Release Coatings Market - Forecast(2023 - 2028)

Report Code: CMR 28444 Report Format: PDF + Excel

Release Coatings Market Overview

The Release Coatings Market size is projected to grow at a CAGR of 6.2% during the forecast period 2022-2027 and reach US$229.5 million by 2027. Release coatings are significant components of pressure-sensitive adhesive (PSA) products such as tapes and labels. Release Coatings are categorized into various types which include siloxane (silicone), acrylate, fluoropolymer and more. They are primarily used in a wide range of industries including building & construction, medical & hygiene, packaging, food industry and other industries. The expansion of release coatings is primarily driven by their usage in the construction industry. For instance, according to recent insights from the World Cement, the global construction industry output increased by 5.7% in 2021. An increase in construction activities along with the growth of the healthcare industry is expected to drive the growth of the release coatings market size in the upcoming years. In 2020, the surge in the COVID-19 pandemic negatively impacted construction activities as a result of the country-wide shutdown of construction sites, thus, temporarily affecting the growth of the release coatings industry. However, a steady recovery in new development and construction contracts has been witnessed across many countries around the world since 2021, which in turn, is driving the demand for release coatings.

Release Coatings Market Report Coverage

The "Release Coatings Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Release Coatings Market.

By Type: Siloxane (Silicone), Acrylate, Fluoropolymer (Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Polyphenylene Sulfide (PPS), Xylan, Others) and Others.
By Coating Technology: Water-based, Solvent-based, Powder-based and UV Curable.
By Application: Thermal Transfer and Direct Thermal Labels, Durable and Wine Labels, Graphics and Fleet Marking Signage, Rolled Roofing and Shingle Release Liners, Casting Sheet Release Liners, Bakery Paper Release Liners, Hygienic Release Liners, Pressure Sensitive Adhesive (PSA) Tapes and Others.
By End-use Industry: Automotive (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicles), Electrical & Electronics (Semiconductor, Appliances, Others), Building & Construction (Residential, Commercial, Industrial), Healthcare (Medical (Medical Devices, Drug Delivery, Pharmaceutical Packaging, Fixation, Surgical & Wound Care, Others), Medical Hygiene Products), Food Industry and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Denmark, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of Africa)].

Key Takeaways

  • Water-based coating technology held the largest share in the Release Coatings Market in 2021, owing to its increasing demand and benefits such as low VOC (volatile organic compounds) and HAP (hazardous air pollutant) levels over other types of coating technology.
  • Building & Construction industry held a significant share in the Release Coatings Market in 2021, owing to the increasing demand for release coatings from the construction sector across the world. For instance, in October 2021, the MoC (Ministry of Construction) of Vietnam proposed around 266 residential housing projects across the country which are scheduled to be completed from 2022 to 2025.
  • Asia-Pacific dominated the Release Coatings Market in 2021, owing to its increasing demand from the industrial sectors such as construction & healthcare sectors in the region.
  • A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Release Coatings Market Report.

Figure: Release Coatings Market Revenue Share, By Geography, 2021 (%)

Release Coatings Market

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Release Coatings Market Segment Analysis – by Coating Technology

The water-based coating technology held the largest Release Coatings Market share of over 25% in 2021, owing to a range of advantages they offer over other types of coating technology. Water-based coatings are surface coatings that contain 80% water and a small number of other solvents such as polyvinyl ether and glycol. It offers a wide range of properties and benefits such as excellent adhesion properties, good resistance to heat and abrasion, along with anti-corrosion properties in comparison to solvent-based and other types of coatings. Moreover, water-based coatings are environment friendly due to low VOC (Volatile Organic Compounds) and HAP (Hazardous Air Pollutant) levels which makes them less toxic and flammable in comparison to solvent-borne and other coating technology. Hence, all of these benefits of water-based coatings are driving its demand for use in release coatings as compared to other types of coating technology, which in turn, is expected to boost the market growth during the forecast period.

