경화제 시장 규모는 2024년에 57억 2,000만 달러로 평가되었고, 2024년부터 2031년까지 CAGR 7.03%로 성장하고, 2031년에는 98억 5,000만 달러에 달할 것으로 예측됩니다.
경화제 또는 촉매라고도 알려진 경화제는 중합 공정을 촉진하기 위해 수지 시스템에 첨가되는 화학 물질입니다. 경화제는 보통 가교결합을 갖는 화학 반응에 의해 액체 수지를 고체의 내구성 있는 물질로 전환시키는데 중요한 역할을 합니다.
일반적인 경화제로는 아민계, 무수물계, 이소시아네이트계 등이 있으며, 각각 용도에 따른 것이 선택됩니다.
경화제는 건설, 자동차, 항공우주, 일렉트로닉스 등 다양한 산업에서 널리 사용됩니다. 건설 분야에서는 에폭시 코팅 및 접착제 제조에 필수적이며 강력하고 내성있는 접착을 실현합니다.
자동차 제조에서 경화제는 경량 구조에 사용되는 복합재료의 내구성을 보장합니다.
또한 일렉트로닉스 산업에서는 회로 기판의 제조에 경화제를 사용하고 있으며, 신속한 경화가 효율과 성능에 필수적입니다.
복합재료 수요 증가: 복합재료에 대한 수요는 특히 항공우주 및 자동차 분야에서 증가하고 있습니다. 경화제는 이러한 하이테크 재료의 성능을 향상시키는 데 필수적입니다. 복합재료 세계 시장 규모는 2020년 740억 달러에서 2025년 1,128억 달러로 성장할 것으로 예측되며, 예측 기간 중 CAGR은 8.8%입니다.
건설 활동 증가: 세계 건설 활동 증가는 고성능 재료의 필요성을 증가시키고 있습니다. 경화제는 다양한 건설 응용 분야에서 내구성과 긴 수명을 보장하는 데 필수적입니다. 미국 인구조사국에 따르면 2023년 미국에서 실시된 건설액은 전년 대비 5.7% 증가한 1조8,000억 달러에 달했습니다. 이 성장 동향은 앞으로도 계속될 것으로 예상되며 경화제를 포함한 고성능 재료 수요를 촉진하고 있습니다.
지속가능성에 대한 규제지원 강화: 지속가능한 실천을 촉진하는 정부규제 증가는 경화제 시장에 영향을 미치고 있습니다. 제조업체는 이러한 기준을 충족하기 위해 낮은 VOC로 환경 친화적 인 대체품을 개발함으로써 대응합니다. 2019년에 시작되고 지속적으로 업데이트되는 유럽 연합의 녹색 거래는 2050년까지 유럽을 기후 중립으로 만드는 것을 목표로 하고 있습니다. 이로 인해 건축 및 제조에 사용되는 제품을 비롯한 다양한 제품의 VOC 배출량에 대한 규제가 엄격해지고 있습니다.
자동차 산업 확대: 자동차 산업은 특히 전기자동차의 상승에 따라 급성장하고 있습니다. 이 추세는 경량 부품 수요를 높이고 특수 경화제의 필요성을 더욱 높여줍니다. 국제에너지기구(IEA)에 따르면 세계 전기차 판매량은 2022년 1,000만대에 달하고, 2021년부터 55% 증가했습니다. 이 동향은 앞으로도 계속될 것으로 예상되고 2030년에는 신차 판매 대수의 60%를 전기자동차가 차지하게 될 것으로 예측되고 있습니다.
주요 과제
원재료 비용 상승: 원재료 비용 상승은 경화제 시장의 큰 저해 요인이 되었습니다. 제조업체는 제품의 품질을 확보하면서 수익성을 유지하는 문제에 직면하고 있습니다.
대체품과의 경쟁 격화: 대체 재료 및 대체 경화 솔루션의 가용성 증가는 기존 경화제에 위협이 됩니다. 이 경쟁은 기존 제품과 브랜드 시장 점유율을 제한할 수 있습니다.
환경 규제 증가: 환경 규제 강화는 특정 경화제의 개발을 방해할 수 있습니다. 컴플라이언스 요건의 엄격화는 제형 선택을 제한하고 제조 비용을 증가시킬 수 있습니다.
처방의 복잡화 : 효과적인 경화제의 처방의 복잡화는 제조업체에게 장벽이 될 수 있습니다. 규제 기준을 준수하면서 원하는 성능을 달성하려면 엄청난 R&D 투자가 필요합니다.
증가 시장 변동성: 화학 시장 변동성 증가는 경화제 공급망에 영향을 미칠 수 있습니다. 수요와 가격 변동은 생산자와 소비자 모두에게 불확실성을 초래할 수 있습니다.
