Epoxy Curing Agents Market size demand is driven by growing applications in paint and coatings industry. Superior bonding property, higher mechanical strength and corrosion resistance are the factors which are increasing product consumption.
Increasing demand from high performance resins obtained by mixture of polymer along with product in applications such as composites, electrical and electronics, adhesive, construction, paint and coatings industry will drive the epoxy curing agents market growth.Based on application, the coatings segment is projected to lead the epoxy curing agents market during the forecast period. The epoxy curing agents market was valued at about US$ 3,600 Mn in 2017 and is projected to expand at a CAGR of 6.5% during the forecast period.
Coating was the largest application segment of the epoxy curing agents market in 2016. Epoxy curing agents are used in marine, can & coil, decorative, protective, and general industrial coatings. Epoxy curing agents are used in primers to enhance the adhesion quality of coated part in marine and other applications, especially on metal surfaces where corrosion & chemical resistance is important to protect the surfaces from damage or wear.
Curing agents play a vital role in determining the properties of the final cured product. The properties of amine-based curing agents include chemical and thermal resistance and weatherability. The major applications of amine-based curing agents include coatings, adhesives, composites, and electrical & electronics, among others. Polyamides resin, widely used as a curing agents for epoxy resins, is formed by the condensation reaction between dimer acid and polyamine and contains reactive primary and secondary amines in its molecules. As polyamides have high hydrocarbon moiety in their molecules, they cure epoxy resins into highly plasticized rigid thermosetting polymers.
Rising industrial development in China is among the factor for industry growth in the region. Increasing production capacities of existing manufacturing plants and product innovation are the strategies for capturing the industry share. Growing income and increasing number of end use product manufacturers in the countries such as South Korea, Malaysia and Indonesia will further drive the regional epoxy curing agents market size.
Some of the prominent key players are BASF, Hexicon Inc., Evonik Industries, Incorez Ltd., Momentive specialty chemicals, Huntsman Corporation and DOW Chemical Company. Other prominent players include Gabriel Performance products, Mitsubishi Chemicals, Cardolite Corporation. Brenteg specialties Inc, Aditya Birla Chemicals and DIC corporation