Research Nester assesses the growth of the global epoxy hardener market which is anticipated to be on account of the increasing construction activities across countries, and the growing adoption of advanced technologies in the electrical & electronics industry.
New York – March 22, 2023 - Research Nester’s recent market research analysis on “Epoxy Hardener Market: Global Demand Analysis & Opportunity Outlook 2035 ” delivers a detailed competitor’s analysis and a detailed overview of the global epoxy hardener market in terms of market segmentation by type, form, application, end user, and by region.
Growing Construction Activities Across Countries to Drive Growth of the Global Epoxy Hardener Market
The government's expanding infrastructure investments, rapid urbanization, rising housing prices, and higher living standards are the main drivers of building expansion, which is predicted to increase demand for epoxy hardeners in a variety of applications. For instance, the World Bank estimates that there were 4.4 billion urban dwellers worldwide in 2021, a rise of 2.3% from 2020. Furthermore, the development of the construction industry is being significantly fueled by robust economic growth and increased government spending on infrastructure development. Additionally, government investments in a range of public infrastructure initiatives, such as connectivity, housing, and smart city projects, are projected to boost the development of the construction sector.
Some of the major growth factors and challenges that are associated with the growth of the global epoxy hardener market are:
- Surging Utilization of Epoxy Hardener in Energy Sector
- Increased Utilization of Advanced Technologies in the Electronics Industry
One of the key elements predicted to restrain the expansion of the worldwide epoxy hardener market is the worry about the hazardous effects brought on by emissions of volatile organic compounds (VOCs). Epoxy resins and their hardeners are intricate chemical mixtures that, occasionally, can harm people if handled incorrectly. Epoxy hardeners based on amino acids emit volatile organic compounds (VOCs), which have the potential to be dangerous air pollutants. Many health problems, such as eye irritation, burns, nose or throat allergies, asthma, and occasionally skin cancer, can be brought on by them. Also, they may result in other adverse effects like headaches, vertigo, and confusion. Skin-to-skin contact is typically where issues start to occur. It may be a sensitizer, which may cause allergic contact dermatitis, or an irritant, which may cause toxic eczema. Among the hardeners, aliphatic polyamines can cause the most skin lesions, and it is anticipated to hamper the market’s growth. For instance, according to the data reported by the World Cancer Research Fund International, there were more than 150,000 new skin melanoma cases in 2020 across the globe.
By type, the global epoxy hardener market is segmented into polyamide, aromatic amine, amino amine, aliphatic amine, cycloaliphatic amine, and others. The cycloaliphatic amine segment is to garner the highest revenue of USD 4,635.3 Million by the end of 2035 by growing at a CAGR of 8.05% over the forecast period. Cycloaliphatic amine is among the most widely employed curing agents as their low viscosity makes them suitable for low-VOC coatings. They typically create coatings that cure quickly, have a limited pot life, and can be cured at low temperatures. In addition, they also offer excellent water and chemical resistance, as well as weatherability, low blush, and water spots. Additionally, the ring structure offers a little bit more structural "stretch" than aliphatic curing agents, improving impact resistance. Furthermore, the cycloaliphatic amine epoxy hardener market is expected to be fueled by rising demand for mortars, floor repair systems, sewage treatment plants, and commercial and industrial flooring applications throughout the forecast period.
By region, the Asia Pacific epoxy hardener market is to generate the highest revenue of USD 6431.1 Million by the end of 2035, increased from USD 2,673.7 Million in the year 2022. The growing urbanization and construction activity in Asian countries, notably in China is expected to drive the regional demand for epoxy hardeners, which in turn is expected to boost the growth of the market in the region. For instance, according to the National Bureau of Statistics of China, in 2021, the construction output in China was valued at approximately USD 4.2 trillion. China had 2.26 million construction enterprises by the end of 2021. The number of top-notch, first-class construction firms in China reached 16,000 in 2021, up 84.3 percent from 2012. Besides, according to the World Bank, China's urban population (% of the total population) was 63% in 2021, which experienced a growth of 2 percentage points compared to 2020. Less strict regulations also aid the demand for cheaper options of epoxy hardeners available in the market. Furthermore, China holds a majority of the share in the Asia Pacific epoxy hardeners market owing to the demand from the energy sector. Moreover, the energy control policy had a positive impact on the Chinese epoxy resin market as the policy pushed consumers to focus more on renewable energy sources.
This report also provides the existing competitive scenario of some of the key players of the global epoxy hardener market which includes company profiling of Cardolite Corporation, Evonik Industries AG, BASF SE, Mitsubishi Chemical Corporation, Huntsman International LLC, Hexion Inc., Olin Corporation, KUKDO CHEMICAL CO., LTD., Nouryon Chemicals Holding B.V., Incorez Ltd, and others.