Release Coatings Market Segment Analysis – by End-use Industry

The building & construction industry held a significant Release Coatings Market share of over 18% in 2021, owing to the increase in construction activities across the world. For instance, in October 2021, the Ministry of Construction of Vietnam proposed VND 30 trillion (US$1.3 billion) credit package to build low-cost residential homes for workers. Likewise, another 278 building construction projects including 276,000 units with a total area of 13.8 million square meters are currently under development in Vietnam. All of these projects are scheduled to begin in 2022 and be completed by the end of 2025. Furthermore, recent insights from Construct Connect state that the U.S. government has funded around US$20 billion for the construction of a real estate and development project called One Central project in Chicago. The project is under the schematic design phase and currently undergoing construction in 2022.

Release Coatings Market Segment Analysis – by Geography

Asia-Pacific held a dominant Release Coatings Market share of around 44.7% in the year 2021. The consumption of release coatings is particularly high in this region due to its increasing demand from the industrial sectors such as the construction & healthcare sectors in the region. For instance, the government of China approved 695 building and construction projects with a total investment of 3 trillion yuan (US$471 billion) in January 2022. Moreover, recent insights from Invest India state that there are around 115 future construction projects that are currently under the planning phase in India in 2022. The total investment in these construction projects is around US$11.63 million. It includes the construction of hotels, shopping complexes, office buildings and more. Furthermore, according to the India Brand Equity Foundation (IBEF), in Union Budget 2022-2023, INR 86,200.65 crore (US$11.28 billion) was allocated to the Ministry of Health and Family Welfare (MoHFW) with the aim of improving the country’s healthcare sectors along with its facilities, products and services. This is anticipated to propel the growth of the market during the forecast period.

Release Coatings Market Drivers

An increase in construction activities

Construction activities are considered to be the pillar of growth for a country and also play a major role in increasing the overall global economy. The factors such as urbanization and the rapid pace of development to aid the economic growth of the countries are driving the construction activities in multiple regions across the world. For instance, according to Volvo CE, the construction sector saw an increase in construction activities across multiple regions since the fourth quarter of 2020. South America saw an increase of 12%, Asia by 39%, Europe by 20% and China by 28% in 2020. Furthermore, YIT Corporation commenced the construction of numerous residential apartment building projects in Finland, the CEE countries and Russia in December 2021, with total investments of around EUR 200 million (US$236.5 million). The projects are scheduled to be completed by the end of 2023. This is anticipated to drive the growth of the market in the upcoming years.

Growth of the healthcare industry

Release coatings are commonly used in the healthcare industry for multiple applications involving drug delivery, pharmaceutical packaging, medical devices such as medical sensors & electrodes, point of care/diagnostic devices and more, along with consumer healthcare products such as eye patches, first aid bandages & tape, hygiene products and other similar applications. According to the International Trade Administration (ITA), the Mexican medical device market was valued at US$16.80 billion in 2020, representing a significant increase of 10% in comparison to US$15.27 billion in 2019. Moreover, the medical device market in Canada was valued at around US$8.6 billion in 2020. Furthermore, according to Vietnam’s Ministry of Health, the pharmaceutical industry is expected to grow at a rate of 10% per year from 2017 to 2028, owing to an increase in pharmaceutical production and sales in the country. Recent insights from the Indian Economic Survey 2021 state that the Indian domestic pharmaceutical industry is estimated to grow threefold in the next decade. Hence, such surging growth of the healthcare industry is expected to increase the demand for release coatings, owing to its above-mentioned usage. This is expected to accelerate the growth of the market in the upcoming years.

Release Coatings Market Challenge

Fluctuating prices of raw materials may confine the market growth

Some of the raw materials for release coatings are obtained from crude oil. As a result, fluctuations in the prices of crude oil may hinder the growth of the market. For instance, in 2020, the international benchmark for petroleum prices across the world also known as Brent crude prices decreased to US$9.12 per barrel, which was the lowest record since December 10, 1998. Likewise, in April 2020, India’s Crude Oil Basket (COB) reached US$19.90 per barrel, which was the lowest record since February 2002. During the first 11 months of the year 2020-21, the average annual price of India’s COB was around US$42.72 per barrel, which decreased by 30% more than the average COB price in 2019-20. Furthermore, as per revised estimates for 2020-21, the COB has increased by around 35% from its initial budget estimate. In this way, such uncertainty regarding the price of crude oil may affect the prices of raw materials that are used in the production of release coatings. Thus, such instability and fluctuating prices of raw materials may limit the growth of the release coatings industry during the forecast period.

