DUBLIN--(BUSINESS WIRE)--The "India Mold Release Agents Market Research Report: By Type, Application - Opportunity Analysis and Growth Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
In 2018, the Indian mold release agents market generated a revenue of $114.6 million and is projected reach a value of $153.9 million in 2024, advancing at a 5.2% CAGR during the forecast period (2019-2024).
The market is registering growth due to the expanding construction industry and rising demand for die casting for manufacturing automotive components. A chemical utilized as a coating to prevent materials from sticking to surfaces is referred to as mold release agent. These agents act as a barrier between the molding surface and the substrate.
When type is considered, the Indian mold release agents market is categorized into solvent-based, water-based, and others (which includes release agents in the form of granules and powder). The largest share of the market was held by the water-based mold release agents during the historical period (2014-2018). The reason for this is that water-based release agents contain minimal amount of volatile organic compounds (VOC), carcinogens, and mutagens unlike solvent-based mold release agents. Stringent regulations regarding VOC emissions are predicted to be implemented in the near future due to the rising environmental concerns.
In terms of application, the Indian mold release agents market is divided into wood and fiber composites, uncured rubber, tire, die casting (ferrous and non-ferrous), polyurethane processing, concrete, rubber and other elastomers, plastic, and others. Out of these, the polyurethane processing application held the largest share (24.6%) of the market in 2018, in terms of volume. This is because of the increasing requirement for polyurethane-based components from various industries, including construction, automotive, and footwear. In terms of volume, the concrete application is projected to register the fastest growth during the forecast period.
A key driving factor of the Indian mold release agents market is the growing construction industry in the country. The advancements in the Indian construction industry are occurring due to the rising disposable income, rapid migration to urban cities, and macroeconomic growth. In order to cater to the growing inflow of people, the investments in the commercial and residential construction sector are increasing. Since mold release agents are utilized in the construction industry for preventing the adhesion of concrete bricks to their forming molds, their demand is also rising.
Another major driver of the Indian mold release agents market is the growing demand for die casting for the manufacturing of automotive components. These agents are used in the die casting process to prevent the adhesion of the component to the mold. The various parts of automobiles, such as wheels, cylinder heads, engine parts, valve covers, carburetors, handle bars, and pistons, are manufactured by the die casting process. The automobile production is rising because of the growing adoption of electric vehicles, which will lead to the increasing demand for mold release agents.
The strong growth potential of the electrical & electronics industry is creating a huge opportunity for the players operating in the Indian mold release agents market. The electrical & electronics industry has been expanding considerably in the country because of the rising requirement for electronic products due to the increasing disposable income, growth in supporting infrastructure and logistics, and favorable government policies. This is projected to drive the market as mold release agents are required for the production of a large number of electronic components, including keypads, electronic machine covers, keyboards, and white good interiors.
Hence, the market is witnessing significant growth due to the increasing demand for die casting for manufacturing automotive components and growing construction industry.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Type
1.3.2 Market Segmentation by Application
1.3.3 Analysis Period
1.3.4 Market Data Reporting Unit
1.3.4.1 Value
1.3.4.2 Volume
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.2 Market Dynamics
4.2.1 Trends
4.2.2 Drivers
4.2.4 Restraints
4.2.6 Opportunity
Chapter 5. India Market Size and Forecast
5.1 By Type
5.2 By Application
5.2.1 Polyurethane Processing, by Application
5.2.2 Wood and Fiber Composites, by Application
5.2.3 Concrete, by Application
5.2.4 Rubber and Other Elastomers, by Application
5.2.5 Tire, by Application
5.2.6 Plastic, by Application
5.2.7 Die Casting (Ferrous and Non-Ferrous), by Application
Chapter 6. Competitive Landscape
6.1 Market Share Analysis of Key Players
6.2 Competitive Benchmarking of Key Players
Chapter 7. Company Profile
7.1 Chem-Verse Consultants (India) Private Limited
7.2 Technomak
7.3 Trio Chemicals & Allied Products
7.4 Tuff Bond Industrial Adhesives Pvt. Ltd.
7.5 Illinois Tool Works Inc.
7.6 3M Company
7.7 Dow Inc.
7.8 Wacker Chemie AG
7.9 TAG Chemicals GmbH
7.10 LANXESS AG
7.11 Chem-Trend L.P.
7.12 BuildCore Chemicals
7.13 BASF SE
7.14 Fosroc International Ltd.
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