Release agents are substances used in industrial processes, notably in molding and casting operations, to prevent materials from adhering to molds or equipment surfaces. They facilitate easy removal of finished products from molds, enhancing production efficiency and maintaining product integrity. These agents can be solvent-based or water-based and are crucial for enhancing production efficiency and maintaining product quality.
Sizing and Forecast
The release agents market size has grown strongly in recent years. It will grow from $1 billion in 2023 to $1.06 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to automotive industry growth, construction boom, food processing industry expansion, advancements in chemical formulations, industrial automation and efficiency, and environmental regulations.
The release agents market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to pharmaceutical industry growth, biotechnology advancements, regulatory changes, aging population, chronic disease prevalence, and patent expirations. Major trends in the forecast period include increased demand for natural ingredients, growing emphasis on health and wellness, the rise of clean-label products, technological advancements in formulations, and a focus on convenience and efficiency.
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Segmentation & Regional Insights
The release agents market covered in this report is segmented –
1) By Product: Emulsifiers, Vegetable Oils, Antioxidants, Wax And Wax Esters
2) By Form: Liquid, Solid
3) By Sales Channel: Direct Sales And Wholesalers, Independent Grocery Retailer, Non-Store Retailers, Other Sales Channels
4) By Application: Bakery, Confectionery, Processed Meat, Convenience Food, Other Applications
North America was the largest region in the release agents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the release agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the bakery and confectionery industries is expected to propel the growth of the release agents market going forward. The bakery and confectionery industries encompass the production and sale of baked goods, such as bread, pastries, cakes, candies, and other sweet treats. The expansion of the food service industry, including cafes, restaurants, and quick-service restaurants, has increased demand for bakery and confectionery products. Release agents are commonly employed in bakery operations to prevent baked goods from sticking to baking surfaces, facilitating easy removal and maintaining product integrity. For instance, in February 2024, according to the Government of Canada, a Canada-based body responsible for the federal administration, the retail sales of baked goods in the United States (U.S.) saw a compound annual growth rate (CAGR) of 5.9%, reaching US$82.9 billion in 2022, with projections indicating a CAGR of 3.1% from 2023 to 2027, with an anticipated value of US$97.7 billion by 2026. Therefore, the rise in the bakery and confectionery industries is driving the growth of the release agents market.
Key Industry Players
Major companies operating in the release agents market are BASF SE, DuPont de Nemours Inc., Daikin Industries, Henkel AG, Shin-Etsu Chemical Co. Ltd., Evonik Industries AG, AkzoNobel N.V., Wacker Chemie AG, Clariant AG, Croda International plc, Lord Corporation, Momentive Performance Materials, Michelman Inc., Chem-Trend L.P., Stoner Inc., AFT Fluorotec Ltd, MÜNZING Chemie GmbH, Rexco, Axel Plastics Research Laboratories Inc., Miller-Stephenson Chemical Co., McLube, Franklynn Industries Limited, Münch Chemie International GmbH, Marbo America Inc, Cresset Chemical Co
The release agents market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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