주요 동향
친환경 솔루션 채택 증가: 친환경 경화제 채택이 증가하고 시장 상황을 형성하고 있습니다. 보다 친환경적인 제품을 요구하는 소비자 수요에 부응하기 위해, 제조업체는 지속 가능한 배합에 점점 힘을 쏟고 있습니다. 미국 화학공업협회(ACC)의 보고서에 따르면 미국의 바이오 화학제품 및 재료 시장 규모는 2022년에 1,260억 달러로, 2025년까지의 CAGR은 7.8%로 예측되고 있습니다.
첨단재료 이용 확대: 특히 자동차산업 및 항공우주산업에서 첨단재료의 사용확대가 경화제의 기술 혁신을 촉진하고 있습니다. 이러한 재료는 성능과 내구성을 높이기 위해 특수 경화 솔루션이 필요합니다. 미국 운송 통계국에 따르면 민간 항공기에서 복합재료의 사용은 2000년대 초반의 약 10%에서 2023년까지 일부 최신형 항공기에서는 50% 이상으로 증가합니다.
R&D에 대한 관심 증가: R&D에 대한 관심 증가는 경화제 기술의 획기적인 발전으로 이어지고 있습니다. 기업은 진화하는 산업의 요구를 충족시키는 고성능 제품을 창출하기 위해 연구 개발에 대한 투자를 늘리고 있습니다. 전미과학재단의 전미과학기술통계센터에 따르면 미국의 화학산업에서의 연구개발비는 2022년 전년 대비 5.2% 증가한 127억 달러에 달했습니다.
Curing Agents Market size was valued at USD 5.72 Billion in 2024 and is projected to reach USD 9.85 Billion by 2031, growing at a CAGR of 7.03% from 2024 to 2031.
Curing agents, also known as hardeners or catalysts, are chemical substances added to resin systems to facilitate the polymerization process. They play a crucial role in converting liquid resins into solid, durable materials through a chemical reaction, typically involving cross-linking.
Common curing agents include amines, anhydrides, and isocyanates, each selected based on the specific requirements of the application.
Curing agents are widely used in various industries, including construction, automotive, aerospace, and electronics. In the construction sector, they are essential for creating epoxy coatings and adhesives that provide strong, resistant bonds.
In automotive manufacturing, curing agents ensure the durability of composite materials used in lightweight structures.
Additionally, the electronics industry utilizes curing agents in the production of circuit boards, where rapid curing is vital for efficiency and performance.
The key market dynamics that are shaping the global curing agents market include:
Rising Demand for Composite Materials: The demand for composite materials is rising, particularly in aerospace and automotive sectors. Curing agents are crucial for enhancing the performance of these high-tech materials. The global composites market size was projected to grow from USD 74.0 Billion in 2020 to USD 112.8 Billion by 2025, at a CAGR of 8.8% during the forecast period.
Increasing Construction Activities: Increasing construction activities worldwide are driving the need for high-performance materials. Curing agents are essential for ensuring durability and longevity in various construction applications. According to the U.S. Census Bureau, the value of construction put in place in the United States reached USD 1.8 Trillion in 2023, a 5.7% increase from the previous year. This growth trend is expected to continue, fueling demand for high-performance materials including curing agents.
Rising Regulatory Support for Sustainability: Rising government regulations promoting sustainable practices are influencing the curing agents market. Manufacturers are responding by developing low-VOC and eco-friendly alternatives to meet these standards. The European Union's Green Deal, launched in 2019 and continually updated, aims to make Europe climate-neutral by 2050. This has led to stricter regulations on VOC emissions in various products, including those used in construction and manufacturing.
Growing Expansion in the Automotive Industry: The automotive industry is growing rapidly, especially with the rise of electric vehicles. This trend creates a higher demand for lightweight components, further boosting the need for specialized curing agents. According to the International Energy Agency (IEA), global electric car sales reached 10 million in 2022, a 55% increase from 2021. This trend is expected to continue, with projections suggesting EVs could account for up to 60% of new car sales by 2030.
Key Challenges
Rising Raw Material Costs: Rising costs of raw materials are a significant restraint on the curing agents market. Manufacturers face challenges in maintaining profitability while ensuring product quality.
Growing Competition from Alternatives: The growing availability of alternative materials and curing solutions poses a threat to traditional curing agents. This competition can limit market share for established products and brands.
Increasing Environmental Regulations: Increasing environmental regulations can hinder the development of certain curing agents. Stricter compliance requirements may restrict formulation options and increase production costs.
Rising Complexity in Formulation: The rising complexity in formulating effective curing agents can be a barrier for manufacturers. Achieving desired performance while adhering to regulatory standards requires significant research and development investment.
Growing Market Volatility: The growing volatility in the chemical market can affect supply chains for curing agents. Fluctuations in demand and pricing can create uncertainty for producers and consumers alike.
