The global release coatings market has been driven by a range of application such as labels, tapes, medical, food and bakery and personal care among others. Moreover, it is estimated that the labels and tapes application sector is set to witness the highest growth due to the growing application of release coatings in both secondary and primary labels which are extensively used in the packaging industry.
Release coatings are used in a wide range of applications owing to high tensile strength and tear resisting properties. The rising growth of pharmaceutical, cosmetic and healthcare industries across the globe is substantially affecting the growth of the release coatings market.
The silicon based release coatings material segment is anticipated to observe a higher CAGR during the forecast period. The enhanced and superior qualities of these release coatings such as resistance to moisture, abrasion and slip, improved adhesion and anti-blocking properties find application in postage stamps, bar code, envelopes and others. Moreover, the growing demand from medical, packaging and automotive is also significantly adding to the growth of the segment.
The North American release coatings market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing use in processed food and bakery among others is fuelling the growth of the release coatings market in this region. Furthermore, the developed packaging industry coupled with increasing export of food products from the region has augmented the use of release coatings in bar codes and product informative labels among others.
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The global release coatings market is segmented into material, formulation, and application. On the basis of material, the market is segregated into silicone and non-silicone. The market by formulation is bifurcated into solvent based, water based and oil emulsions. The market by application is further segregated into labels, tapes, hygiene, industrial, medical, food & beverages, and others.
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Some of the prominent players operating in the global release coatings market are KISCO Limited (Japan), The Dow Chemical Company (U.S.), Cytec Solvay Group (U.S.), and BASF SE (Germany). Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Momentive inc. (U.S.), Evonik Industries AG (Germany), Shin-Etsu Chemicals Co., Ltd. (Japan), and OMNOVA Solutions Inc. (U.S.).
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