Epoxy Curing Agents Market, by Product Type (Low Temperature Cure and High Temperature Cure), by Application (Marine, Industrial & Protective, Construction, Adhesive and Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025

Epoxy Curing Agents– Insights

Epoxy curing agents are used to obtain optimum performance characteristics of epoxy resins by crosslinking with them. The selection of curing agents is totally dependent upon the process and end user requirements. Handling characteristics such as viscosity, pot life, gel time, and physical & chemical properties along with environmental limitations play a crucial role in the manufacturing of epoxy curing agents. Epoxy curing agents are mainly classified as aliphatic amines, polyamides, aromatic amines, anhydride, catalytic, polysulfide, and mercaptans. Each of them have advantages and dis-advantages over the other and for specific requirements. The global epoxy curing market has witnessed substantial growth due to its extensive applications in construction, coatings, adhesives, and electronics among others. High growth in construction activities in both, residential and no-residential sectors is increasing demand for high performance epoxy-based resins.  Increasing research and development activities to develop high performance curing agents is e expected to fuel growth of this market over the forecast period. However, stringent government regulations imposed on the use of volatile organic solvents, pose as a restraint for market growth. The impact of this restraint is expected to minimize due to technological advancement in epoxy curing manufacturing processes, helping the market cope with this challenge.   

Among product type, low temperature cure segment holds  the largest revenue and volume share in the global epoxy curing agents market and is expected to lead the market by witnessing a CAGR of 5.4% over the forecast period. Increasing demand for low temperature cure epoxy curing agents in paints and coatings application is projected to positively impact the growth of this segment in the near future.

Among application, construction segment accounted for the highest share both, in terms of  revenue and volume, in 2016. Increasing construction activities  due to the increasing demand for residential and non-residential infrastructure across the world is projected to maintain dominance of this segment over the forecast period.    

Asia Pacific accounted for highest revenue share and was valued at US$ 579.39 million in the global epoxy curing agents market in 2016. The region is expected to sustain its dominance  throughout the forecast period due to increasing government and private investment on infrastructure development. For instance, in 2015, the Indian Ministry of Road Transport, Highways and Shipping announced a target of US$ 376.53 billion investment in infrastructure sector by 2018. Asia Pacific is projected to be the fastest growing region in the global epoxy curing agents market and is projected to witnessing a CAGR of 6.2% over the forecast period.  

According to a study by Coherent Market Insights, the global epoxy curing agents market was valued at US$ 1,316.9 million in 2016 and is expected to witness a CAGR of 4.9%, in terms of revenue, over the forecast period (2017 – 2025).

Figure 1. Global Epoxy Curing Agents Market Share, by Region, 2017

epoxy curing agents market

Source: Coherent Market Insights 2017

Asia Pacific held highest revenue share of 44% in the global epoxy curing agents market, in 2016 and the region is projected to maintain its dominance throughout the forecast period. North America accounted for second largest market in 2016.

Major Players in the Global Epoxy Curing Agents Market

The major players in the epoxy curing agents market include Cardolite Specialty Chemicals India LLP, Dow Chemicals Company, BASF SE, Hexion, Inc., Huntsman India, and Aditya Birla Chemicals. Key players are strategically investing in the epoxy curing agents market, to enhance their product portfolio through collaboration, joint ventures, merger & acquisitions. For instance, in 2017, BASF and Gustav Grolman GmbH & Co. KG strengthened their collaboration in Europe for the processing of epoxy resins.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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