New product launches, acquisitions, expansions, and agreements were the key strategies adopted by the market players to grow in the epoxy curing agents market between 2012 and 2017. The growth of the chemical industries in China and India is one of the major factors expected to drive the growth of the epoxy curing agents market in Asia-Pacific.
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Companies adopted strategies such as new product launches, expansions & investments, partnerships & agreements, and mergers & acquisitions to cater to the growing demand for epoxy curing agents across the globe, increase their market shares, and expand their distribution network. Key players such as Evonik Industries (Germany), BASF SE (Germany), Huntsman Corporation (U.S.), Hexion Inc. (U.S.), and Cardolite Corporation (U.S.) adopted these strategies to strengthen their position in the market.
Evonik Industries is one of the leading players in the global epoxy curing agents market. The company majorly adopted the strategy of acquisition to cater to the growing demand for epoxy curing agents. For instance, in January 2017, Evonik Industries acquired the specialty additive division of Air Products and Chemicals for USD 3.8 billion. This acquisition helped Evonik to increase its market share in the global epoxy curing agents market.
In April 2015, Cardolite introduced CNSL curing agent, NX-8101, for waterborne epoxies. This product is applicable for concrete primers and self-levelers applications. This launch helped the company strengthen its product portfolio.
Similarly, in October 2014, Air Products and Chemicals introduced Ancamine series 2903 and 2904 epoxy curing agents for the adhesives and composites markets at the Composites and Advanced Materials Expo 2014. These agents offer high-performance curing. This development strengthened the company’s product portfolio for the adhesives and composites industries. Such developments are expected to help the company to strengthen its position in the epoxy curing agents market.
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