The Indian mold release agents market valued $114.6 million in 2018, and is expected to reach a size of $153.9 million, demonstrating a CAGR of 5.2% during the forecast period (2019–2024). On the basis of application, polyurethane processing dominated the market, with a volume share of 24.6%, in 2018.
The polyurethane processing category is expected to witness the fastest growth in terms of value and volume. During the forecast period, the category is expected to witness a volume CAGR of 4.2%. This growth of polyurethane processing in the Indian mold release agents market is majorly attributed to the high-volume demand for polyurethane-based components from industries such as automotive, footwear, and construction. The growth of the end-use industries leads to an increasing production of polyurethane-based products, which is further expected to rise during the forecast period. This would create a huge demand for mold release agents, owing to the ability to prevent the adhesion of the products to their molds and facilitate smooth release.
Shift in demand for water-based mold release agents from solvent-based agents is trending in the market
The use of water-based mold release agents is the key trend in the Indian mold release agents market currently. Water-based mold release agents consist of water as their primary component, contrary to solvent-based mold release agents, which have petroleum products as the major component. Apart from this, the high content of volatile organic compounds in solvent-based mold release agents, contrary to water-based mold release agents that consist of minimal amounts of harmful chemicals, leads to a negative impact on human health. Furthermore, cost-comparable production, technology access, and ease of production have led to the growing manufacturing of water-based mold release agents over other mold release agents.
Growth in construction sector is increasing the demand of mold release agents
The increase in the population, urbanization, and disposable income of the people of the country have led to the rapid flourishing of the Indian construction sector, which, in turn, is leading to the Indian mold release agents market growth. The heavy inflow of people in various cities is attracting more investments and resources in the residential and commercial construction sector. This has led to an increase in government infrastructure development projects for buildings, city roads and highways, railways, metros, and airports. Since concrete is the basic material used in the construction sector and mold release agents are used in concrete brick manufacturing in order to prevent the adhesion of it on the forming mold, the growing demand for concrete bricks is leading to the growth of the mold-release agents in India.
Segmentation Analysis of India Industrial Aerosol Market
On the basis of type, water-based mold release agents are witnessing the fastest growth due to the shift from solvent-based mold release agents to these agents. This is owing to improved performance metrics, comparable costs, and environment-friendly nature of the water-based mold release agents.
On the basis of application, polyurethane processing is dominating the Indian mold release agents market. The is due to the rise in the demand for polyurethane-based components from various industries, such as automotive, footwear, and construction. The production of polyurethane-based products creates a demand for mold release agents, owing to their ability to prevent the adhesion of the products to their mold and facilitate their release.
Browse report overview with detailed TOC on "India Mold Release Agents Market Research Report: By Type (Water-Based, Solvent-Based), Application (Polyurethane Processing, Wood and Fiber Composites, Concrete, Uncured Rubber, Rubber and Other Elastomers, Tire, Plastic, Die Casting) – Opportunity Analysis and Growth Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/indian-mold-release-agents-market
Competitive Landscape of India Mold Release Agents Market
The Indian mold release agents market has both domestic and international players. The major players are Fosroc International Ltd., Chem-Trend L.P., TAG Chemicals GmbH, Dow Inc., Wacker Chemie AG, BASF SE, Lanxess AG, ITW Chemin, Chem-Verse Consultants (India) Private Limited, Technomak, BuildCore Chemicals, and 3M India Ltd.
Chem-Trend L.P. held the largest Indian mold release agents market share, of 15.7%, in 2018, owing to its vast product range serving various end-use industries, which include aerospace, automotive & transportation, construction, and mining. In addition, the various mold release agents provided by the company have various application areas, where they are used to release composites, die casts, polyurethane products, rubber, tires, thermoplastics, and wood composites from various molds.
Some other important players operating in the mold release agents market in India are Trio Chemicals & Allied Products and Tuff Bond Industrial Adhesives Pvt. Ltd.
Market Segmentation by Type
Market Segmentation by Application