Mold Release Agents Market worth $2.9 billion by 2029 Globally, at a CAGR of 6.1% says MarketsandMarkets™

/EIN News/ -- Chicago, July 22, 2024 (GLOBE NEWSWIRE) -- The Mold Release Agents Market 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% in terms of value, as per the recent study by MarketsandMarkets™. 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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List of Key Players in Mold Release Agents Market:

• 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).

Drivers, Restraints, and Opportunities in Mold Release Agents Market:

• Driver: Rapidly growing automotive and construction industries
• Restrain: Stringent regulations on solvent-based mold release agents
• Opportunity: Infrastructure development in emerging economies
• Challenge: Fluctuating raw material prices

Key Findings of the Study:

• Solvent-based mold release was the second-largest product type of mold release agents’ market, in terms of value, in 2023.
• Based on application, composite molding was the second-fastest growing segment of the mold release agents market, during the forecast period.
• Asia Pacific to account for the largest share of the global mold release agents’ market, in terms of value, during the forecast period.

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Based on type, the mold release agents market is segmented as water-based mold release agents, solvent-based mold release agents, and other mold release agents. Water-based mold release agents were the largest segment in global mold release agents market, in terms of value, in 2023. It is also estimated to witness the highest growth rate during the forecast period. This is because water-based mold release agents are environmentally friendly with low or no volatile organic compound (VOC) content.

Based on application, the mold release agents market is segmented as die-casting, PU molding, plastic molding, concrete, composite molding, rubber molding, wood composite & panel pressing and, and other applications. Die-casting is estimated to be the largest application for Mold release agents market, in terms of value, during the forecast period. The dominance is due to the huge demand for metals such as aluminum, zinc, and magnesium, globally. The demand for metal casting drives the demand for mold release agents.

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Based on region, Asia Pacific stands out as the fastest growing market for mold release agents. Asia Pacific's dominance in the mold release agents market is due to its robust economic growth, increasing population, rapid industrialization rising disposable incomes, and favorable government regulations. Moreover, densely populated countries such as China and India experience high demand across various sectors, including automotive, manufacturing, and construction. Thus, the demand for metalworking fluids is high in Asia Pacific region. Likewise, the Asia Pacific is projected to be the fastest growing market, in terms of value, during the forecast period 2024 to 2029.

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