Key Trends
Rising Adoption of Eco-Friendly Solutions: The rising adoption of eco-friendly curing agents is shaping the market landscape. Manufacturers are increasingly focusing on sustainable formulations to meet consumer demand for greener products. According to a report by the American Chemistry Council (ACC), the market for bio-based chemicals and materials in the U.S. was valued at $126 billion in 2022 and was projected to grow at a CAGR of 7.8% through 2025.
Growing Use of Advanced Materials: The growing use of advanced materials, particularly in the automotive and aerospace industries, is driving innovation in curing agents. These materials require specialized curing solutions to enhance performance and durability. According to the U.S. Bureau of Transportation Statistics, the use of composite materials in commercial aircraft increased from about 10% in the early 2000s to over 50% in some modern aircraft models by 2023.
Increasing Focus on Research and Development: An increasing focus on research and development is leading to breakthroughs in curing agent technology. Companies are investing more in R&D to create high-performance products that meet evolving industry needs. According to the National Science Foundation's National Center for Science and Engineering Statistics, R&D spending in the U.S. chemical industry reached $12.7 billion in 2022, a 5.2% increase from the previous year.
Here is a more detailed regional analysis of the global curing agents market:
Asia Pacific
The Asia Pacific region is emerging as a dominant force in the global curing agents market, driven by rapid industrialization and expanding construction activities. Countries like China, India, and Japan are leading the charge, with their robust manufacturing sectors and increasing demand for epoxy resins in various applications. According to the China National Bureau of Statistics, the country's chemical industry output value reached 12.4 trillion yuan in 2021, highlighting the sector's significant growth and potential for curing agents.
The region's market dominance is further bolstered by the presence of key players and their strategic initiatives. Companies like Huntsman Corporation and Evonik Industries have been expanding their production capacities in Asia Pacific to meet the growing demand. In March 2023, Huntsman Corporation announced the completion of a new polyurethane systems house in Vietnam, strengthening its position in the Southeast Asian market and potentially impacting the curing agents segment.
North America
North America's curing agents market is experiencing rapid growth, driven by advancements in construction, automotive, and aerospace industries. The United States and Canada are at the forefront of this expansion, with their robust research and development initiatives fostering innovation in curing agent technologies. According to the U.S. Bureau of Economic Analysis, the chemical industry contributed USD 592 Billion to the U.S. GDP in 2022, underscoring the sector's significant role in the economy and its potential impact on the curing agents market.
The region's market growth is further propelled by increasing demand for high-performance coatings and composites. Key players like BASF SE and Hexion Inc. are capitalizing on this trend through strategic investments and product launches. In February 2024, BASF introduced a new line of waterborne curing agents for industrial coatings, addressing the growing need for sustainable solutions in North America and potentially reshaping the market landscape.
The Global Curing Agents Market is segmented based on Application, Type, And Geography.
Based on Application, the Global Curing Agents Market is bifurcated into Paints & Coatings, Electrical & Electronics, Wind Energy, Building & Construction, Composites, and Adhesives & Sealants. In the curing agents market, the paints and coatings segment currently dominates due to the widespread use of these materials across various industries for protective and aesthetic purposes. Meanwhile, the composites segment is rapidly growing, driven by increasing demand in sectors like aerospace, automotive, and wind energy, where lightweight and high-strength materials are essential. The focus on sustainable solutions and technological advancements further propels this growth.
Based on Type, the Global Curing Agents Market is bifurcated into Epoxy, Polyurethane, Rubber, and Acrylic. In the curing agents market, the epoxy segment is currently the dominant player, favored for its superior adhesion, chemical resistance, and versatility in applications across various industries. Meanwhile, the polyurethane segment is experiencing rapid growth, driven by its increasing use in applications such as adhesives, coatings, and foams, particularly in construction and automotive sectors. The demand for environmentally friendly and durable solutions is further fueling the expansion of polyurethane curing agents.
Based on Geography, the Global Curing Agents Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. In the curing agents market, North America currently holds the dominant position, driven by its well-established manufacturing base and high demand in industries such as automotive, aerospace, and construction. However, the Asia Pacific region is rapidly growing, spurred by industrialization, increasing construction activities, and rising demand for advanced materials in emerging economies like China and India. This growth is further supported by a shift towards sustainable and high-performance solutions across various applications in the region.
The "Global Curing Agents Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are BASF SE, The Dow Chemical Company, Merck KGaA, Huntsman Corporation, Lanxess AG, AkzoNobel N.V., Evonik Industries AG, Air Products and Chemicals, Celanese Corporation, Reichhold Chemicals, Momentive Performance Materials, Inc., Kuraray Co., JSR Corporation, Hexion, Inc., Eastman Chemical Company, Cytec Industries, Inc., Solvay SA, Mitsubishi Chemical Corporation, Saudi Basic Industries Corporation (SABIC).
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.