Curing Agent Market Overview
The global curing agent market is expected to witness a significant growth during the forecast period owing to the wide scope of application such as coatings, composites, adhesives, and others. The increasing demand of curing agents in coatings for automotive, electrical & electronics, building & construction, and marine is expected to drive the global market. With the growth of these industries, the demand for curing agent is likely to reach its peak during the review period.
Curing Agent Market Segmentation
The global curing agent market size has been segmented by type, application, and region.
By type, the global curing agent industry has been divided epoxy, polyurethane, silicone rubber, and others. The epoxy segment accounted for the largest market share in 2017 on account of the ease of handling and convenient mix ratios, improved cure system strength, flexibility and toughness, improved peel and impact strength, improved cured system chemical, solvent and water resistance, and its ability to alter the reactivity of the system.
Based on application, the market has been segmented into coatings, adhesives, composites, wind energy, and others. The coatings segment is dominated the market in 2017 on the backdrop of extensive use of curing agents in primers to enhance the adhesion quality of coated parts in marine, automotive, building & construction, and other applications. These are majorly used on metal surfaces where corrosion and chemical resistance are important to protect them from damage or wear.
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Curing Agent Market Regional Analysis
Regionally, the global market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific dominated the global curing agent market in 2017 due to the high demand from automotive and construction industry. The rapid industrialization and urbanization in the emerging economies such as India, Thailand, and Indonesia are the primary factor affecting the growth of the curing agent market.
The high production and sales of automobile parts in Western European countries such as Germany, Italy, UK, and France are expected to drive the demand for automobiles, which will further drive the demand for curing agent.
The demand for curing agent from applictaions in major end-use industries such as automotive, builidng & construction, electrical & electronics, and marine industries is driving the demand for curing agent in the North American region.
Some of the manufacturers operating in the global curing agent market trends are Evonik Industries AG (Germany), BASF SE (Germany), Huntsman International LLC (US), Hexion (US), Olin Corporation (US), Cardolite (US), Aditya Birla Chemicals (India), Mitsubishi Chemical Corporation (Japan), Atul Ltd (India), Albemarle Corporation (US), GABRIEL (US), Campbell Plastics (UK), Arnette Polymers, LLC (US), Cargill, Incorporated (US), Epochemie International Pte Ltd (Singapore), KUMIAI CHEMICAL INDUSTRY CO., LTD. (Japan), and LEUNA-Harze GmbH (Germany).
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