CHICAGO, June 12, 2019 /PRNewswire/ -- According to the new market research report "Mold Release Agents Market by Product Type (Water-Based, Solvent-Based), Application (Die-Casting, Rubber Molding, Plastic Molding, PU Molding, Concrete, Wood Composite & Panel Pressing, Composite Molding), and Region - Global Forecast to 2024", published by MarketsandMarkets, the Mold Release Agents Market is projected to reach USD 2.5 billion by 2024, at a CAGR of 6.0% from USD 1.8 billion in 2019. Growing production of automobiles and increased use of mold release agents in various applications such as rubber molding, PU molding, and composite molding are expected to drive the mold release agents market. In addition, rapid urbanization and industrialization in countries such as China and India will increase the demand for various end-use products such as concrete, rubber, plastics, and wood. This factor is estimated to drive the mold release agents market.
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Water-based product type is the largest segment of the mold release agents market.
The water-based mold release agent product type segment is estimated to lead the market, in terms of value, in 2019. The demand for water-based mold release agents is growing, because the absence of volatile organic compounds (VOCs) and other harmful chemicals makes them friendlier to the environment and omits risks in terms of health and safety when compared to solvent-based mold release agents.
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Polyurethane (PU) molding application is estimated to be the largest segment of the mold release agents market during the forecast period.
The PU molding application is estimated to be the largest segment of the mold release agents market, in terms of value, during the forecast period. The growing use of PU in applications such as furniture, bedding, automotive interiors, carpet underlay, construction, and packaging among others have driven its demand which in turn drives the demand for mold release agents in their molding process.
APAC is estimated to be the largest market for mold release agents during the forecast period.
APAC is the largest Mold Release Agents Market and is expected to continue dominating the global market during the forecast period. The market is largely driven by increased investments in the manufacturing industries. Improving living standard has been driving the growth of the automotive as well as the construction industries, which is expected to drive the mold release agents market.
The key market players profiled in the report include as Henkel AG & Co. KGaA (Germany), Croda International Plc (UK), Chem-Trend L.P. (US), Marbocote Limited (UK), Shin-Etsu Chemical Co., Ltd. (Japan), LANXESS Group (Germany), Michelman, Inc. (US), McGee Industries, Inc. (US), Daikin Industries Ltd. (Japan), Miller-Stephenson, Inc. (US), LORD Corporation (US), and TAG Chemicals GmbH (Germany).
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