Epoxy Curing Agents Trends, Demand, Covid-19 scenario
Rise in demand for materials used in construction and transport industries and surge in need for efficient wind and solar power plants have boosted the growth of the global epoxy curing agents market. However, strict regulations and increase in environmental awareness among the consumers hinder the market growth. On the contrary, rapid increase in demand from data centers is expected to unlock lucrative opportunities for the market players in the future.
As per the report published by Allied Market Research, the global epoxy curing agents market was pegged at $4.9 billion in 2020, and is expected to reach $8.4 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030.
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Covid-19 scenario:
The Covid-19 pandemic had a negative impact on the demand for epoxy curing agents due to halt in construction, industrial, and transportation sector and lack of laborers.
However, rise in demand for medical equipment such as incubation chambers and medical storage devices increased the demand for epoxy curing agents.
The report segments the global epoxy curing agents market on the basis of curing agent, application, end user, and region.
Based on curing agent, the amines segment held the lion’s share in 2020, accounting for nearly half of the market. However, the anhydrides segment is expected to register the highest CAGR of 5.9% from 2021 to 2030.
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