Fact.MR’s report on global release coatings market projects a steady growth in 2024, owing to consistent demand from the medical sector, opines a new study by consulting firm Fact.MR. According to the study, medical sector remained relatively less impacted by the COVID-19 crisis, which prevented any massive slump in release coatings demand. However, sluggish demand from other sectors curtailed opportunities for release coatings manufacturers.
The report remains positive on the long-term outlook, projecting revenues to increase at 4.5% CAGR through 2031.
“Solvent-based release coatings are being replaced by sustainable materials, and Fact.MR report opines that release coatings manufacturers are making the shift to more sustainable materials,” says a Fact.MR analyst.
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For instance, a key player Wacker Chemie AG, is leaning towards launching more solvent-free products like DEHESIVE release coatings, easier, safer, faster and more hygienic to use
Key Takeaways
- Silicone to remain top-selling material through 2024
- Application within labels & tape and hygiene segment projected to rise
- China is anticipated to remain the lucrative market in Asia Pacific
- United States will continue exhibiting high demand for release coatings in North America
- Germany to emerge as a potential market backed by the growing adoption of labels and tapes
- Japan and South Korea release coatings market heavily influenced by sustainability trends
Prominent Drivers
- Increasing application in medical industry as a result of the demand for sustainable drug-releasing coatings will spur growth
- Commencement of economic recovery post COVID-19 likely to create new growth avenues
Key Restraints
- Toxic and non-biodegradable attributes of solvent-based release coatings are likely to hinder sales
- Vulnerability of water-based release coating to biological attack and stability issue might emerge as key restraint
Discover more about the Release coatings market with 132 figures and 25 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/release-coatings-market
Competitive Landscape
Dow Du Pont Inc., Evonik Industries AG, Hitac Adhesives and Coatings Inc., Mayzo Inc., Momentive Performance Materials Inc., Omnova Solutions Inc., Product Release Europe Limited, Rayven Inc., Shin-Etsu Chemical Co. Ltd., and Wacker Chemie AG are some of the key players profiled by Fact.MR. Leading players are inclined towards using sustainable products for further expansion of their revenue.
For instance, in February 2024, Dow and Henkel partnered to announce the expansion of its high performance product AFFINITY GA polyolefin elastomers with the launch of bio-based AFFINITY RE. This solution has enabled Dow customer Henkel’s Technomelt SUPRA ECO line to achieve another milestone in both company’s sustainable goals.
Additionally, in 2019, Dow Du Pont also collaborated with Colorcon Inc., for the product Aquacoat ECD for sustained release and aquacoat CPD for enteric coating applications. They offer wide range of application for the sustainable drug release and pharmaceutical use.
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More Valuable Insights on Release coatings Market
Fact.MR, in its new offering, presents an in-depth analysis on the global release coatings market. The study divulges essential insights on the Release coatings market on the basis of applications (tapes & labels, hygiene, industrial, medical and other applications), material (silicone and non-silicone), and key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA)).
Key Questions Covered in the Report
- Which is the lucrative segment for the release coatings market?
- What will be the market outlook for release coatings in the upcoming years?
- What will be the key drivers for the release coatings market?
- What will be the challenges that key players would face due to Covid-19?
- Which material will account for lucrative sales of release coatings?
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