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Mold Release Coatings Market - Forecast(2023 - 2028)
Mold Release Coatings Market Overview
Mold Release Coatings Market size is forecast to reach US$350.4 million by 2026, after growing at a CAGR of 4.5% during 2021-2026. Globally, the increasing usage of mold release coatings owing to their properties in various applications such as die casting, food processing equipment, wood composite, plastic processing, and others, has raised the growth of the market. Furthermore, the rising demand for low VOC solvent-based mold release coatings is estimated to drive market growth. Rising capital spending in construction activities and the setting up of large-scale infrastructure projects in various countries are driving the demand for mold release coatings. In addition, major investments in the industrial sector are expected to create opportunities for the growth of the mold release coatings industry over the forecast period.
Impact of Covid-19
Halt in several ongoing construction projects further affected the overall growth of the mold release coatings industry over the forecast period. Major public and private sector industrial sector projects were also paused due to the sudden emergence of the COVID-19 outbreak in the year 2020. Considering the current normal situation it is anticipated that with the restart of several construction activities the market for mold release coatings would further rise over the forecast period.
Mold Release Coatings Market Report Coverage
The report “Mold Release Coatings Market– Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the mold release coatings market.
By Type: Semi-permanent
and Sacrificial.
By Formulation: Water
Based and Solvent Based.
By Application: Die
Casting, Plastic Molding, Composite Molding, Rubber Molding, Polyurethane
Molding, Food Processing Equipment, Wood Composites, Concrete, and Others.
By End Use Industry: Building and Construction, Food and Beverage, Transportation, and
Others.
By Geography: North America
(USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain,
Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan,
India, South Korea, Australia and New Zealand, Taiwan, Indonesia, Malaysia, and
Rest of Asia Pacific),South America (Brazil, Argentina, Colombia, Chile, and
Rest of South America), and RoW (Middle East and Africa).
Key Takeaways
- Asia-Pacific region dominated the mold release coatings market owing to the rising building and construction, automotive, and other end-use industries.
- Increasing demand and adoption for water-based mold release coatings in concrete mold owing to its non-flammable and environmentally friendly properties is estimated to raise the demand for mold release coatings in the forecast period.
- Growing investment in the building and construction industry in emerging nations has created a large demand for precast concrete blocks, which is predicted to continue to expand in the near future, propelling the demand for mold release coatings.
- Factors such as high production cost and rising demand for non-stick coatings are, however, expected to pose a significant challenge for the growth of the mold release coatings market.
Figure: Asia Pacific Mold Release Coatings Market Revenue, 2020-2026 (US$ Million)
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Mold Release Coatings Market Segment Analysis –By Type
The semi-permanent segment held the largest share in the mold release coatings market in the year 2020. Mold release agents that are semi-permanent allow for several releases before reapplication. Semi-permanent mold release agents are designed to prevent mold build-up and contaminating transfer, hence extending the durability of the mold release coatings. Also, the increasing usage of semi-permanent mold release agents can also improve the cosmetic finish on many composite parts. Since semi-permanent mold release coating is exceptionally thin, durable, transparent, and abrasion-resistant. Thus, it forms a semi-permanent barrier on the mold surface, allowing for exceptional rubber or plastic component release. Thus, the rising demand for semi-permanent mold release coatings is estimated to drive the growth of the market over the forecast period.
Mold Release Coatings Market Segment Analysis –By Application
Concrete segment held the largest share in the mold release coatings market in the year 2020. Mold release coatings are used in concrete molds to lessen the adherence of freshly deposited concrete, resulting in fewer broken blocks and reduced concrete waste, as well as increased efficiency and cheaper production costs. Increasing usage of mold release coatings to keep freshly lay concrete away from sticking to a forming surface, such as plywood, steel, or aluminum is estimated to drive the market growth. Reactive release agents react with the concrete to create soapy films that hinder adhesion to the mold, whereas barrier release agents build a physical barrier between the mold and the concrete. Since water-based formulations are now being used for environmental benefits as the industry strives toward greener technologies. Thus, it is anticipated that the rising demand for water-based mold release coatings in concrete mold would further drive the market growth.
