The global market for curing agents is expected to be on course to achieve solid rate of growth over the course of the given period of forecast ranging from 2019 to 2027. The growth of the market is mainly driven by its expanding range of applications such as adhesives, composites, construction, electrical and electronics, wind energy, and coatings among others. With such wide range of application sectors, the market is thus expected to generate significant amount of revenues and reach a noteworthy valuation by the end of the given forecast period in 2027.
The epoxy resins are mainly used for production of composites, adhesives, and coatings among others notable products. These resins act as an additive that is used for curing or hardening several different materials in varying surroundings or environment. The growth in the utilization of these curing agents in variety of applications such as adhesives, composites, construction, electronics, electrical, wind energy, and coatings among others are expected to massively help the overall development of the global market. The market is also expected to benefit from the growing need for higher levels of performance, easy to use products, and durable products. Such demand is thus expected to create a strong developing ground for the overall growth of the global curing agents market.
Curing agents are primarily used in application sector such as general and protective industrial coatings, decorative coatings, can & coil coatings, and marine coatings among others. These curing agents are mainly used as primers to improve the quality of adhesion of the coated parts in marine applications, particularly on metal surfaces where there is a higher risk of corrosion and there is a urging need for chemical resistance to help protect those metal surfaces from the damage or wear and tear.
Global Curing Agents Market: Overview
The demand within the global market for curing agents has been rising on account of advancements in the field of chemical testing and manufacturing, The chemical industry has emerged as a hub of lucrative opportunities with several new ideas and techniques being developed each day. Curing agents have also emerged as a key ingredient of the chemical industry’s ecosystem, and this factor has played a significant role in the growth of the global market. Curing agents react with the external layer of coatings to solidify them into films. Henceforth, the global market for curing agents is projected to keep expanding in the years to come. The market dynamics of key end-use industries for curing agents have been changing over the past decade. This factor has in turn propelled demand within the global curing agents market in recent times. Furthermore, the relevance of curing agents in commercially relevant industries has also created a plethora of opportunities for market growth. Owing to the aforementioned factors, there is no contention about the projection that the global curing agents market would expand at a stellar pace in the years to come.
The global curing agents market can be segmented on the basis of the following parameters: type, application, end-use industry, and region. All of these segments play an important role in defining the growth dynamics of the global curing agents market.
A report added by Transparency Market Research (TMR) on the global curing agents market is a representation of the forces that have aided market growth. The market for curing agents has a wide application portfolio, and this makes it integral to get a holistic view of end-users and competitors. Hence, the report on the global curing agents market follows an inclusive approach to explain the various trends and opportunities.
Global Curing Agents Market: Trends and Opportunities
The global market for curing agents has been expanding on account of advancements in the several manufacturing industries. The manufacture of polyurethane and epoxy is preceded by the use of curing agents to develop layers and coatings. This factor has played a major role in
the growth of the global curing agents market. Furthermore, the presence of a stellar electronics and electrical industry has also created a plethora of opportunities for growth within the global curing agents market. It is expected that the need for improved adhesives would also create new opportunities for growth within the global curing agents market.
Global Curing Agents Market: Market Potential
The global curing agents market endows lucrative growth opportunities, and the market players are on their toes to fetch benefits out of these opportunities. The need for improved coatings in construction activities has generated a plethora of opportunities for growth within the global curing agents market. Moreover, the manufacture of silicone rubber also involves the use of curing agents, and this factor has also propelled market demand.
Global Curing Agents Market: Regional Outlook
On the basis of geography, the global curing agents market has been segmented into Europe, the Middle East and Africa, Asia Pacific, North America, and Latin America. The market for curing agents in North America is expected to expand as need for wind energy optimization gains momentum in the region.
Global Curing Agents Market: Competitive Landscape
Some of the key players in the global curing agents market are Hexion Inc. (US), Cardolite Corporation (US), Huntsman Corporation (US), and BASF (Germany).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.