Key Companies covered in Release Coating Market are Dow, Wacker Chemie AG, Evonik Industries, Shin-Etsu Chemical Co., Ltd., Momentive, HITAC ADHESIVES & COATINGS, Mayzo, Inc., Elkem, Rayven, Inc., Synthomer PLC, and more players profiled.
Pune, India, June 20, 2023 (GLOBE NEWSWIRE) -- The global release coating market size was valued at USD 287.0 million in 2022, and it will grow from USD 295.0 million in 2023 to USD 455.4 million by the end of 2030, with a CAGR of 6.4% during the forecast period.
The release coating is generally manufactured using non-silicone and silicone as they provide a clean and smooth release of the backing sheet. The superior properties of these release coating materials have high demand from end-use industries and are expected to increase during the forecast period. Fortune Business Insights presents this information in their report titled "Global Release Coating Market, 2023–2030."
Adhesive Compatibility of Silicone to Drive Market
Based on type, the market is segmented into silicone and non-silicone. Due to the high compatibility properties of silicone with several adhesive technologies, it is anticipated to grow significantly during the forecast period.
Solventless Segment to Register a Significant Growth Rate Due to its Chemical Properties
Based on formulation, the market is segmented into solvent-based, solventless, emulsion, and others. The solvent-based segment had significant growth owing to the demand from industrial and graphic film applications.
Several Functions of Labels to Aid Growth
By application, the market is segmented into labels, tapes, hygiene, industrial, medical, food bakery, graphic films, and others. High demand for labels from the packaging industry as they provide pricing of the product, information, and tracing options which assist in shipment.
Geographically the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Lockdown Restriction Reduced Demand from End-Use Industries Hindering Market Growth
Imposed laws during COVID-19 resulted in a decline in the market as manufacturing units were shut down. Moreover, fluctuating crude oil prices, and crude oil by-products consisting of methanol and silicone metal that are consumed regularly in coating manufacturing affected the market.
Drivers & Restraints:
Preference for Silicone Labels Drives Market Expansion
Packaging industries’ high demand for silicone labels is expected to increase the release coating market share. These labels are preferred by companies due to its ability to disclose vital information about the product such as product information, pricing, and other details. However, fluctuations in crude oil prices affect coating production, which may stifle the release coating market growth.
Regional Insights
High Population of Asia Pacific Bolsters Region’s Growth
Asia Pacific dominates the market. It was valued at USD 112.9 million in 2022. China holds the largest share of the region. Busy lifestyles, high populations, and changing food consumption behavior result in growing demand from the packaging and food industries which further contribute to the region’s growth. The growing e-commerce industry drives the market in North America. The usage of labels and removable tapes is tremendous in the e-commerce industry.
Competitive Landscape
Key Players Rely on Strong Distribution Networks to Expand Growth Wacker Chemie AG, Dow, Shin-Etsu Chemical Co., Ltd., and Evonik Industries, are some of the key players in the market. Leading companies have robust distribution networks, several product offerings, and a strong presence. Dow is a major company and has a strong presence in Asia Pacific, Europe, the Middle East & Africa and the Americas.
November 2021 - Elkem has announced the finalization of the new manufacturing unit to produce high-quality organo-functional silicones for different end-use applications such as personal care and release coatings. The purpose of the acquisition is to support its growth strategy.
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