Curing Agent Market Size (2024 - 2029)

The Curing Agent Market is projected to experience growth over the forecast period, driven by increasing demand from the paints and coatings and building and construction industries. Despite challenges posed by stringent environmental regulations aimed at reducing VOC emissions, the market is expected to expand, particularly with the development of eco-friendly alternatives. The Asia-Pacific region leads in market consumption, with significant contributions from countries such as China, India, and Japan. The market has rebounded from the setbacks caused by the COVID-19 pandemic and is anticipated to continue its upward trajectory.

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Market Size of Curing Agent Industry

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Curing Agent Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 7.17 Billion
Market Size (2029) USD 9.23 Billion
CAGR (2024 - 2029) 5.16 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Curing Agent Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Curing Agent Market Analysis

The Curing Agent Market size is estimated at USD 7.17 billion in 2024, and is expected to reach USD 9.23 billion by 2029, growing at a CAGR of 5.16% during the forecast period (2024-2029).

The curing agent market was negatively impacted by the COVID-19 pandemic as there was a slowdown in production and mobility wherein industries, such as paints and coatings, building and construction, etc., were forced to delay their production due to containment measures and economic disruptions. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.

The increasing demand from the paints and coatings and building and construction industries is expected to fuel market growth.

However, stringent environmental regulations associated with curing agents to reduce volatile organic compounds (VOC) emissions are anticipated to hamper market expansion.

The development of environmentally friendly low or non-VOC agents is expected to provide opportunities for the market to flourish.

The Asia-Pacific region dominated the market around the world, with countries like China, India, and Japan being the biggest consumers.

Curing Agent Industry Segmentation

A curing agent is a substance that is used to harden a surface or material, which is applied to polymer surfaces to facilitate the bonding of the molecular components of the material. Curing agents are used in several applications, such as the hardening of material, or they act as initiator agents to only begin the necessary hardening reactions. Curing agents are significantly used in the paints and coatings industry, the construction sector, etc.

The curing agent market is segmented by type, application, and geography. By type, the market is segmented into epoxy, polyurethane, rubber, acrylic, and other types (silicone, etc.). By application, the market is segmented into building and construction, composites, paints and coatings, adhesives and sealants, electrical and electronics, and other applications (wind energy, etc.). The report also covers the market size and forecasts for the market in 15 countries across the globe. 

For each segment, the market sizing and forecasts have been done on the basis of value (USD).

Type
Epoxy
Polyurethane
Rubber
Acrylic
Other Types (Silicone, etc.)
By Application
Building and Construction
Composites
Paints and Coatings
Adhesives and Sealants
Electrical and Electronics
Other Applications (Wind Energy, etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Curing Agent Market Size Summary

The curing agent market is poised for steady growth, recovering from the setbacks caused by the COVID-19 pandemic, which had led to production slowdowns in key industries such as paints and coatings, and building and construction. The market has rebounded to pre-pandemic levels and is expected to continue expanding, driven by increasing demand from these sectors. However, the growth trajectory may be challenged by stringent environmental regulations aimed at reducing volatile organic compound emissions. Despite these challenges, the development of environmentally friendly low or non-VOC curing agents presents significant opportunities for market expansion. The Asia-Pacific region, particularly countries like China, India, and Japan, dominates the global market, fueled by robust industrial activities and a burgeoning construction sector.

Epoxy curing agents are anticipated to hold a significant share of the market due to their versatile applications, especially in the construction industry, where they are used for their environmental resistance and strength. These agents are integral in producing lightweight composites and are extensively used in concrete protection and waterproofing applications. The Asia-Pacific region's construction industry, the largest globally, is a major driver of demand for curing agents, with significant contributions from China and India. The region's expanding paints and coatings industry further bolsters market growth, attracting investments from leading global manufacturers. The market's partially fragmented nature sees major players like BASF SE, Hexion, and Mitsubishi Chemical Corporation actively participating, with recent developments indicating a focus on meeting the growing demand for epoxy resins and curing agents.

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Curing Agent Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Paints and Coatings Industry

      2. 1.1.2 Growing Demand for Epoxy Curing Agents in Building and Construction Industry

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Stringent Environmental Regulations

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Epoxy

      2. 2.1.2 Polyurethane

      3. 2.1.3 Rubber

      4. 2.1.4 Acrylic

      5. 2.1.5 Other Types (Silicone, etc.)

    2. 2.2 By Application

      1. 2.2.1 Building and Construction

      2. 2.2.2 Composites

      3. 2.2.3 Paints and Coatings

      4. 2.2.4 Adhesives and Sealants

      5. 2.2.5 Electrical and Electronics

      6. 2.2.6 Other Applications (Wind Energy, etc.)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East and Africa

Curing Agent Market Size FAQs

The Curing Agent Market size is expected to reach USD 7.17 billion in 2024 and grow at a CAGR of 5.16% to reach USD 9.23 billion by 2029.

In 2024, the Curing Agent Market size is expected to reach USD 7.17 billion.

Curing Agent Market Report Snapshots

Curing Agent Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)