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Curing Agents Market Size

Report ID: GMI8178
Published Date: Feb 2024
Report Format: PDF

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Curing Agents Market Size

Curing Agents Market was valued at around USD 6.8 billion in 2023 and is anticipated to register a CAGR of over 5.2% between 2024 and 2032.

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Curing agents, commonly used in the production of coatings, adhesives, and composites, play a pivotal role in enhancing the durability and performance of these end-products. The escalating need for high-performance materials across industries such as automotive, aerospace, construction, and electronics propels the market forward. Epoxy curing agents, in particular, are in high demand due to their versatility and excellent adhesion properties. The global push towards sustainable and environmentally friendly solutions further influences the curing agent market, leading to the development of eco-friendly alternatives. Thus, the curing agents industry is expected to attain a market value of over USD 10.7 billion by 2032.

As industries continue to invest in research and development, innovations in curing agent formulations are likely to emerge, catering to specific application requirements. Asia-Pacific stands out as a key region for market expansion, with robust industrial activities and infrastructural developments.

Curing Agents Market Report Attributes
Report Attribute	Details
Base Year:	2023
Curing Agents Market Size in 2023:	USD 6.83 billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5.2%
2032 Value Projection:	USD 10.78 billion
Historical Data for:	2018 - 2023
No. of Pages:	300
Tables, Charts & Figures:	250
Segments covered:	Type, Functionality, Application
Growth Drivers:	Increasing demand for high-performance materials Growing infrastructure development in emerging economies Advancements in research and development
Pitfalls & Challenges:	Volatility in raw material prices Stringent environmental regulations

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As global awareness of environmental issues rises, regulatory bodies worldwide are imposing strict measures to curb the environmental impact of industrial processes and products. Curing agents, integral to various manufacturing sectors, face scrutiny due to their chemical compositions and potential environmental hazards. Compliance with regulations such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and other regional frameworks becomes imperative, adding complexity and cost to the production processes. Manufacturers are compelled to invest in research and development to formulate curing agents that meet the stringent criteria while maintaining performance standards. Additionally, the need to phase out or replace certain traditional curing agents, which may contain substances harmful to the environment, adds pressure to the industry.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for curing agents reached USD 6.8 billion in 2023 and is projected to expand at over 5.2% CAGR from 2024 to 2032 driven by increasing use in the production of coatings, adhesives, and composites for enhancing the durability and performance of these end-products.

Epoxy curing agents market size was USD 2.6 billion in 2023 and is anticipated to witness high demand through 2032 attributed to their excellent adhesion properties and resistance offered in industries, such as automotive, electronics, and construction.

Asia Pacific market size for curing agents was USD 2.3 billion in 2023 and is estimated to record substantial revenue by the end of 2032 owing to the robust growth in industrial activities, coupled with rapid infrastructure development across countries like China and India.

Some of the leading firms engaged in the curing agents industry are Alfa Chemicals, BASF SE, Cardolite Corporation, DIC Corporation, Evonik Industries, Hexion, Hunstman International LLC, Mitsubishi Chemical Corporation, Olin Corporation, Supreme Polytech Pvt. Ltd., and Westlake Epoxy.