The mold release agents market is estimated to grow from USD 2.2 billion in 2024 to USD 2.9 billion by 2029, at a CAGR of 6.1% in terms of value. Rapidly growing automotive and construction industries serve as a significant driver for innovation Additionally, the increasing manufacturing sector is expected to grow in the mold release agents market during the forecast period.
Based on type, the mold release agents market is segmented as water-based mold release agents, solvent-based mold release agents, and other mold release agents. Water-based mold release agents were the largest segment in global mold release agents market, in terms of value, in 2023. It is also estimated to witness the highest growth rate during the forecast period. This is because water-based mold release agents are environmentally friendly with low or no volatile organic compound (VOC) content.
Based on application, the mold release agents market is segmented as die-casting, PU molding, plastic molding, concrete, composite molding, rubber molding, wood composite & panel pressing and, and other applications. Die-casting is estimated to be the largest application for mold release agents market, in terms of value, during the forecast period. The dominance is due to the huge demand for metals such as aluminum, zinc, and magnesium, globally. The demand for metal casting drives the demand for mold release agents.
Based on region, Asia Pacific stands out as the fastest growing market for mold release agents. Asia Pacific’s dominance in the mold release agents market is due to its robust economic growth, increasing population, rapid industrialization rising disposable incomes, and favorable government regulations.
Moreover, densely populated countries such as China and India experience high demand across various sectors, including automotive, manufacturing, and construction. Thus, the demand for metalworking fluids is high in Asia Pacific region. Likewise, the Asia Pacific is projected to be the fastest growing market, in terms of value, during the forecast period 2024 to 2029.
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The key players profiled in the report include Freudenberg Group (Germany), Daikin Industries, Ltd. (Japan), Henkel AG & Co. KGaA (Germany), LANXESS AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan), Dow Inc. (US), Michelman, Inc. (US), Marbocote Ltd (UK), McGee Industries, Inc. (US), Miller-Stephenson, Inc. (US).
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