Middle East and Africa Epoxy Curing Agents Market – Industry Trends and Forecast to 2030

Middle East and Africa Epoxy Curing Agents Market, By  Type (Amine, Imidazoles Polymides, Anhydrides, Curing Agents, Diluents, Polyimides, Accelerators, Adhesion Promoters, Specialty Resins, Phenolic, Additives and Others), Product (CycloAliphatic Amines, Aliphatic Amines, Polysulfide, High Temperature Curing Agents, Water Borne Curing Agents, Low Emission Curing Agents, Amido Amines, Mercaptans, Phenalkamide, Polyamido-Amines, Phenalkamine, Low Temperature Curing Agents, Metaphenylene Diamine, Methylene Dianiline, Latent Curing Agents and Others), End User (Automotive and Transportation, Aerospace, Building and Construction, Power Generation, Electrical, Electronics, General Industrial, Marine, Oil and Gas, and Others), Applications (Adhesives and Sealants, Paint, Coatings and Inks, Electronic Encapsulation, Composites, Others) - Industry Trends and Forecast to 2023 to 2030.

Middle East and Africa Epoxy Curing Agents Market Analysis and Size

Some essential factors contributing to the growth of epoxy curing agents market in the forecast period of 2023 to 2030 include wide range of applications in various industries such as industrial coatings, aerospace, power generation, civil engineering & construction, automotive, adhesives, composites and others. Different types of curing agents such as aliphatic, cycloaliphatic, amido-amine, and others have different molecular structure, basicity, and belongs to different functional groups, due to all these properties epoxy curing agents are able to control the curing reactions and also control the properties of thermosets. The growing new technologies, increased production and use of epoxy curing agents is propelling the market’s growth in the Middle East and African region.

Data Bridge Market Research analyses that the epoxy curing agents market which was USD 1,37,343.83 thousand in 2022, is expected to reach USD 2,00,000.43 thousand by 2030, growing at a CAGR of 4.81% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Middle East and Africa Epoxy Curing Agents Market Scope and Segmentation

Market Definition

Epoxy curing agents are referred as a material taking part in a chemical reaction between the polymer, oligomer and pre-polymer for the polymerization process and for the production of final film. These cured resin are superior in potential and can tolerate heat of 100°C. Aromatic amines have much more strength to tolerate heat and chemical tolerance than aliphatic amines. Epoxy resins are used in various industries as they possesses a number of beneficial qualities, such as in plastics, paints and coatings, construction, composites and others. The growing use of epoxy curing agents in the various end use industries is increasing the demand of epoxy curing agents, which is significantly boosting the market’s growth in the forecast period of 2023 to 2030.

Middle East and Africa Epoxy Curing Agents Market Dynamics

Drivers

• Start-up to increase demand globally

The start-ups in the epoxy curing agents market are creating significant opportunities for epoxy curing agents market. Various extraordinary properties of epoxy curing agents are curating a number of innovations for the market’s growth. Emerging start-ups are upgrading the curing agents with new technology and curating innovative and improved types of agents possessing better bonding and adhesiveness. These innovations by several start-ups are gaining attention by major end-use industries. Start-up firms are significantly expanding the market with their unique attempts for improving the innovations. Therefore, all these new advancements and innovations done by start-ups is a major growth driver for the market’s growth. 

• Rising use in automotive industries

Epoxy curing agents are widely used in automotive industry to cure epoxy resins by promoting the self-polymerization of the epoxy group by the catalytic action. The increasing demand for adhesives and coatings for adhesion and bonding in the automotive industry is significantly contributing in the market’s growth during the forecast period of 2023 to 2030.  

Opportunities

• Growing use in paint and coating industry

The increased demand for high-performance resins is obtained by blending polymers, majorly in the paint & coatings industry would propel the growth of the market. Various significant qualities of epoxy curing agents such as good adhesion properties, colour consistency and viscosity are the major characteristics curating a number of opportunities for the market’s growth in the Middle East and African region during the forecast period of 2023 to 2030.

• Increasing demand in electronics sector

There is an increasing demand of epoxy curing agents in the field of electrical and electronic components for manufacturing various essential items. It possesses significant qualities such as long pot life, slow curing reaction and slow shrinkage rate, due to which it is mostly preferred in electronics sector. Along with this they provides manufacturing yield improvement, miniaturization, environmental safety, health safety demands, and conservation of energy.  Thus, there is an increased demand of epoxy curing Agents in the electronics sector which is significantly fuelling the market’s growth.

