CHICAGO, May 29, 2024 /PRNewswire/ -- The report "Mold Release Agents Market by Type (Water-based, Solvent-based), Application (Die-casting, Rubber Molding, Plastic Molding, Concrete, PU Molding, Wood Composite & Panel Pressing, Composite Molding, Others), & Region - Global Forecast to 2029", is estimated at USD 2.2 billion in 2024 and is projected to reach USD 2.9 billion by 2029, at a CAGR of 6.1%.
The mold release agents find extensive use in diverse industries, including manufacturing, construction, and automotive. The seamless removal of molded components from molds, the avoidance of damage and faults, and the improvement of production process efficiency rely on mold release agents. The combination of industrial growth, technological advancements, regulatory pressures, and the need for efficient manufacturing processes are expected to drive the mold release agents market.
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Solvent-based mold release agents are the second-largest mold release agents material in mold release agents market.
The solvent-based mold release agents have been preferred due to their high efficiency in assuring seamless mold release processes. These formulations often exhibit superior lubricity and provide a reliable release, reducing the risk of defects and ensuring high-quality surface finishes on molded products. The broad applicability and the ability to function well in a broad range of temperatures and conditions of solvent-based mold release agents also contribute to their substantial market share.
PU molding is projected to be the fastest-growing application of the mold release agents market, in terms of value, during the forecast period.
Polyurethane is a highly adaptable polymer that finds extensive application in a wide range of sectors, owing to its unique combination of qualities, including flexibility, durability, and resistance to chemicals and abrasion. These characteristics make PU an ideal material for a multitude of applications. As industries continue to leverage the benefits of polyurethane in their manufacturing processes, the demand for high-performance mold release agents that can optimize PU molding will continue to rise, solidifying its position as a key segment in the mold release agents market.
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Asia Pacific is projected to be the fastest growing market for mold release agents during the forecast period
Asia Pacific accounts for the largest share and is projected to dominate the mold release agents market during the forecast period. This dominance is due to its vast industrial base, growing population, and developing industrial skills in the emerging economies like China, India, and South Korea. The shift in the population drives up the demand for consumer goods, automobiles, and electronics, which in turn drives up demand for the industrial processes that use mold release agents.
The key players profiled in the report include Freudenberg Group (Germany), Daikin Industries, Ltd. (Japan), Henkel AG & Co. KGaA (Germany), LANXESS AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Dow Inc. (US), Michelman, Inc. (US), Marbocote Ltd (UK), McGee Industries, Inc. (US), Miller-Stephenson, Inc. (US).
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