Epoxy is a compound consisting of two hydrogen atoms bonded together via an electrochemical reaction. When the hydrogen atoms are bonded together, they give rise to a clear solution containing a variety of hydroxyl groups and one or more esters. Epoxy resin is utilized in abrasive applications and other chemical bonding operations to create a protective layer against corrosion, temperature change, oxidation, and other conditions. A high-quality epoxy resin can withstand extreme temperatures and resist abrasive loads. It is used for floor coatings, ceiling and wall coverings, bonding to plastics and rubber components, sealing materials for aquariums, food packaging, medical applications, and many other applications. Its chemical and physical properties make it highly useful for bonding, vaporizing, hardening, and coating materials.
Growing demand for epoxy curing agents across various applications such as wind energy, coatings, electrical & electronics, adhesive, construction, and composite is fueling the market growth. Rise in the construction industry due to increasing investment in the construction industry across developing and the developed region is expected to augment the market growth of the epoxy curing agents. Moreover, the growing demand for consumer electronic products is again projected to foster the market growth of the epoxy curing agents. Furthermore, the growing demand for coatings, composites, and adhesives is also projected to propel the market growth of the epoxy curing agent.
The Asia Pacific is expected to exhibit significant growth over the forecast period and this is attributed to the high demand for consumer electronic products in the region. According to the India Brand Equity Foundation, the Indian appliance and consumer electronics (ACE) market reached Rs. 76,400 crore (US$ 10.93 billion) in 2019. Appliances and the consumer electronics industry is expected to double to reach Rs. 1.48 lakh crore (US$ 21.18 billion) by 2025.
Key Developments:
In March 2020, Gabriel Performance Products (“Gabriel”), a U.S.-based specialty chemicals company serving the coatings, adhesives, and composite markets, announces the launch of a new epoxy curing agent, VERSACURE® RAC 9040 and RAC 9010UV for clear coatings, tabletop and countertop applications.
In October 2018, Bitrez Ltd has launched the world’s first Ketamine epoxy curing agents to combat the withdrawal of conventional grades prohibited in Europe under REACH regulations. The new grades have been added to their already extensive Curamine cross-linking agents for the epoxy resin product range.
In April 2020, Hexion Inc. has launched both a new lower yellowing epoxy system for concrete protection and a unique amine curing agent to help coatings manufacturers meet lower indoor air emissions requirements while also reducing costs.
In October 2018, Bitrez Ltd has launched the world’s first Ketamine epoxy curing agents to combat the withdrawal of conventional grades prohibited in Europe under REACH regulations. The new grades have been added to their already extensive Curamine cross-linking agents for the epoxy resin product range.
In April 2020, Hexion Inc. has launched both a new lower yellowing epoxy system for concrete protection and a unique amine curing agent to help coatings manufacturers meet lower indoor air emissions requirements while also reducing costs.
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