Release Coatings Market by Type, Plastic Type, Application and Region - Global Forecast to 2030
Release coatings are used in a wide range of applications owing to high tensile strength and tear resisting properties. The rising growth of pharmaceutical, cosmetic and healthcare industries across the globe is substantially affecting the growth of the release coatings market.
The global release coatings market has been driven
by a range of application such as labels, tapes, medical, food and bakery and
personal care among others. Moreover, it is estimated that the labels and tapes
application sector is set to witness the highest growth due to the growing
application of release coatings in both secondary and primary labels which are
extensively used in the packaging industry.
Market Segmentation
The global release coatings market is segmented into
material, formulation, and application. On the basis of material, the market is
segregated into silicone and non-silicone. The market by formulation is
bifurcated into solvent based, water based and oil emulsions. The market by
application is further segregated into labels, tapes, hygiene, industrial,
medical, food & beverages, and others.
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Market Scenario:
The silicon based release coatings material segment is
anticipated to observe a higher CAGR during the forecast period. The enhanced
and superior qualities of these release coatings such as resistance to
moisture, abrasion and slip, improved adhesion and anti-blocking properties
find application in postage stamps, bar code, envelopes and others. Moreover,
the growing demand from medical, packaging and automotive is also significantly
adding to the growth of the segment.
The global Release Coatings Market is spanned across five
key regions: Asia Pacific, North America, Europe, Latin America, and the Middle
East & Africa. Among these, Asia Pacific holds a major share of the market
and is expected to be the fastest growing region at an exponential CAGR. The
presence of the most populated countries of the world such as India and China
has augmented the demand for various sectors such as food and beverage,
personal care, home care, and automotive among others, which, in turn, is
anticipated to fuel the demand for release coatings in the region. Moreover,
the growing processed food demand mainly in Japan, India and China owing to the
growing working population and changing lifestyle is also expected to
contribute to the market.
The European region is estimated to witness a
significant growth in the countries owing to burgeoning personal care,
pharmaceutical industry and packaging. The increasing use of release coatings
in baby diapers and female sanitary products is also adding to the market
growth.
The North American release coatings market is mainly
driven by the U.S. and Canada. The presence of the developed end-user
industries coupled with the increasing adoption rate is contributing significantly
to the growth of the market. Moreover, the growing use in processed food and
bakery among others is fuelling the growth of the release coatings market in
this region. Furthermore, the developed packaging industry coupled with
increasing export of food products from the region has augmented the use of
release coatings in bar codes and product informative labels among others.
Competitive Analysis:
Some of the prominent players operating in the
global release coatings market are KISCO Limited (Japan), The Dow Chemical
Company (U.S.), Cytec Solvay Group (U.S.), and BASF SE (Germany). Dow Corning
Corporation (U.S.), Wacker Chemie AG (Germany), Momentive inc. (U.S.), Evonik
Industries AG (Germany), Shin-Etsu Chemicals Co., Ltd. (Japan), and OMNOVA
Solutions Inc. (U.S.).
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