The Mold Release Agents market size is estimated to reach US$2.5 billion by 2027, after growing at a CAGR of 6.1% during the forecast period 2022-2027. The mold release agent or release agent is a chemical that acts as a barrier between the molding surface and the substrate. The mold release agents have wide application in die casting, wood composite, rubber molding and others, thereby offering high demand across major end-use industries. The release films such as polyvinyl fluoride (PVF), fluoroethyleneproplyene or silicon rubber are used in industries such as construction, automotive and others, which boost its demand and is anticipated to be a major driver in the mold release agents market. The covid-19 pandemic disrupted the growth and functioning of the market. The production halt, fall in demand, closure of various industrial sectors and other lockdown restrictions hindered the growth. However, with recovery and stabilizing demand from major end-use sectors, the applicability of mold release agents is rising. This is anticipated to boost the growth in the market during the forecast period.
Report Coverage
The “Mold Release Agents Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the mold release agents market.
By Formulation: Water-Based and Solvent-Based.
By Type: Semi-Permanent, Non-Permanent, Sacrificial, Internal, External and Others.
By Application: Rubber Mold, Die Casting, Concrete, Plastics Molding, Wood Composites, Food Processing and Others.
By End-Use Industry: Automotive (Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles), Building & Construction (Residential, Commercial and Industrial), Aerospace, Metallurgy, Pharmaceuticals, Food & Beverages (Bakery, Dairy and Others) and Others.
By Geography: North America (USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East [Saudi Arabia, UAE, Israel and Rest of the Middle East] and Africa [South Africa, Nigeria and Rest of Africa]).
Key Takeaways
- Asia-Pacific dominates the mold release agents market, owing to a growing demand for release agents for a wide range of applications in automotive, construction, metallurgy, aerospace, food & beverage and others, along with established water-based mold release agents production units in this region, thereby boosting the growth in this region.
- The growing automotive industry offers major demand in the mold release agent industry for a wide range of applications in rubber tires, window encapsulation, steering wheels, plastic molding and others, thereby driving the market.
- The water-based mold release agents have superior features such as no toxicity, negligible volatile organic compounds (VOCs) and advanced characteristics such as smooth release and non-flammability compared to the solvent-based release agents, thereby having high demand in the market.
- However, the hazardous emissions and contamination from the solvent-based mold release agents, along with the threat from the non-stick coating pose a major challenge to the growth and demand of the mold release agents market.
Mold Release Agents Market Segment Analysis – by Formulation
The water-based segment held the largest share in the mold release agents market in 2021 and is forecasted to grow at a CAGR of 6.4% during the forecast period 2022-2027. The high demand for water-based mold release agents is influenced by their superior properties such as no volatile organic compounds, non-flammability and smooth release compared to the solvent-based mold release which is high in VOC content, toxic and flammable. The water-based mold release agents are environment-friendlier compared to the other formulations; thereby having flourishing demand across industries, majorly automotive. The adoption of non-toxic and enhanced performance-based mold release for a wide range of applications is boosting the demand for water-based formulations. Thus, with major preference over the toxic solvent-based mold release agents, the water-based segment dominates a major share and is projected to grow rapidly during the forecast period.
Mold Release Agents Market Segment Analysis – by End-Use Industry
The automotive industry segment held a significant share in the mold release agents market in 2021 and is forecasted to grow at a CAGR of 6.9% during the forecast period 2022-2027. The mold release agent has flourishing application in the automotive sector in rubber for tires, plastics, steering wheels and others. The automotive industry is flourishing enormously due to factors such as increasing investments in fuel-efficient and electric vehicles, increasing demand for passenger cars in the middle-class sector and urban areas. For instance, according to the International Organization of Motor Vehicles Manufacturers (OICA), the production of passenger cars rose from 55,834,456 units in 2020 to 57,054,295 units in 2021. Moreover, according to the European Automobile Manufacturers Association (ACEA), motor vehicle production increased by 1.3% with 79.1 million vehicles produced in 2021 compared to 2020. With the increase in rubber production for applicability in automotive tires, the demand for mold release agents in the automotive sector is anticipated to rise, along with major market growth in the automotive industry during the forecast period.
