The global release coatings market is is estimated to be USD 157 million in 2020 and is projected to reach USD 225 million by 2025, at a CAGR of 7.5% between 2020 to 2025. Release coatings are utilized in various applications such as labels, tapes, hygiene, industrial, medical, and food & bakery. Growing demand for release coatings from industries such as transportation & logistics, automotive, and consumer durables in the Asia-Pacific region and the increasing demand for products that require labels are likely to boost the growth of the global release coatings market.
Release coatings are used in applications that involve extreme release properties, such as abrasion, dielectric & chemical insolation, adhesion to substrate, and heat resistance, along with toughness. Non-migratory types of materials such as polyacrylates, carbamates, polyolefins, fluorocarbons, and silicones are used in the manufacturing of release coatings, as they do not contaminate the surface of released materials. The growing popularity of digital label printing technology has increased the demand for release coatings.
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The growing demand for release coatings from the manufacturing industry in the Asia-Pacific region and expansion of the medical industry, especially in emerging economies, are factors contributing to the growth of the global release coatings market.
Medical and industrial are the most significant applications of the global release coatings market. Release coatings are particularly useful with implantable instruments such as orthopedic and respiratory devices, due to their low friction qualities and erelease coating market ase of insertion. In industrial applications, non-stick coatings applied on molds and dies improve release properties to help maximize productivity by minimizing downtime, scrap, and quality issues.
Based on material, the silicone segment of the global release coatings market is projected to grow at the highest CAGR during the forecast period. Silicone, as additives, helps provide resistance to slip, moisture, and abrasion; improved adhesion; anti-blocking properties; gloss; and foam control; among several other benefits.
In 2015, Asia-Pacific accounted for the largest share of the global release coatings market, followed by North America. The high demand for release coatings in the Asia-Pacific region is attributed to the growth of the healthcare and manufacturing industries over the past few years. The Middle East & Africa release coatings market is projected to grow at a relatively slower rate in comparison to other regions.
New product launch was the key strategy adopted by major players to enhance their presence in the global release coatings market between 2012 and 2016. This strategy accounted for a major share of all development strategies adopted by leading players during the above mentioned time period.
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Key players operating in the global release coatings market include Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (U.S.), Evonik Industries AG (Germany), Shin-Etsu Chemicals Co., Ltd. (Japan), OMNOVA Solutions Inc. (U.S.), Mayzo Inc. (U.S.), Product Release Europe Limited (U.K.), and Rayven, Inc. (U.S.), among others.
Dow Corning Corporation launched Syl-Off EM 7978 Coating, a high performance release coating serving the food packaging industry. It aims to meet the growing demand for packaged food products from the food industry, thereby targeting cost reduction, increased productivity, and sustainability. Dow Corning extended its distribution network with Univar Inc. (U.S.) to serve the European pressure sensitive industry. It further focuses on widening its distribution channel and catering to customers in Germany and France. New product launch and agreement are key strategies adopted by Dow Corning Corporation to target potential customers. It has strategically concentrated on expanding its regional presence through agreements. Dow Corning is emphasizing on R&D activities to broaden its product portfolio and strengthen its presence in the global release coatings market.
In August 2015, Wacker Chemie AG developed DEHESIVE SFX, a new silicone polymer for pressure sensitive adhesive labels. It is ideal for use in high-speed coating equipment, as it offers low viscosity. In October 2016, the company announced that it will open a new R&D facility for its silicone business in Michigan, U.S. It aims to provide long-term technical support for its customers in North, South, and Central America.
Wacker Chemie AG is proactively monitoring all environmental regulations in every region for food processing and medical industries to comply with FDA regulations.
In August 2016, Momentive Performance Materials Inc. introduced SilForce SL7562S base polymer at LabelExpo Americas in Chicago, U.S. The product is used for higher productivity and efficiency of label manufacturing, converting, and dispensing. Momentive has well-recognized brands of release coatings and has a strong operational network in the U.S., which, in turn, helps the company enhance its regional presence.
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