April 25, 2022 12:18 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, April 25, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Epoxy Curing Agents Market By Type (Amine-based Curing Agents, Anhydrides Curing Agents, Others), By Application (Coatings, Electrical & Electronics, Wind Energy, Construction, Adhesive, Composite, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028” in its research database.
What is the Epoxy Curing Agents Market Growth?
“According to the latest research study, the demand for global Epoxy Curing Agents Market size & share was witnessed around USD 4,642.80 million in 2021 and is expected to surpass approximately USD 6,851.1 million by 2028, with a compound annual growth rate (CAGR) of roughly 6.7% over the forecast period 2022 to 2028.”
What is Epoxy Curing Agents? How big is the Epoxy Curing Agents Market?
Epoxy curing agents are used in multiple building and construction applications as they have high shear strength and better quality finish characteristics. The construction sector will majorly drive the epoxy curing agent’s market growth over the forecast period. Increasing investments in infrastructure development across the world are expected to boost epoxy curing agents' market potential.
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What are the factors driving the Epoxy Curing Agents Market?
Epoxy curing agents have also found application in wind energy plants as they are being used crucially in the manufacturing of wind turbine blades due to their high strength and quality finish characteristics. Rapid urbanization and industrialization are projected to have a positive influence on the global epoxy curing agent’s market growth through 2028.
Better bonding property makes epoxy curing agents a popular choice in multiple industrial applications and as research and development bolster across the world, new products with better characteristics are expected to be launched. Epoxy curing agents companies can maximize their revenue potential by creating sustainable offerings as the sustainability trend is on the rise on a global scale.
However, the environmental hazards associated with the use of epoxy curing agents are expected to have a restraining effect on the global epoxy curing agents market. Increasingly strict mandates against the use of volatile solvents, and toxic chemicals and rising awareness among the general population about the same are expected to negatively influence epoxy curing agent’s market growth through 2028.
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Which segment accounted for the largest Epoxy Curing Agents Market share?
The global epoxy curing agents market is segregated based on type, application, and region.
Based on Type, the market is separated into Amine-based Curing Agents, Anhydrides Curing Agents, and Others. Over the projection period, the amine-based curing agents segment will account for a significant market share and will continue to dominate the epoxy curing agent’s market growth trend until 2028. Better curing time and shelf life are two main aspects driving this segment's growth during the predicted period.
Based on application, the global market is distinguished into Coatings, Electrical & Electronics, Wind Energy, Construction, Adhesive, Composite, and Others. The wind energy segment will lead the market on a global scale and is projected to see high demand owing to the rising establishment of wind energy plants across the world. Increasing focus on sustainability will further bolster the growth of this segment.
What is the Impact of COVID-19 on Epoxy Curing Agents Market?
The COVID-19 pandemic that led to lockdowns and adverse economic conditions on a global scale led to the downfall of the epoxy curing agents market growth in 2020. The imposition of lockdowns hampered construction activity and hence hampered the sales revenue of the epoxy curing agent’s market companies.
As lockdowns are lifted and infections come under control the world will return to normal and this is expected to bring a steady demand back for the epoxy curing agents market in the post-pandemic era. The resumption of construction projects and high infrastructural activity will subsequently drive the market for epoxy curing agents over the forecast period.
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Who are the key players in the Epoxy Curing Agents Market?
Some of the main key players functioning in the global epoxy curing agents market include -
Key Insights from Primary Research:
Key questions answered in this report:
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Which region offers the best opportunity and growth for Epoxy Curing Agents Market?
Asia Pacific region leads the global Epoxy curing agents market and is expected to maintain this stance over the forecast period as well. High infrastructural development has led to a substantial increase in construction activity in this region and is propelling the epoxy curing agents market growth through 2028. Rapid urbanization and industrialization are prominent trends that are influencing the epoxy curing agents market potential in the developing economies of China and India which will emerge as the most significant markets in this region. The budding construction sector in most economies will also favor epoxy curing agents market growth in the Asia Pacific region over the forecast.
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The global epoxy curing agents market is segmented as follows:
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