Mold Release Agents Market Segment Analysis – by Geography
Asia-Pacific region held the largest share in the mold release agents market in 2021 up to 41%. The high demand for mold release agents in the Asia-Pacific region is influenced by its flourishing application across industries, lucrative manufacturing opportunities and established production base for automotive in major countries such as China, India and others. The automotive industry in APAC is growing rapidly owing to the rise in vehicle production, urbanization and high demand for fuel-efficient vehicles. For instance, according to the Japan Automobile Manufacturers Association (JAMA), the total motor vehicle production in Japan rose from 678,546 units in September 2019 to 804,523 units in November 2019. According to the International Organization of Motor Vehicle Manufacturers (OICA), the automotive production in 2021 rose to 3% in China after a fall of 2% in 2020, 63% rise in Indonesia in 2021 after a fall of 46% in 2020 and 30% growth in India in 2021 after a fall of 25% in 2020. Thus, with robust growth and increase in automotive production, the demand for mold release agents for applications in plastic molding and rubber molding for tires, wheels and other automotive components is anticipated to grow rapidly. This is projected to boost the growth of the Asia-Pacific region in the mold release agents industry during the forecast period.
Mold Release Agents Market Drivers
Bolstering Growth of the Construction Industry
The mold release agents have flourishing demand in the building and construction sector for applications in concrete molding, wood composites and others. The polyvinyl fluoride films and fluoroethylenepropylene are also used in the construction sector for ply location. The building and construction sector is growing rapidly owing to rapid housing developments and infrastructural activities, along with rapid urbanization across the globe. For instance, according to the US Census Bureau, construction spending in the United States accounted for the seasonally adjusted annual rate of US$1,513 in March 2021 and rose to US$1744.8 in April 2022. According to the Indian Brand Equity Foundation (IBEF), the construction sector in India is expected to become the third largest in the world by 2025, with US$1 trillion a year from the construction of around 11.5 million homes in a year. With the rise in building and construction demand and production, the demand for mold release agents for application in concrete, composites and others in the building and construction sector is growing, thereby boosting the growth and driving the mold release agents market.
Flourishing Application in the Aerospace Industry
The mold release agents have growing applications in the aerospace industry for plastic molding, die casting of metals, rubber and others. The aerospace sector is flourishing rapidly due to factors such as robust growth in air travel and an increase in air traffic across the globe. For instance, according to Boeing, the global commercial fleet will surpass 49,000 airplanes by 2040. Furthermore, according to Boeing Commercial Market Outlook, North America will require around 9,160 new plane deliveries by the end of the year 2040. According to the International Air Transport Association (IATA), the estimated overall revenues for aerospace saw a growth of 26.7% in 2021 compared to 2020. With the rise in aerospace production, the demand for mold release agents for major applications in aircraft metal components, rubber tires and others is growing, thereby driving and offering major growth opportunities in the mold release agents industry.
Mold Release Agents Market Challenges
Harmful Emissions of Solvent-Based Mold Release Agents and Substitute Threat
The hazardous effects of solvent-based mold release agents formulation create a major challenge in the market. The solvent-based formulations have high volatile organic compounds (VOCs), which produce harmful emissions and contamination in the environment. The restrictions and regulations implemented on the toxic and VOC emission from solvent-based mold release pose a major challenge and growth restrain. For instance, U.S. Environmental Protection Agency (EPA) regulated the emissions through VOCs under the Clean Air Act (CAA). Moreover, the National Volatile Organic Compound Emission Standards aim to reduce the VOC emission by 90,000 tonnes per year. Furthermore, the threat of substitution from the non-stick coating, which offers better surface finishing and reduced porosity compared to the other mold release agents. Thus, the restraining factors such as restrictions on harmful emissions by the high content of VOC in solvent-based mold release and the emergence of a better alternative in the market affects the demand and applications in the market, thereby hindering the growth and creating a major challenge for the industry.
Mold Release Agents Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the mold release agents market. Mold release agents market's top 10 companies are:
1. Croda International Plc.
2. LANXESS Group
3. Michelman, Inc.
4. Chem-Trend L.P.
5. Marbocote Limited
6. TAG Chemicals GmbH
7. Henkel AG & Co.
8. Wacker Chemie AG
9. Chukyo
10. Moresco Corporation
Recent Developments
- In March 2021, the RDAbbott Co. Inc. launched the DiamondKote DKW-4168, a mold release agent from ITW Pro Brands. This launch was made for the FKM gasket and seal manufacturers for the automotive industry, thereby offering a diverse product portfolio for the company in the mold release agent market.
- In January 2021, the Chem Trend, a global leader in release agents and other molding products launched a new release agent - Chemlease 2755W. This launch offered semi-permanent release technology for enhanced performance and major growth in the market.
- In January 2019, the Chem Trend LP opened an advanced research & development (R&D) space in Germany. This expansion will boost the mold release agents business by expanding the R&D capabilities.
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