Curing Agent Market to grow at a CAGR of 7.1% during 2024-2028
The Curing Agent Market is expected to grow at a CAGR of 7.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.08 billion. The global curing agent market experiences growth through new product launches by both regional and international players. These innovations contribute significantly to the revenue growth and consumer base expansion of market participants. Notable launches include Evonik Industries' UV-resistant epoxy curing agent, Ancamine 2880, introduced in April 2024, and Hexion's new epoxy system and curing agent, launched in August 2022 to cater to the escalating demand for epoxy resins and curing agents across various applications. These new product launches not only increase market shares but also provide a competitive edge to vendors in the global curing agent market.
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Technavio analysts predict that the Epoxy subsegment will lead the Type segment during 2024 and 2028 The Curing Agent Market is a significant sector in the global industrial landscape, with key players continually innovating to meet the evolving demands of various industries. These agents play a crucial role in enhancing the durability and performance of end products, particularly in construction, coatings, and adhesives. Market growth is driven by factors such as increasing infrastructure development, rising consumer awareness, and stringent regulatory compliance. Companies are investing in research and development to introduce advanced curing agents that offer superior properties and sustainability.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the Global Curing Agent Market include:
There are several factors that are causing the market to flourish increased demand for epoxy resin systems as primer
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The Curing Agent Market encompasses a wide range of applications, including resins for electronics, sealants, varnishes, and protective coatings for composites and paints. Epoxy curing agents are a significant segment of this market, used in the production of cross-linked polymers for various industries. Volatile organic compounds (VOCs) have been a concern in curing agents due to their environmental impact. However, the shift towards eco-friendly solutions, such as bio-based alternatives, is gaining momentum. In the electronics industry, epoxy curing agents provide excellent electrical insulation and mechanical durability. In wind energy, curing agents are essential for the production of lightweight and strong composite materials used in wind turbine blades. Paints and coatings also rely on curing agents for thermal properties and chemical resistance. Amines and anhydrides are common types of epoxy curing agents, with exothermic curing being a popular method for rapid curing. Curing agents play a crucial role in the production of adhesives and sealants, ensuring mechanical durability and chemical resistance. The construction industry also benefits from protective coatings and adhesives that use curing agents for improved performance and sustainability. Overall, the curing agent market continues to evolve, driven by the demand for advanced materials, eco-friendly solutions, and the pursuit of environmental sustainability.
The global specialty chemicals industry encompasses businesses specializing in high-value-add chemicals used in the production of a diverse range of products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio's market analysis, the market size is determined by the consolidated revenue generated by these manufacturers. Key growth drivers for the specialty chemicals market include the increasing preference for specialty adhesives and sealants, driven by the expanding demand for these products in various industries.
The Curing Agent Market is experiencing significant growth, fueled by the increased demand for epoxy resin systems as primer. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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