What is Epoxy Curing Agent Market?
Epoxy resin systems consist of two parts i.e. A & B side. The B side, also known as hardener which is the epoxy curing agent; the curing agent is responsible for reacting with the epoxy groups contained in the epoxy resin A side. Reaction of curing agents with epoxy resins results in hard, thermoset materials. The global epoxy curing agents market is expected to grow at a healthy pace during the forecast period, according to the AMA study. Growing demand from construction & wind energy sectors and technological innovations in the manufacturing sector are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The market study is being classified by Type (Polyamide, Aliphatic Amine, Cycloaliphatic Amine, Aromatic Amine, Phenalkamine, Amidoamine, Dicyandiamide, Anhydride, Polymercaptan, Phenol, Catalyst and Others), by Application (Paint and Coatings, Composites, Electrical & Electronics, Construction, Adhesives and Others) and major geographies with country level break-up.
Aditya Birla Chemicals (India), Air Products and Chemicals, Inc. (United States), Atul Limited (India), BASF SE (Germany), Cardolite Corporation (United States), Epoxy Base Electronic Material Corporation Limited (China), Evonik Industries AG (Germany), Hexion Inc. (United States), Huntsman Corporation (United States), Kraton Polymers LLC (United States), Kukdo Chemical (South Korea), Mitsubishi Chemical Corporation (Japan) and The Dow Chemical Company (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Epoxy Curing Agent market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Epoxy Curing Agent market by Type, Application and Region.
On the basis of geography, the market of Epoxy Curing Agent has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand from Construction & Wind Energy
- Technological Innovations in the Manufacturing Sector
- Increasing Replacement of Dicyandiamide Curing Agent with Phenol
- Stringent Environmental Regulations Across European Region
- Opportunities in the Asia Pacific Region
- Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Epoxy Curing Agents
Analyst CommentSince the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the epoxy curing agents market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
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