External Mold Release Agents Market
External Mold Release Agents Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
External Mold Release Agents Market: Introduction
Mold release agents are applied on the molds of castings to prevent the materials inside the molds from sticking to the mold surface. They form a layer between the cast product and the mold, thereby facilitating easy removal of materials from the mold without damaging the shape of the cast material.
Mold release agents are primarily of three types: external, internal, and semi-permanent
External mold release agents are applied externally to the surface of the mold, unlike internal mold release agents that are added as an additive directly to the resin formulation.
External mold release agents stick to the external surface of the article that has been cast. External mold release agents are sacrificial in nature. This implies that the external mold release agent is removed from the surface of the mold upon every application. This necessitates the reapplication of external mold release agents in order to ensure easy release of every cast article from the mold.
External mold release agents can have wax, silicone, polytetrafluoroethylene (PTFE) or synthetic resins as their main component.
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Key drivers for external mold release agents market
The primary driver for the increased usage of external mold release agent is the need to prevent warpagethat is caused during the release of products from the mold. Warpage is cause due to premature or improper release of objects from the mold. Warpage can damage or alter the shape of the molded/cast object.
Rise in demand for products manufactured by casting or molding, such as rubbers, plastics, and cement, is driving the external mold release agents market
Expansion of automotive and construction industries is also driving the demand for external mold release agents, as these industries extensively use products that employ external mold release agents while being manufactured.
Die casting segment to offer attractive opportunities for external mold release agents market
External mold release agents are primarily utilized in the following applications: die casting, rubber, concrete, plastics, food processing, and paper
Die casting is expected to be the dominant application segment for external mold release agents. Use of external mold release agents is imperative in die casting applications, as easy release helps maintain the shape of the cast object. Die casting process is used to manufacture numerous products in automotive and construction industries. Some of the automotive parts that are manufactured by the die casting process include engine parts, stators, brackets, electronic covers, auto fork components, and heat sinks. Rapid expansion of the global automotive industry is likely to propel the demand for die casted products. This, in turn, is projected to boost the demand for external mold release agents during the forecast period.
Rubber products are also a prominent consumer of external mold release agents. External mold release agents used for concrete are shifting toward the use of greener technologies, such as water-based technologies, which are more environment friendly. Adoption of green external mold release agents for manufacture of concrete is increasing in the construction industry due to their low VOC content, which contributes in gaining LEED credits.
Shift from solvent-based to water-based external mold release agents likely
External mold release agents are water-based or solvent-based. Solvent-based external mold release agents are prominently used as they can function efficiently over a wide range of temperatures and do no freeze during shipping and storage. However, they have a high volatile organic compounds (VOCs) that are not environment-friendly and cause pollution by hampering the air quality.
Therefore, demand for solvent-based external mold release agents is rising at a sluggish pace, as green and environment-friendly water-based external mold release agents are rapidly being adopted instead of solvent-based ones.
Asia Pacific expected to hold dominant share of global external mold release agents market
In terms of region, the global external mold release agents market can be split into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific is a leading consumer of external mold release agents, followed by North America and Europe. Rising demand for automotive in China, India, Japan, and South Korea is expected to fuel the demand for external mold release agents during the forecast period. Asia Pacific is emerging as a global hub for automotive manufacturing owing to the presence of a large number of manufacturing facilities in the region.
Rising foreign direct investments (FDIs) in automotive and construction industries in some developing countries in Asia Pacific is anticipated to fuel the market for external mold release agents in the region during the forecast period.
Demand for water-based external mold release agents is anticipated to increase specifically in Europe and North America. This can be attributed to the stringent environmental regulations in the region regarding VOC emissions. Therefore, demand for environment-friendly external mold release agents is estimated to rise significantly in these regions during the forecast period.
Latin America and Middle East & Africa are expected to offer lucrative opportunity to the external mold release agents market due to the expansion of automotive and construction industries, which utilize components that are manufactured by using mold release agents.
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Key players operating in the external mold release agents market
Numerous market players involved in the manufacturing of external mold release agents. Key players operating in the external mold release agents market include:
Chem-Trend L. P.
Daikin Industries Ltd.
Wacker Chemie AG
Dow Chemical Company
Henkel AG
Marbocote Ltd
Grignard Company
SISIB SILICONE
CHUKYO Europe GmbH
Kimberlite Softwares Pvt. Ltd
Global External Mold Release Agents Market: Research Scope
Global External Mold Release Agents Market, by Type
Solvent-based
Global External Mold Release Agents Market, by Application
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