The global epoxy curing agents market is growing at a significant pace with the increasing usage of these agents across various industries such as coatings, construction, adhesives, composites, electrical & electronics, and others applications. To sustain and maintain strong growth in the future, companies are investing on research & development to come up with high quality, eco-friendly, and cost-effective epoxy curing agents.
The Asia-Pacific region is experiencing an increased demand for luxury and better-quality products due to emerging middle class consumers. It accounted for the largest share of 46.2% in 2014 and is projected to grow at a CAGR 8.2% from 2015 to 2020, in terms of value. China is the largest country in the consumption of epoxy curing agents due to the increased demand from end-user industries such as coatings, wind energy, electrical & electronics, construction, adhesives, composites, and others applications.
Key players operating in this market include Air Products and Chemical Inc. (U.S.), Hexion Inc. (U.S.), Cardolite Corporation (U.S.), Dow Chemical Company (U.S.), Huntsman Corporation (U.S.), BASF S.E. (Germany), Evonik Industries (Germany), Kukdo Chemicals (South Korea), Atul Ltd (India), and others. These companies are constantly increasing their product portfolio of epoxy curing agents by launching new products for different application industries, in order to strengthen their presence in the global epoxy curing agents market.
Enhanced demand across globe is projecting high growth in various market and several companies are expanding their product portfolio, in such regions. For instance, in 2012, Huntsman Corporation launched its new highly reactive epoxy curing agent XTA-801 for applications such as coatings, electrical & electronics, adhesives and composites, to cater to the upcoming demand from end-users. The market players are adopting strategies such as regional expansions, joint ventures, and new product developments to expand their overall business worldwide. The main companies operating in these markets are engaged in introducing innovative products as well as enhancing their penetration in the emerging markets. They are constantly taking efforts to strengthen material research & development (R&D) to provide cost-effective and Eco-friendly products. These products are manufactured adhering to the regulations set by environmental organizations and governments.
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