Portland, OR, Sept. 15, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global epoxy curing agents market was pegged at $4.9 billion in 2020, and is expected to reach $8.4 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030.
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.
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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.
- 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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
