The market size of curing agents is estimated to be USD 4.2 billion in 2018 and is projected to reach USD 5.9 billion by 2023, at a CAGR of 6.80%. The growth of its application such as coatings, electrical & electronics, composites, adhesives, construction, and wind energy is the key factor driving the curing agents market.
The major players operating in the curing agents market are Evonik Industries (Germany), Hexion Inc. (US), Huntsman Corporation (US), Cardolite Corporation (US), and BASF S.E. (Germany). The key growth strategies adopted by these companies include expansions, acquisitions, and new product developments.
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Founded in 2007, Evonik Industries is headquartered in Essen, Germany. The company is engaged in the business of specialty chemicals and generating power from hard coal and renewable energies. The company operates through major three business segments: nutrition & care, resource efficiency, and performance materials. The company has its presence in Germany, APAC North America, Central & South America, and Rest of Europe among other regions. In January 2107, Evonik Industries acquired the specialty additive division of Air Products and Chemicals (US) for USD 3.8 billion. This acquisition has helped Evonik increase its share in the global curing agents market.
Founded in 2006, Hexion is headquartered in Ohio, US. Hexion delivers its products and supports its customers through a diverse range of products, operating in more than 60 industrial facilities around the globe. The company operates its business through two segments: epoxy, phenolic, & coating resins and forest product resins. Hexion produces and supplies epoxy curing agents and advanced materials for diversified industries. The company offers its curing agents through its epoxy, phenolic, & coating resins business segment. In November 2015, Hexion expanded one of its waterborne epoxy resin production capacity in Tianjin, China. With the expansion, Hexion produces epoxy resins, curing agents, and modifiers locally.
Curing Agents Market by Type (Epoxy, Polyurethane, Silicone Rubber, and Others), Application (Coatings, Electrical & Electronics, Composites, Adhesives, Construction, Wind Energy, and Others), and Region - Global Forecast to 2023
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