Restraints/Challenges

• Serious effects of chemicals used in manufacturing

During the manufacturing of epoxy curing agents several harmful chemicals and gases are used which are hazardous to health when inhaled. Resins and epoxy curing agents are composed of several volatile organic compounds (VOCs). Volatile organic compounds give epoxy curing agents its odor and the ability to give off fumes. Some major problems caused during its manufacturing are irritation of the eyes, nose, throat, and skin, skin allergies, and asthma. Thus, these harmful effects are major restraints for the market’s growth.

• Strict rules for manufacturing

Strict environmental rules and regulations for the usage and manufacturing of epoxy curing agents is a major challenge to hinder the growth of epoxy curing agents market in the Middle East and African region during the forecast period of 2023 to 2030. Epoxy curing agents constitutes various dangerous chemicals and gases, thus there are rules and limitations for their manufacturing and use and significantly restraining the market’s growth.

This epoxy curing agents market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the epoxy curing agents market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In July 2020, Arkema announced the acquisition of Fixatti (specialized in high-performance thermos-bonding adhesive powders). This acquisition of Fixatti will significantly strengthen industrial applications of Arkema in the construction, technical coating, battery, automotive, and textile printing markets and will boost the revenue of the company which will contribute in the market’s growth.
• In May 2021, PPG, announced the completion of US$ 13 million investment in its Jiading, China paint and coatings facility including eight new powder coating production lines and an expanded Powder Coatings Technology Center. This expansion will increase the plant’s capacity by more than 8,000 metric ton per year. This launch of new production lines and increased manufacturing will significantly contribute for the market’s growth.
• In February 2022, Westlake Chemical Corporation announced the acquisition of Hexion Inc.’s global epoxy business for around USD 1.2 billion in an all-cash transaction. This acquisition will open major opportunities as the production would increase which would contribute in the market’s growth.
• In June 2021, Aditya Birla Group, advanced materials business announced the investment for increasing business capacity by 125 KTPA through a brownfield expansion in India. It will include standard & specialty epoxy products along with curing agents. This huge investment will further boost the market’s growth.

Middle East and Africa Epoxy Curing Agents Market Scope

The epoxy curing agents market is segmented on the basis of type, product, end user and applications. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Amine
• Imidazole Polymides
• Anhydrides
• Curing Agents
• Diluents
• Polymides
• Accelerators
• Adhesion Promoters
• Specialty Resins
• Phenolic
• Additives
• Others

Product

• Cycloaliphatic Amines
• Aliphatic Amines
• Polysulfide
• High Temperature Curing Agents
• Water Borne Curing Agents
• Low Emission Curing Agents
• Amido Amines
• Mercaptans
• Phenalkamide
• Polyamido-Amines
• Phenalkamine
• Low Temperature Curing Agents
• Metaphenylene Diamine
• Methylene Di-aniline
• Latent Curing Agents
• Others

End User

• Automotive and Transportation
• Aerospace
• Building and Construction
• Power Generation
• Electrical
• Electronics
• General Industrial
• Marine
• Oil and Gas
• Others

Applications

• Adhesives
• Sealants
• Paint, Coatings and Inks
• Electronic Encapsulation
• Composites
• Others

Middle East and Africa Epoxy Curing Agents Market Regional Analysis/Insights

The epoxy curing agents market is analysed and market size insights and trends are provided by type, product, end user and applications as referenced above.

The countries covered in the epoxy curing agents market report are Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).  

In Middle East and Africa, Saudi Arabia dominates the epoxy curing agents market due to high availability of plastic raw material in the region. There is increasing demand of the paints and coatings to improve the overall texture of the products in the region. Various big commercial projects are in the pipeline, which will significantly help to sustain increasing growth rates. Along with this the growth of the construction industry in the region has boosted the demand for epoxy resins in the Saudi Arabia, which is significantly propelling the market’s growth.  

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Middle East and Africa Epoxy Curing Agents Market Share Analysis

The epoxy curing agents market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to epoxy curing agents market.

Some of the major players operating in the epoxy curing agents market are:

• KUKDO Chemical CO., Ltd. (South Korea)
• Hexion (U.S.)
• Arkema (France)
• Bostik (France)
• Dow (U.S.)
• Toray Industries, Inc. (Japan)
• Mitsubishi Chemical Corporation (Japan)
• BASF SE (Germany)
• Saint-Gobain Weber (France)
• Evonik Industries AG (Germany)
• Huntsman International LLC (U.S.)
• Olin Corporation (U.S.)
• Aditya Birla Chemicals Pvt. Ltd (India)
• THREEBOND INTERNATIONAL, INC (U.S.)
• EMIS (China)
• Cargill Incorporated (U.S.)
• Bitrez (U.K.)
• Atul Ltd (India)
• Reichhold LLC 2  (U.S.)
• Changzhou Utek Composite Co., Ltd. (China)