The latest research report from Market Research Future (MRFR) profiles the global release coatings market and provides a detailed overview of the market’s likely growth trajectory over the forecast period till 2023. The major drivers and restraints affecting the global release coatings market are profiled in detail in the report to provide readers a clear overview of what is affecting the market most significantly. The leading factors affecting the market positively as well as negatively are profiled in the report, providing readers a clear view of the market’s movement. Major players operating in the global release coatings market are also profiled in the report.
The release coating market is estimated to be USD 157 million in 2021 and is projected to reach USD 225 million by 2025, at a CAGR of 7.5% between 2022 - 2030
Competitive Leaderboard:
Leading players in the global Release Coatings Market include OMNOVA Solutions Inc., Shin-Etsu Chemicals Co. Ltd., Evonik Industries AG, Momentive Inc., Wacker Chemie AG, Dow Corning Corporation, BASF SE, Cytec Solvay Group, the Dow Chemical Company, and KISCO Limited. Product capacity expansion is likely to remain a key tactic for players in the global release coatings market over the forecast period. The rising demand for release coatings in industrial and food and beverage applications is likely to drive the demand for release coatings, leading to growing emphasis on product capacity expansion by major players.
Release coatings are used to prevent adhesion between two surfaces and thus find widespread application in labels, tapes, and other stationery items. Release coatings are silicone-based coatings consisting of one polymer, which is polymerized by a cross linking agent either thermally or under UV light. Release coatings are extensively used to prevent adhesion between surfaces and thereby help in minimizing material loss. The advantages of release coatings such as high tensile strength and excellent tear strength properties make them suitable to be used in various applications. Release coatings are extensively used in applications such as stickers, labels, tapes, hygiene products, medical, food, and beverage, and packaging, among others.
The growing demand for digital label printing and mechanical flexographic printing is expected to have a positive impact on the global release coatings market owing to their extensive use in tapes and films. Moreover, the growing packaging industry in developing regions throughout the world is also expected to significantly contribute to the growth of the market during the forecast years. However, the volatility in raw material prices can be a major restraining factor to the market growth. Furthermore, the growing research and development activities owing to the stringent regulations on the VOC content, mainly in North America and Europe, have compelled the manufacturers to invest in RD, which is a major opportunity for the market during the forecast period.
Segmentation:
The global release coatings market is segmented on the basis of material, formulation, application, and region.
By material, the global release coatings market is segmented into silicone release coatings and non-silicone. The silicone segment holds the largest share in the global release coatings market and is likely to remain the leading segment over the forecast period due to the predominant use of silicone in release coatings. Silicone release coatings offer a number of benefits over non-silicone products, leading to a widespread demand for silicone products.
By formulation, the global Release Coatings Market Size is segmented into solvent-based, water-based, and oil emulsions.
By applications, the global release coatings market is segmented into labels, tapes, hygiene, industrial, medical, food and beverages, and others. The labels and tapes segments hold a cumulative share of around 50% in the global release coatings market, accounting for a steady dominance in the global market. The industrial and food and beverages segments are also likely to be important for the global release coatings market over the forecast period.
Regional Analysis:
Asia Pacific holds the largest share in the global release coatings market and is likely to retain its dominance over the forecast period due to the growing urban population in the region, which has led to a growing demand for labels, tapes, and other stationery items.
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