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Epoxy Curing Agents Market to witness at 5.6% CAGR from 2021 to 2030 | Latest Trend and New Growth Opportunity
Epoxy Curing Agents Market
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Rise in demand for materials used in construction and transport industries and surge in need for efficient wind and solar power plants have boosted the growth of the global epoxy curing agents market. However, strict regulations and increase in environmental awareness among the consumers hinder the market growth. On the contrary, rapid increase in demand from data centers is expected to unlock lucrative opportunities for the market players in the future.
However, rise in demand for medical equipment such as incubation chambers and medical storage devices increased the demand for epoxy curing agents.
The report segments the global epoxy curing agents market on the basis of curing agent, application, end user, and region.
Based on curing agent, the amines segment held the lion's share in 2020, accounting for nearly half of the market. However, the anhydrides segment is expected to register the highest CAGR of 5.9% from 2021 to 2030.
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On the basis of application, the electronic encapsulation & others segment is projected to manifest the highest CAGR of 6.7% during the forecast period. However, the paints & coating segment dominated the market in terms of revenue in 2020, contributing to more than half of the market.
The global epoxy curing agents market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2020, contributing to around one-third of the market. In addition, the region is estimated to register the highest CAGR of 6.7% during the forecast period.
The global epoxy curing agents market report includes an in-depth analysis of the prime market players such as Bhor Chemicals and Plastics Private Limited, Cytec Solvay Group, Atul Ltd., Mitsubishi Chemical Corporation, Park Aerospace Corp., Reliance Composites Polymers, Barrday Inc., Hexcel Corporation, Huntsmann Corporation, and Evonik Industries AG.
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Covid-19 scenario:
The Covid-19 pandemic had a negative impact on the demand for epoxy curing agents due to halt in construction, industrial, and transportation sector and lack of laborers.
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