Epoxy Curing Agents Market Shows Expected Trend to Guide from 2018-2025 with Growth Analysis
Epoxy curing agent has wide range of applications in industrial coatings, civil engineering & construction, automotive and metal-to-metal adhesives, composites, electronic potting among others. The various types of curing agents such as aliphatic, cycloaliphatic, amidoamine, polyamide and others have different molecular structure, basicity, and are of different functional groups. These properties allow the epoxy curing agents to control the curing reactions and also control the properties of cured thermosets. The increasing demand for high performance epoxy-based resin formulations for various applications such as paints & coatings, composites, and electronic applications is fueling growth of the epoxy curing agents market. Owing to industrialization in chemicals, aerospace, automobiles, and oil & gas sectors in Asia-Pacific; the region is expected to dominate the epoxy curing agents industry. Polyamide dominates the market due to its major applications in paints & coatings.
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Prevalent Scenario in Epoxy Curing Agents Market
Epoxy curing agents provide various advantages such as improved cure system strength, flexibility, impact strength, cured system chemical, and water resistance. Epoxy curing agents in amino groups are designed for low temperature curing, blush-free film, surface tolerant for applications in marine & industrial maintenance, pipe lining, coating and civil engineering. Waterborne curing agent products are designed for coating applications such as chemical resistant coating, corrosion resistant coating for end use, which include masonry coatings, floor toppings, and general maintenance coatings. Products under the range of amidoamine curing agents provide advantages such as low viscosity, improved adhesion, room temperature cure and are typically used in potting, high solid coatings, concrete coatings, adhesive formulations. Polyamide dominates the epoxy curing agent market with applications in wide range in adhesive applications such as primer, midcoat and topcoat applications on ships, bridges, industrial equipment, automotive, and industrial flooring. Properties of aliphatic amine curing agents such as high degree of chemical resistance, rapid room temperature cure, low color and viscosity, and high heat distortion temperatures for various end use applications, which include solvent-less coatings, chemical-resistant coatings, industrial flooring, adhesives, composites, tooling and casting. Cycloaliphatic amine curing agents have various benefits of chemical resistance, low viscosity and color films, high gloss and hence, finds wide use in coatings and flooring, chemical-resistant industrial formulations, and low temperature cure applications.
Companies are investing in R&D to innovate new products for wide range of applications. For instance, a part of investment of US$ 1.6 billion made by Dow chemical in R&D was used to enhance the epoxy technology and provide a wide range of high quality of epoxy curing agent products. Companies are launching low emission and waterborne curing agent products to meet the increasing demand for environmental friendly formulations. Companies such as Huntsman and Dow Chemicals are including environmentally responsible formulations of epoxy curing agent products.
Rapidly growing industries such as construction, automotive, composite manufacturing applications across the world, especially in Asia-Pacific region is the major driving factor for the global epoxy curing agents market. Technological advancements in the production and use of epoxy curing agents have resulted in the substantial market growth in North America. The key players are focusing on safe and economical production of epoxy curing agents in compliance to the regulations especially in the European region. Regulations imposed on the limited use of volatile organic solvents in Europe acts as a restraining factor for the growth of epoxy curing agents market in Europe.
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The global epoxy curing agents market is highly fragmented due to the presence of many established and local players across the world. Major players involved in the market include Huntsman Corporation (U.S.), Evonik Industries (Germany), Dow Chemical Company (U.S.), BASF SE (Germany), Cargill, Inc. (U.S.), Cardolite Corporation (U.S.), Hexion, Inc. (U.S.), Air Products and Chemicals, Inc. (U.S.),Mitsubishi Chemical Corporation (Japan),Aditya Birla Chemicals (India).
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