As per Fact.MR, a provider of market research and competitive intelligence, the Release Coatings Market is expected to witness a market value of $ 312 Million by the end of 2033 and is expanding at a CAGR of 5.1% during the forecast period.
Release coatings are typically applied to plastic and paper-based materials and are based on silicone compounds. They serve as release agents and enable early release of adhesives. Due to its enhanced adherence and resistance to abrasion, moisture, and slide, silicone is widely utilised in coatings. Paper, peel-and-stick stickers, and labels all have release coatings that are used in industrial operations.
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Growing demand and application of release coatings across a variety of industries, including food & bakery, hygiene, and labelling, are anticipated to be key market growth factors. Growth potential in the target market are also being boosted by the development of digital label printing technologies and the demand for water-based coatings.
Highly Developed Medical and Industrial Sectors Bolstering Sales of Release Coatings
The United States market is anticipated to remain a hub for providers of release coatings, supported by highly developed medical and industrial sectors. By the end of 2033, the market for release coatings in the US is expected to be worth US$105.23 million, growing at a CAGR of 5%.
The Federal Reserve Agency released a study on February 17, 2021, titled “Industrial Production and Capacity Utilization – G.17 – The Fed.” In January, the industrial sector’s production climbed by 0.9%, and the manufacturing sector’s production increased by 1% in the United States.
Key Driving Forces Accelerating the Market Growth
- The growing packaging industry in North America is a major driver for the release coatings market. Release coatings are widely used in various packaging applications, such as labels, tapes, and adhesive films, to ensure easy and clean release of the packaged product.
- PSA tapes are extensively used in industries like automotive, construction, and healthcare. Release coatings play a crucial role in PSA tapes by providing easy release characteristics. As the demand for PSA tapes continues to rise, the release coatings market is witnessing significant growth.
- The medical and healthcare sectors rely on release coatings for applications such as wound care products, medical tapes, and diagnostic devices. With the increasing focus on healthcare and advancements in medical technology, the demand for release coatings in this sector is growing rapidly.
- North America has a well-established manufacturing and industrial sector. Release coatings are used in manufacturing processes, such as molding, casting, and forming, to ensure easy release of products from molds or equipment. The expansion of the manufacturing and industrial sector is driving the demand for release coatings.
- Continuous technological advancements and product innovations in the release coatings industry are contributing to market growth. Manufacturers are developing high-performance release coatings with improved release properties, enhanced durability, and eco-friendly formulations, which are attracting customers and driving market expansion.
Key Companies Profiled in this Report
- Momentive Performance Materials, Inc.
- Wacker Chemie AG
- Evonik Industries AG
- Hitac Adhesives and Coatings Inc.
- Product Release Europe Limited
- Mayzo, Inc.
- Omnova Solutions, Inc.
- Shin-Etsu Chemical Co., Ltd.
- Rayven, Inc.
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Strategies For Manufacturers/Suppliers To Scale In The Market
- Manufacturers can expand their product portfolios by developing a diverse range of release coatings tailored to specific industry needs. By offering a comprehensive selection of coatings with different properties and functionalities, companies can attract a broader customer base and cater to a wide range of applications.
- In May 2020, Shin-Etsu Chemical Co. Ltd introduced a new technology to reduce the platinum amount, which is utilized in silicone-based release coatings. These are widely used in labels, adhesive tapes, stickers and release films.
- Investing in research and development (R&D) is crucial for staying ahead in the release coatings market. Companies should allocate resources to develop innovative formulations, improve performance characteristics, and introduce environmentally friendly solutions. Continuous R&D efforts can lead to breakthroughs and provide a competitive advantage.
- In May 2020, Shin-Etsu Chemical Co. Ltd. developed a new technology to reduce the platinum amount, which is utilized in silicone-based release coatings. Key applications of these release coatings are labels, adhesive tapes, stickers, and release films. They are also used to manufacture process-release liners.
- In November 2019, Wacker Chemie AG opened its new facility for silicon metal production in Holla, Norway. The company made an investment of US$ 111 million in this plant, which is one of the prominent plants across the globe.