Brooklyn, New York, Aug. 24, 2023 (GLOBE NEWSWIRE) --
Market Report Overview:
The global Epoxy-Hardener Market report provides comprehensive insights into driving factors, restraints, opportunities, and trends, with the provision of in-depth supporting information, data, and statistics and actionable insights. According to Market Data Library’s analysis, the Epoxy-Hardener Market was US$ 3.72 billion in 2023. Furthermore, the Epoxy-Hardener Market to register a CAGR of 5.1% which is expected to result in a market forecast value for 2031 of US$ 5.82 billion. The Epoxy-Hardener Market is driven by the rising demand for sustainable eco-friendly epoxy resins having low volatile emission. The rise in the usage of smartphones and other electronic products in the market is likely to fuel epoxy-curing agent sales. Based on usage, the coating holds the majority of the market. Comprehensive analysis and insights into the global Epoxy-Hardener Market provide valuable information for businesses in the industry. Clarity and understanding of market trends help companies tailor their products to meet customer demands more effectively.
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Epoxy-Hardener Market share and revenues are provided in detail for previous years in order to showcase the evidence upon which our estimations and forecasts are based. Sensor market growth rates and differences, as well as comparisons and relatable data, are provided to further support all findings. Data points are provided for each year – from historical to end of forecast period – and this format is followed for each segment region and respective countries, as well as sub-segments and others.
Vital details of major companies in the market are provided in the company profile section of the report. Cover includes financials, recent developments, strategies, product launches, agreements, expansion, mergers & acquisitions, and others.
The global Epoxy-Hardener Market report is segmented according to type, power source, industry vertical, and regions and countries. Regional segmentation includes North America (United States and Canada); Europe (Germany, United Kingdom, France, Italy, Spain, Russia, Poland, BENELUX, NORDIC, and Rest of Europe); Asia Pacific (China, India, Japan, South Korea, ASEAN, Australia & New Zealand, & Rest of Asia Pacific); Latin America (Brazil, Mexico, Argentina, & Rest of Latin America); Middle East & Africa (Saudi Arabia, South Africa, United Arab Emirates, Egypt, Israel, and Rest of MEA).
Epoxy-Hardener Market Market Trend Analysis and Insights:
Rising Construction Activities across Countries: Increasing Capital expenditure on infrastructure projects to improve the quality of life coupled with rising population and urbanization are the key factors driving the market growth.
Growing Demand across Electronics and Semi-conductor industry: Epoxy resins serve as the key component of printed circuit board and packaging assembly of semiconductor market as they protect the circuit from external factors such as temperature, humidity and shock.
Utilization in the Energy Sector: Composite materials based on epoxy resin are used in manufacturing rotor blades for generating energy through wind-system. There has been a rise in the growth in the market of Epoxy-Hardener with the rising adoption of wing energy as a renewable and clean energy source.
Application in the Automobile Industry: Owing to its properties such as good mechanical strength, adhesion to metals and better thermal resistance, it helps in protecting the car-body work from corrosion and other hazards thus enhancing the life of an automobile. Also, increases in the investment and production rate of automobiles are also helping the market to flourish.
What Factors Are Restraining Growth of Epoxy- Hardener Market?
Toxicity issues: Epoxy-resins are highly reactive chemical compounds that can release harmful air pollutants and can cause severe health problems like asthma, dizziness, and headaches if not handled properly.
Availability of Substitute Materials: The presence of other alternatives such as silicone, polyurethane having similar characteristics and properties are increasing the market competition thus reducing the market size.
Curing time: Long curing time can adversely impact the production output of the epoxy-hardener system while short curing can reduce the application time. Keeping a balance between these parameters are important to meet the product quality and timelines.
Price Sensitivity: The market is very crowded with so many players offering multiple products. Costs considered among the consumers or companies could lead to reduction in the margins and eventually to price wars thus making it difficult to remain profitable while maintaining high quality.
Compatibility and Formulation Challenges: Developing a hardening system of superior quality across varied industries is very difficult to address considering the specific requirement and keeping the right balance such as curing time, adhesion power, portability, etc.
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What are the Opportunities for Leading Epoxy-Hardener Market Manufacturers?
- Sustainable Formulations: The rising awareness and demand of sustainable and eco-friendly products offer an opportunity for the development of epoxy-hardener system having low volatile emissions.
- Customization and Tailoring: Providing options for Customization can help the manufacturers to deliver services and products to cater the specific need of customers. This will create more demand for industries and opportunities for long-term agreements that need specific properties.
- Value Added Service: Providing training to customers, customer service, and application guidance can provide an edge over other competitors in the market. These measures will increase consumer trust and help in creating an identity and brand loyalty.