Mold Release Coatings Market Segment Analysis –By End Use Industry
Building and construction segment has dominated the market for the mold release coatings market in 2020 and is growing at a CAGR of 5.9% during 2021-2026. Mold Release
Coatings are materials that regulate heat transfer, generally in buildings or
multi-wheelers, through windows or any other openings. They boost summer
cooling efficiency and winter heating efficiency in buildings and vehicles,
thus saving energy and reducing greenhouse gas emissions. This results in lower
energy bills for longer periods and regulated temperature management. Increasing investment in infrastructure and construction in emerging
economies has an enormous demand for prefabricated concrete blocks and is
expected to increase further in the near future, which in turn is also expected
to raise the demand for mold release coatings. Mold release coatings are used in the building and construction industry to create, precast concrete mold that can be
used in various construction activities, such as bridges, roads, houses,
footpaths, and various other structures. Thus, the above factors are likely to
increase the demand for mold release coatings in the forecast period.
Mold Release Coatings Market Segment Analysis – By Geography
Asia Pacific region dominated the mold release coatings market with 47.7% in the year 2020. In the Asia Pacific region, China is the largest car producer. The automotive sector of the country has influenced product growth, with the country concentrating on exporting goods, ensuring fuel efficiency, and minimizing emissions (owing to growing environmental concerns due to mounting pollution in the country). Moreover, due to the help of the 'Made in China 2025' initiative to upgrade the current low-cost mass production to higher value-added advanced manufacturing, production was hit 30 million units in 2020. Additionally, the design and construction is another main end-user field in the country for mold release coatings. Despite attempts to rebalance its economy to a more service-oriented base, China has major construction plans underway, including providing for the migration of 250 million people to its megacities in the next ten years. For instance, in April 2019, the Chinese government spent about US$ 72 billion on construction in the region. Thus, with the rising growth of the end-use industries, the market for mold release coatings is also anticipated to rise over the forecast period.
Mold Release Coatings Market Drivers
Rapidly Developing Industrial Sector In Emerging Economies
Rapid industrialization is expected to drive the global mold release coatings market in emerging economies such as India, Indonesia, Brazil, and Mexico. Owing to their exponential economic growth in recent years, the demand for mold release coatings in these emerging countries is gradually rising. With the rapidly developing industrial sector in various manufacturing sectors, the mold release coatings are anticipated to see rapid growth in the upcoming years. Also, the expansion of several industries such as automobile, packaging, chemicals, building & construction, textiles, consumer goods, and pharmaceutical industries have substantially expanded the market growth. The existence of government policies that encourage the growth of these sectors, lower labor costs, skilled workforce, availability of raw materials, and increased urbanization have allowed domestic and foreign companies to set up new facilities in these countries. Thus, the growth of several industrial sectors in these regions is projected to drive the demand for mold release coatings, thereby boosting the overall market growth.
Mold Release Coatings Market Challenges
High Production Cost and Demand for Non-stick Coatings
Several factors might resist the growth of the global mold release coatings market in the upcoming years. Firstly the high production cost of the mold release coatings, and secondly the wide adoption and demand for non-stick coatings. Additionally, in the upcoming years, strict regulations associated with the use of solvent-based mold release coatings are likely to obstruct the mold release coatings market growth. Owing to the easy availability of alternatives such as non-stick coatings on molds, and increasing usage in food processing equipment, and other applications are also expected to curb the global demand for mold release coatings during the forecast period.
Mold Release Coatings Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the mold release coatings market. Major players in the mold release coatings marketare Henkel AG & Co.KGAA, Wacker Chemie AG, Croda International PLC, Daikin Industries Ltd., and Shin-Etsu Chemical Co., Ltd, and among others.
Relevant Reports
Report Code: CMR 19117
Report Code: CMR 28409
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