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CHEMICALS AND ADVANCED MATERIALS

Epoxy Hardener Market Segmentation by Type (Polyamide, Aromatic Amine, and Others); by End-User (Coatings, Adhesives and Sealants, Electronics, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Epoxy Hardener Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • August 2020: Air Products announced the acquisition of General Electric Company gasification business without disclosing the financial terms.

Global Epoxy Hardener Market Highlights over 2022 – 2030

The global epoxy hardener market is estimated to grow at CAGR of ~7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing use of epoxy resin in the construction industry, and other end-users. Epoxy hardeners assist the curing process of epoxy resins, speeding up the process of drying, which is estimated to boost the market growth. The increasing usage of epoxy resin in various applications, such as, coatings, electronics, construction, adhesive, and others, is anticipated to primarily drive the market growth. In 2019, approximately 120 billion pounds of resin was produced globally, up from around 110 billion pounds in 2017, owing to their escalating use in construction industry. Moreover, hardeners provide compressive strength to the resin and are light weight, which is projected to increase its demand in the upcoming years.

Epoxy Hardener Market Graph

The market is segmented by type into polyamide, aromatic amine, and others, out of which, the aromatic amine segment is anticipated to hold the largest share in the global epoxy hardener market over the forecast period on account of higher heat distortion temperature. Moreover, the longer life and higher chemical resistance of aromatic amines is estimated to boost the segment growth. The market is segmented by end-user into coatings, adhesives and sealants, electronics, and others. Out of these, the coatings segment is anticipated to witness significant growth over the forecast period, owing to the increasing demand for paints and coatings in the construction sector.

Major Macro-Economic Indicators Impacting the Market Growth

chemicals Graph

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years. CLICK TO DOWNLOAD SAMPLE REPORT

Global Epoxy Hardener Market Regional Synopsis

On the basis of geographical analysis, the global epoxy hardener market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of increasing construction activities and growing use of epoxy hardener to fast-track the process. Moreover, adoption of epoxy resin to make handmade gifts and decorative items amongst individuals, backed by growing DIY trends is estimated to boost the market growth.

The market in the Asia Pacific is anticipated to garner notable market share during the forecast period on account of increasing manufacturing and construction activities in developing nations, such as, China and India.

Epoxy Hardener Market Graph

The global epoxy hardener market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global epoxy hardener market includes the following segments:

By Type

  • Polyamide
  • Aromatic Amine 
  • Others

By End-User

  • Coatings
  • Adhesives and Sealants
  • Electronics
  • Others

Growth Drivers

  • Increasing Penetration of Epoxy Resin in Construction Industry
  • Increasing Use for Coating and Sealing

Challenges

  • Halt in the Construction Activities

Top Featured Companies Dominating the Market

  • Cardolite Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Hexion Inc.
  • Olin Corporation
  • Huntsman International LLC
  • Evonik Industries AG
  • Mitsubishi Chemical Corporation
  • BASF SE
  • Kukdo Chemical Co., Ltd.
  • Aditya Birla Chemicals
  • Air Products Inc.

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