 2029.
The global curing agents market is expected to grow at a compound annual growth rate of 6.31% from 2022 to 2029 to reach USD 8.22 billion by 2029.
The Asia Pacific dominated the global curing agents market with a share of 34% in 2022.
Based on type market is segmented into epoxy, polyurethane, silicone rubber, acrylics. During the forecast period, the epoxy sector is anticipated to hold the largest share. Epoxy compounds are used to create a variety of products, including coatings, adhesives, and composites. They are used as compounds to harden or cure a variety of materials in a variety of settings. In industries like coatings, renewable energy, electrical and electronics, construction, composites, adhesives, and others, it is anticipated that the use of epoxy curing agents will rise. The market for epoxy-based curing agents is expanding as a result of consumers' increasing demand for products that are high-performing, durable, and easy to use.
Based on application, market is segmented into building & construction, composites, paints & coatings, adhesives & sealants, electrical & electronics. In the market for global curing agents, the coating sector dominates. Curing agents are incorporated into primers to improve the adhesion quality of coated parts due to the numerous coating applications in the marine and other industries. This is especially true for metal surfaces, where corrosion and chemical resistance are crucial for protecting them from damage or deterioration.
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Key competitors from both domestic and international markets compete fiercely in the worldwide global curing agents industry are Evonik Industries, Hexion Inc., BASF SE, Huntsman Corporation, Olin Corporation, Cardolite Corporation, Kukdo Chemical Co. Ltd., Aditya Birla Chemicals Ltd., Mitsubishi Chemical Corporation, Atul Limited.
Recent News:The global curing agents market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
The most promising end-use market is still in APAC, and this tendency is expected to last for some time. The ongoing growth in the production of goods for use both locally and abroad is the primary driver of the demand for curing chemicals. The end-use industry has become a worldwide application industry hub as a result of innovation and development brought about by growing end-use industries and a growing population. The growth of smart cities and other initiatives like "housing for all" are anticipated to boost demand for construction materials like paints and coatings. It is anticipated that the market for curing agents will be driven by the rise in expenditures in wind energy that are encouraging the use of lightweight composites.
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