- Emerging Markets: Rising industrialization and construction in developing economies offers a lucrative market for the expansion of epoxy-resin system. The demand for these types of products will increase in the future as these countries will prosper.
- Innovative Applications: As technology improves, more novel uses of epoxy-hardened systems will emerge. For example, new technologies like smart coatings, self-healing materials can expand the usage and application of these products and increase the consumer base.
Region-wise Analysis of Epoxy-Hardener Market Market
What are the Factors Driving the Epoxy-Hardener Market Demand in North America Region?
The epoxy-hardener market in North America is increasing, due to the rising construction projects, growth in the automobile industries and large consumer base etc.
What Fuels Epoxy Hardener Market Demand in Europe?
It is projected to show substantially over the studied timeline ascribed to the demand for lightweight components in automobile and electronics and aviation industries. Also, the presence of key market players drives the market revenue.
What are the Factors Contributing to the Significant of Asia Pacific Epoxy Hardener Market?
It is hoped to hold the largest market share by the end of the period due to the rising construction activities, and urbanization across this geography especially in China as it has captured the half market of Printed circuit boards. Besides that, a smooth policy toward the use of epoxy-hardener systems is helping the market to grow.
What are the Aspects that are driving the Epoxy Hardener Market in Latin America?
The market is expected to witness considerable growth over the forecast period on account of the varied application of products in industries like paints, coatings, electronics and automobiles and the need for lighter-weight components.
What is the Stance on the Epoxy Hardener Market in the Middle East and Africa?
The region is expected to grow at a steady rate, driven by oil and gas industries, rising commercial projects etc.
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Leading Epoxy Hardener Market Manufacturers & Competitive Landscape:
The Epoxy Hardener market is highly competitive, with several key players vying for market share and actively engaging in strategic initiatives. These companies focus on product innovation, technological advancements, and expanding their product portfolios to gain a competitive edge. These companies are continuously investing in research and development activities to enhance their product offerings and cater to the evolving needs of customers in terms of efficiency, performance, and sustainability.
Company List
- Cardolite Corporation
- Evonik Industries
- Hunstman International LLC
- Olin Corporation
- KUKDO CHEMICAL CO
- Incorez Ltd
- Mitsubishi Chemical Corporation
Key Developments:
April 2023: A new type of epoxy resin monometer have been developed by the researchers at the University of Gothenburg made out of isosorbide and is found to be less allergic as compared to previous monometer which contains some residues of Bisphenol A and is more harmful.
Research Scope
| Report Metric | Report Details |
| Market size available for the years | 2021-2031 |
| Base Year | 2022 |
| Forecast Period | 2023-2031 |
| Compound Annual Growth Rate (CAGR) | 5.1% |
| Segment covered | Type, application, solvent form, end-user and regions. |
| Regions Covered | North America: The U.S. & Canada Latin America: Brazil, Mexico, Argentina, & Rest of Latin America Asia Pacific: China, India, Japan, Australia & New Zealand, ASEAN, & Rest of Asia Pacific Europe: Germany, The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe The Middle East & Africa: Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, and Rest of MEA |
| Fastest Growing Country in Europe | Germany |
| Largest Market | North America |
| Key Players | Cardolite Corporation, Evonik Industries, Hunstman International LLC, Olin Corporation, KUKDO CHEMICAL CO, Incorez Ltd, Mitsubishi Chemical Corporation |
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Market Segmentation:
By type
- Amines
- Polyamides
- Anhydrides
By Solvent form
- Solid
- Water-borne
- Solvent Based
By Application
- Paints and Coatings
- Adhesives
- Composites
- Encapsulation
By End-User
- Building and Construction
- Transpiration
- Wind Power
- Aerospace
- Marine
By Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Poland
- BENELUX.
- NORDIC
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- ASEAN
- Australia & New Zealand
- Rest of Asia Pacific
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Important Questions Answered in this Report:
Q: What are some key factors driving revenue growth of the global Epoxy Hardener Market?
A: Some key factors driving market revenue growth include rising infrastructure projects, growing demand in automobile and electronics sector.
Q: What are some major challenges faced by companies in the global Epoxy Hardener Market A: Companies face challenges such as long curing time, costs consideration, toxicity issues etc.
Q: How is the competitive landscape in the global Epoxy Hardener Market?
A: The market is competitive, with key players focusing on technological advancements, product innovation, and strategic partnerships. Factors such as product quality, reliability, after-sales services, and customization capabilities play a significant role in determining competitiveness.
Q: What are the potential opportunities for companies in the Epoxy Hardener Market?
A: Companies can leverage opportunities such as sustainable formulations, emerging markets, customization etc.
Q: How is the Global Epoxy Hardener Market segmented?
A: The market is segmented based on factors such as type, application, End-user, application and regions.
