Epoxy curing agent Market – Market Overview
Epoxy is a colloquial name used for epoxide functional group. Epoxy resin is polymeric chemical compound consisting two of more epoxide groups. Curing agent is an additive that helps in toughening or hardening of a polymer material by cross-linking of polymer chains, brought about by electron beams, heat, or chemical additives. After curing, epoxy resin has excellent properties on mechanical strength, chemical resistance, and electrical insulation. The different types of curing agent available in the market are Amines, Polyamide, Imidazoles, Polymercaptan, Anhydrides, and Polymercaptan, among others.
The major applications of epoxy curing agent can found in coatings, construction, adhesives, composites, wind energy, electrical & electronics. The growth of the market is primarily driven by the growing construction activities, rapid urbanization and robust growth of composites market around the world. The emerging economies are investing significant share of their GDP in the infrastructural development, defence and marine sector. Coating is the largest application of epoxy curing agents with its major use in numerous industrial applications in order to protect the metal from corrosion and other harms.
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Increasing global trade has fuelled the growth of transportation sector, which is anticipated to boost the demand of epoxy curing agent in automotive, marine and aerospace industry. Consumer electronics has witnessed exponential rise in recent decade and is expected to retain the same growth trajectory during the forecast period on account of growing penetration of telecommunication devices and rapid digitization. This is projected to help push the demand for the product in electronics industry. The light weight vehicles in automotive industry is likely favour growth of the market and the trend is expected to remain same during the years to follow. Increasing research & development activities along with growing focus on technological innovations expected to provide fuel for the growth of this market over the review period.
Key Players:
Evonik Industries AG (Germany), BASF SE (Germany), Huntsman International LLC (US), Cardolite Corporation (US), Kukdo Chemical Co., Ltd. (South Korea), Aditya Birla Chemicals (India), Mitsubishi Chemical Corporation (Japan), Momentive Specialty Chemicals Inc. (US), The Dow Chemical Company (US), and Air Products and Chemicals, Inc. (US), among others are some of the prominent players at the forefront of competition in the global epoxy curing agent market and are profiled in MRFR Analysis.
Epoxy curing agent Market- Competitive Landscape
The global Epoxy Curing Agent Market is a matured market driven by flourishing growth in transportation sector, automotive industry, along with the building & construction industry. Evonik Industries AG, BASF SE, Huntsman International LLC, Cardolite Corporation, Mitsubishi Chemical Corporation are the leading players in this market. Majority of these key market participants are adopting he expansion and acquisition tactics in order to strengthen their market position. They are substantially addressing the product needs automotive, defence, marine, and construction industry to enjoy the profitability of this market. Taking into account these trends, the global epoxy curing agent market is likely to witness considerable growth and competition over the forecast period of 2017-2023.
Industry/ Innovation/ Related News:
July 1, 2017- Evonik Industries AG has combined its isophorone chemistry and epoxy curing agents business in the new Crosslinkers Business Line. This newly formed Business Line will be the part of the Resource Efficiency Segment. Crosslinkers Business Line offers a broad range of products and competences for coatings and adhesives, civil engineering as well as for high-performance elastomers and composites. This is projected to expand epoxy curing agent business and technology platform of the company.
September 12, 2017- Hexion Inc. has developed a new epoxy resin curing system which exhibit low fire, smoke and toxicity (FST) properties. This new product will provide manufacturers with a novel, homogeneous material for use in composite parts for aircraft interiors as well as marine, rail and architectural applications. The new epoxy resin system, EPON™ FlameX Resin 9600 / EPIKURE™ FlameX Curing Agent 9700, is halogen and phenolic free. It can be applicable in commercial aviation applications in cargo areas, seat interiors, lavatories, galleys or anywhere not requiring heat release compliance.
February 7, 2017- BASF and Gustav Grolman GmbH & Co. KG entered into an agreement to strengthen their collaboration in Europe for marketing amine-based curing agents for the professional processing of epoxy resins. Grolman expands the marketing of the BASF specialty chemicals under the Baxxodur® brand to France, Norway, Sweden, Finland and Denmark, specifically for use in epoxy resin based applications. This development will boost the sale of the epoxy curing agents in Europe by leveraging upon expertize and diversified know-how of Grolman GmbH.
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