LONDON, Feb. 6, 2017 /PRNewswire/ -- "Release coatings market to grow at a CAGR of 5.6% (2016-2021)"
The global release coatings market is projected to reach USD 6.20 billion by 2021, at a CAGR of 5.6% between 2016 and 2021. Increased demand for water-based coatings and emergence of digital label printing technology act as key driving factors influencing the growth of the global release coatings market. However, differences in release control that may result in the failure of release coatings act as a restraint to the growth of the market.
"Medical to be the fastest-growing application segment"
The medical segment is estimated to be the fastest-growing application segment of the global release coatings market. Release coatings are widely utilized in various medical applications, such as analytical and surgical instruments as well as packaging of healthcare products. Release coatings are particularly useful with implantable instruments, such as orthopedic and respiratory devices, due to their low friction qualities and ease of insertion. Factors contributing to the growth of the medical application segment in this market include increasing population, growing income level of consumers, high growth in the implantable device market, and increasing demand for single-use disposable products.
"Silicone to be fastest-growing material segment of the global release coatings market"
Based on material, the silicone segment is projected to grow at the highest CAGR between 2016 and 2021. The inexpensive nature of silicone-based release coatings is a major factor driving the growth of this segment. Silicone, as additives, helps provide resistance to slip, moisture, and abrasion; improved adhesion; anti-blocking properties; gloss; and foam control; among several other benefits. In addition, various characteristics of silicone-based materials increase the durability of coatings.
"Asia-Pacific to be the largest and the fastest-growing market for release coatings"
Asia-Pacific is projected to be the largest as well as the fastest-growing market for release coatings. The release coatings market in this region is expected to register the highest growth, owing to high demand for release coatings from countries, such as Japan, China, and India. China is estimated to be the largest market for release coatings in the Asia-Pacific region, followed by India and Japan.
However, India and Taiwan are projected to be the fastest-growing markets for release coatings in the Asia-Pacific region. Growth of prominent industries such as consumer durables, packaging, and manufacturing has increased the demand for release coatings in this region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type: Tier 1 – 50%, Tier 2 – 37%, and Others – 13%
- By Designation: C Level – 46%, Director Level – 31%, and Others – 23%
- By Region: North America – 33%, Europe – 28%, Asia-Pacific – 22%, Middle East & Africa – 11%, and South America – 6%
The companies profiled in this market research report are 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.).
This research report categorizes the global release coatings market on the basis of material, formulation, application, and region. The report includes detailed information regarding major factors influencing the growth of the global release coatings market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of key industry players has been done to provide insights on business overview, products & services, key strategies, investments & expansions, mergers & acquisitions, and other recent developments associated with the market.
Reasons to buy the report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global release coatings market comprehensively and provides the closest approximations of market sizes for the overall market and its subsegments across regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will also help stakeholders understand major competitors and gain insights to enhance their competitive position in the market. The competitive landscape section includes information on expansions, new product developments, and agreements.
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