Market Overview:
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.
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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.
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, governments 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.
Industry Segmentation:
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.
Market Dashboard:
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.
·
Marbocote Ltd
·
Michelman, Inc.
·
Henkel AG & Co. KGaA
·
Grignard Company, LLC
·
Wacker Chemie AG
·
Daikin Industries, Ltd.
·
Shin-Etsu Chemical Co., Ltd.
·
REXCO
·
Mcgee Industries Inc
·
Croda International PLC
·
Cresset Chemical Company
·
Chem-Trend L.P.
·
CHUKYO Europe GmbH
Industry Trend:
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.
Regional Analysis:
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 mild 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.
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