A much-needed product to prevent adhesion of molding surfaces to substrates, Mold Release Agents are expecting a substantial growth globally during the forecast period (2017-2023), reveals Market Research Future (MRFR) in an extensive study. Electrostatically or pneumatically sprayed to maintain a uniform surface, these chemicals protect the mold from getting corroded by the impacts of components such as rubbers, wood, plaster, concrete and certain modeling clays.
Drivers and Restraints:
Mold Release Agents work significantly well in reducing the waste produced. At the same time, by quickening the Mold Release process, it allows a smoother operation. As an added advantage, it helps in reducing porosity. Water-based Mold Release Agents go a step further by assisting in the thermal management and letting the mold cool down.
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Various end-user industries are also creating a pressing demand for the Mold Release Agents such as food processing, automotive, and crude oil production. Rising number of people with disposable income can be considered leverage that these industries are considering while expanding their production.
However, government’s effort to prevent industries from using toxic organic chemicals during the production has given birth to various stringent regulations which may cause impediments. The easy availability of alternative non-stick coatings is also posing challenges for the market as it provides a better surface finish and reduces the problem of porosity. In addition, fluctuating raw material prices is stirring doubts regarding profitability margin among the manufacturers and distributors.
The market has been peppered with various innovations and developments. For instance, Chem-Trend’s water-based release agent Hera increases processing rates, extends tooling life, and improves post cast processing. On the other hand, PM-J5525W enables rapid removal of the residue which in a way is accelerating the production process.
McLube also launched McLube-414 adds a durable, non-transferring coat on the product that is non-oily, non-dusting, and chemically inert.
The Global Mold Release Agent Market can be segmented by Type and Application.
Type-wise segmentation of the market includes solvent-based and water-based. Water-based Mold Release Agents are currently leading the market owing to its compliance with VOC emission and eco-friendliness.
Application-based segmentation comprises concrete, rubber, plastics, food processing, paper, and others. Use in die casting for building & construction has given rise to the concrete sub-segment.
The Global Mold Release Agent Market consists five regions namely Asia Pacific (APAC), Europe, Latin America (LATAM), North America, and the Middle East & Africa (MEA).
The APAC is expecting the maximum CAGR during the review period as the region is experiencing a growth in the rubber industry. Countries such as India, China, Japan, and Thailand are set to have extensive Mold Release Agents Market due to pressing demands from rubber producers. In addition, the region is replete with raw materials for the rubber industry which is also spurring the market growth.
North America can also exhibit a stellar growth as the region has all the markers to become the superior market for the mold release agents such as high consumption potential, rising production capacities backed by a robust industry and a rising economic growth rate. In the U.S., the burgeoning furniture industry is expected to boost the market further.
Europe’s market is depending on the booming markets of the U.K., Germany, Italy, Spain, France, and Russia. However, Germany has the key, as the country with its strong automotive sector, can become a decisive factor.
The LATAM is all set to experience an astonishing growth due to persistent demand generated by the flourishing automotive sector.
Going hand-in-hand with the trend of harvesting sustainable products, the industry is setting up facilities with an aim to reduce carbon footprint. In this aspect, Chem-Trend L.P. is erecting milestones. Mergers and acquisitions are also proving vital for the competitive mold release agents market where companies are trying to expand their portfolio to have a firm grip over the market. For instance, Croda International Plc acquired Nautilus Biosciences recently to increase their reach.
Some of the major players operating in the Global Mold Release Agent Market are Marbocote Ltd (U.K), Michelman, Inc. (U.S.), Henkel AG & Co. KGaA (Germany), Grignard Company, LLC (U.S.), Wacker Chemie AG (Germany), Daikin Industries, Ltd. (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), REXCO (U.S.), Mcgee Industries Inc (U.S.), Croda International PLC (U.K), Cresset Chemical Company (U.S.), Chem-Trend L.P. (U.S.), CHUKYO Europe GmbH (Germany), and others.
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