Mold Release Agents Market: Introduction
- Mold release agents have excellent lubricating and cooling properties, anticorrosion and antibacterial properties, and high stability and effectiveness at high mold temperatures. Due to these properties, they are widely used in the die-casting industry.
- Growth of industries such as PU molding, rubber molding, plastic molding, composite molding, wood composite & panel pressing, and concrete in Asia Pacific is expected to drive the mold release agents market in the region during the forecast period
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Key Drivers of Global Mold Release Agents Market
- The global mold release agents market is driven by growth of the global die-casting and molding industries. Factors such as increase in urban population, rise in the demand for casting parts, and growth of rubber molding activities in the automotive industry have propelled the global mold release agents market.
- Use of mold release agents significantly reduces the operational costs and time and increases the output by multiple times. Furthermore, mold release agents also offer greater surface finish and eliminate the issue of porosity.
- With growing number of environment-related regulations to curb emissions of volatile organic compounds (VOCs), various key manufacturers are focusing on the development of eco-friendly mold release agents with the lower level of emissions of volatile organic compounds.
Water-based Mold Release Agents Segment to Witness Attractive Opportunities
- In terms of volume and value, water-based mold release agents is projected to be a rapidly expanding segment of the global mold release agents market during the forecast period, owing to increasing awareness about use of eco-friendly products.
- Water-based mold release agents are also non-flammable, due to which they are widely used in the molding industry
- Among applications, the PU molding segment is estimated to dominate the global mold release agents market during the forecast period. Increasing demand for PU for use in various applications, such as furniture, bedding, automotive seating, interior spaces of automobiles, and footwear soles, is driving the segment.
Availability of Substitutes Likely to Hamper Market
- The global mold release agents market is significantly hampered by easy availability of alternative nonstick coatings, which provide better surface finish and reduce the porosity. Also, governments of various countries across the world have imposed stringent regulations on emissions of volatile organic compounds. This, in turn, is forcing manufacturers to switch to alternative mold release agents.
- Another factor affecting growth of the global mold release agents market is fluctuating raw material prices
Asia Pacific to Hold a Major Share of Global Mold Release Agents Market
- Demand for mold release agents is estimated to be high in the die-casting industry in Asia Pacific during the forecast period, owing to growth of the automotive industry in countries such as China, India, and Indonesia
- Asia Pacific is anticipated to account for a leading share of the global mold release agents market during the forecast period, owing to presence of a large number of manufacturers, such as TAG Chemical India Pvt. Ltd. (India), Shin-Etsu Chemical Co., Ltd. (Japan), and Daikin Industries Ltd. (Japan), in the region.
- Rising consumer spending on automotive and construction sectors and growing population are projected to boost the rubber molding industry in Asia Pacific from 2019 to 2027. This, in turn, is expected to promote growth of the mold release agents market in the region during the forecast period. China holds a major share of the Asia pacific market and it is also anticipated to be a rapidly expanding market in the region between 2019 and 2027.
- Middle East & Africa is anticipated to be the most rapidly expanding market for mold release agents during the forecast period. The market in the region is undergoing the developing stage and key players are heavily investing in the market in this region so as to expand their presence in the region.
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- A large number of players operate in the global mold release agents market. However, the global market is witnessing an increasing shift toward consolidation. This can be ascribed to mergers and acquisitions by major companies operating in the U.S. and Europe in order to capitalize on untapped potential of the Asia Pacific and Africa markets.
- On June 17, 2019, Henkel showcased its new Bonderite product at ‘GIFA 2019’, an event held at Düsseldorf, Germany. The product is developed for die-casting solutions employed for cleaning, lubricating, surface treatment, and bonding.
- In 2017, Chem-Trend acquired the mold release agents business of Rubio Trading & Consulting SRL, a company based in Arad, Romania. The acquisition has helped the company gain higher market share in the mold release agents market in Eastern Europe.
Key Players Operating in Global Mold Release Agents Market
Key players operating in the global mold release agents market are:
- Chem-Trend L.P.
- Henkel Ag & Co. KGaA
- Croda International PLC
- LANXESS Group
- Shin-Etsu Chemical Co., Ltd.
- Daikin Industries, Ltd.
- Michelman, Inc.
- Marbocote Limited
- Mcgee Industries, Inc.
- Miller-Stephenson, Inc.
- TAG Chemicals GmbH
- LORD Corporation
- AGC Seimi Chemical Co., Ltd.
- Ampacet Corporation
- BCC Products, Inc.
- ChUKyo Group
- Cresset Chemical Company
- Dow, Inc.
- Illinois Tool Works, Inc.
Global Mold Release Agents Market: Research Scope
Global Mold Release Agents Market, by Type
- Water-based Mold Release Agents
- Solvent-based Mold Release Agents
Global Mold Release Agents Market, by Application
- Pu Molding
- Rubber Molding
- Plastic Molding
- Composite Molding
- Wood Composite & Panel Pressing
Global Mold Release Agents Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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