Leaders in the chemical industry need to take a paradigm shift from traditional business practices and adapt to digitization. While digital advances have face-lifted each industrial domain, the chemicals industry is still reluctant to completely adapt to the new transformational technology-driven landscape.
Global release coating sales are projected to witness promising growth as most of the basic application segments hold potential to expand further. Demand from labels & tapes, hygiene, and other sectors is following an upward curve. Due to their low surface tension, less roughness, high flexibility, and unique processing advantages, silicone release coatings are highly sought-after across geographies.
While the industrial sector got battered by the COVID-19 pandemic earlier in 2020, it’s on its way to recovery, and expected to pave new paths for release coating manufacturers. As per the findings by Fact.MR’s study, recovery in the industrial sector will be a major driving factor for release coating sales in 2021.With the commencement of vaccination and adoption of the ‘new normal’, players in the release coatings industry are optimistic of coming across new opportunities. According to Fact.MR, the global release coatings market is anticipated to expand at close to 4.5% CAGR during the forecast period of 2021 to 2031.
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“Rise in demand for silicone release coatings coupled with manufacturers targeting key applications such as tapes and labels, hygiene products, and medical devices is set to raise the market value of release coatings over the coming years,”says a Fact.MR analyst.
Key Takeaways from Study
- Silicone material continues to be a top-selling category
- High requirement from tapes & labels and hygiene products to fuel sales
- China to remain at the forefront of the world’s largest release coatings market – Asia Pacific
- The United States to emerge dominant in North America for release coatings
- Germany to take the spotlight in Europe regarding sales of release coatings
- The United Kingdom, France, Japan, and Canada, to emerge lucrative for stakeholders in the release coatings industry
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Fact.MR’s research study assesses the global release coatings market in terms of application, material, and region. This report presents extensive market dynamics and trends associated with different segments of the market, and their influence on the growth prospects of the market.
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Key Questions Answered in Report
- Which are the most lucrative markets for release coatings?
- Which factors will impact demand for release coatings?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the release coatings market?
- What are the winning strategies of stakeholders in the release coatings landscape?
Advancements in Medical Sector Remain Key to Market Growth
With advancements in the medical sector and growing investments by key players, sales of release coatings are expected to witness steady growth over the coming years. As stated in a report titled “Medical Technology Spotlight- The Medical Technology Industry in the United States”, published by the Select USA, the United States is the largest medical device market in the world with an estimated value of US$ 156 billion, which is 40% of the global devices market as in 2017. As per the report, the U.S. medical devices industry is expected to grow to US$ 208 billion by 2023. Though manufacturing units suffered a temporary setback due to the onset of COVID-19 in 2020, the sector holds high potential to exhibit impressive growth. These figures give a glimpse of the growing opportunities for release coating suppliers across the globe.
Increasing Requirement from Hygiene Sector Fuelling Sales of Release Coatings
Release coatings are extensively used in a wide variety of hygiene and personal care products. For instance,
- Smooth and easy release force of release coatings guarantees noiseless manipulation of sanitary napkins
- Excellent anchorage of release coatings for machine-finished craft paper or non-wovens makes them highly efficient in hygiene products
As a result, surge in demand from the hygiene sector is driving sales of release coatings. According to a report titled “Cosmetics and Personal Care Industry Overview”, published by the Cosmetics Europe, the personal care association, valued at EUR 79.8 billion at retail sales price in 2019, the European cosmetics, hygiene, and personal care industry is largest in the world. As stated in the report, it is estimated that this industry brings at least EUR 29 billion in added value to the European economy annually.
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