PUNE, India, January 30, 2017 /PRNewswire/ --
The report "Release Coatings Market by Material (Silicone, Non-Silicone), Formultion (Solvent-Based, Water-Based, Oil Emulsions), Application (Labels, Tapes, Hygiene, Industrial, Medical, Food & Bakery), and Region - Global Forecast to 2021", published by MarketsandMarkets, the global market was valued at USD 4.50 Billion in 2015 and is projected to reach USD 6.20 Billion by 2021, at a CAGR of 5.6% from 2016 to 2021.
Browse 117 market data Tables and 56 Figures spread through 173 Pages and in-depth TOC on "Release Coatings Market"
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The market is driven by the increased demand for release coatings from various applications, such as labels, tapes, hygiene, industrial, medical, and food & bakery. The labels application segment led the global release coatings market, in terms of value, in 2015.
The labels segment is estimated to be the largest application segment of the global release coatings market
Among various applications, the labels segment is estimated to be the largest application segment of the global release coatings market. Release coatings offer various advantages in both primary and secondary label markets. High tensile and tear strength properties minimize web breaks during high-speed applications. Release film liners offer clarity, tight caliper control, gloss surface, and stiffness for different types of labels, such as VIP and business labels, functional and security labels, and printer and copier labels.
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The silicone segment is projected to be the fastest-growing material segment of the global release coatings market
The silicone segment is projected to be the fastest-growing material segment of the market between 2016 and 2021. Silicone-based release coatings are used in several consumer and industrial applications, such as postage stamps, envelopes, and bar code labels. Silicone, as additives, helps provide resistance to slip, moisture, and abrasion; improved adhesion; anti-blocking properties; gloss; and foam control; among several other benefits. These benefits enhance the popularity of silicone materials. The inexpensive nature of silicone-based release coatings is a major factor driving the growth of this segment in the global release coatings market.
Rising demand for release coatings in Asia-Pacific contributes to the high growth of this market
In 2015, the Asia-Pacific region accounted for the largest share of the global release coatings market; this market in the Asia-Pacific region is expected to grow at the highest CAGR between 2016 and 2021. Currently, China is the largest market for release coatings in the Asia-Pacific region, and is expected to continue its dominance till 2021. In China and India, the demand for release coatings is anticipated to increase due to the growing hygiene industry and rapid economic expansion. Additionally, growing population in these countries presents a huge customer base for manufacturers of release coatings. Increased usage of release coatings in various applications such as industrial, tapes, labels, and medical are instrumental to the growth of this market in the Asia-Pacific region.
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Key companies profiled in the global release coatings market research report include Dow Corning Corporation (U.S.), Wacker Chemie AG (Germany), Momentive Performance Materials Inc. (U.S.), Evonik Industries AG (Germany), Shin-Etsu Chemicals Co., Ltd. (Japan), OMNOVA Solutions Inc. (U.S.), Mayzo Inc. (U.S.), Product Release Europe Limited (U.K.), and Rayven, Inc. (U.S.).
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