Release Coatings Industry Outlook

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Release Coatings Market. The top 10 companies in the Release Coatings Market are:

  1. Dow
  2. Wacker Chemie AG
  3. Momentive Performance Materials Inc.
  4. Elkem
  5. Evonik Industries AG
  6. Shin-Etsu Chemical Co. Ltd.
  7. Omnova Solutions Inc.
  8. Mayzo
  9. Rayven Inc.
  10. Product Release Europe Ltd.

Recent Development

  • In December 2021, Evonik launched its new release coating, TEGO RC 1442. The newly launched release coating is primarily designed for fast-curing pressure-sensitive adhesive (PSA) applications. It offers excellent anchorage to substrates while delivering stable release values over time, even under humid storage conditions.

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1. Release Coatings Market - Market Overview
    1.1 Definitions and Scope
2. Release Coatings Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Coating Technology
    2.3 Key Trends by Application
    2.4 Key Trends by End-use Industry
    2.5 Key Trends by Geography
3. Release Coatings Market – Comparative analysis
    3.1 Market Share Analysis - Major Companies
    3.2 Product Benchmarking - Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis - Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Release Coatings Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Release Coatings Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Release Coatings Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Release Coatings Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Release Coatings Market – by Type (Market Size - US$ Million/Billion)
    8.1 Siloxane (Silicone)
    8.2 Acrylate
    8.3 Fluoropolymer
        8.3.1 Polytetrafluoroethylene (PTFE)
        8.3.2 Fluorinated Ethylene Propylene (FEP)
        8.3.3 Polyphenylene Sulfide (PPS)
        8.3.4 Xylan
        8.3.5 Others
    8.4 Others
9. Release Coatings Market – by Coating Technology (Market Size - US$ Million/Billion)
    9.1 Water-based
    9.2 Solvent-based
    9.3 Powder-based
    9.4 UV Curable
10. Release Coatings Market – by Application (Market Size - US$ Million/Billion)
    10.1 Thermal Transfer and Direct Thermal Labels
    10.2 Durable and Wine Labels
    10.3 Graphics and Fleet Marking Signage
    10.4 Rolled Roofing and Shingle Release Liners
    10.5 Casting Sheet Release Liners
    10.6 Bakery Paper Release Liners
    10.7 Hygienic Release Liners
    10.8 Pressure Sensitive Adhesive (PSA) Tapes
    10.9 Others
11. Release Coatings Market – by End-use Industry (Market Size - US$ Million/Billion)
    11.1 Automotive
        11.1.1 Passenger Car
        11.1.2 Light Commercial Vehicle
        11.1.3 Heavy Commercial Vehicles
    11.2 Electrical & Electronics
        11.2.1 Semiconductor
        11.2.2 Appliances
        11.2.3 Others
    11.3 Building & Construction
        11.3.1 Residential
        11.3.2 Commercial
        11.3.3 Industrial
    11.4 Healthcare
        11.4.1 Medical
        11.4.1 Medical Devices
        11.4.2 Drug Delivery
        11.4.3 Pharmaceutical Packaging
        11.4.4 Fixation, Surgical & Wound Care
        11.4.5 Others
        11.4.6 Medical Hygiene Products
    11.5 Food Industry
    11.6 Others
12. Release Coatings Market - By Geography (Market Size - US$ Million/Billion)
    12.1 North America
        12.1.1 the USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 the UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 the Netherlands
        12.2.6 Spain
        12.2.7 Denmark
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 the Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Release Coatings Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Release Coatings Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Geography - Major companies
    14.4 Market Share at Country Level - Major companies
    14.5 Market Share by Key Crop Type/Product category - Major companies
15. Release Coatings Market – Key Company List by Country Premium Premium
16. Release Coatings Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
* "Financials would be provided to private companies on best-efforts basis."
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LIST OF TABLES

LIST OF FIGURES

1.US Release Coatings Market Revenue, 2019-2024 ($M)
2.Canada Release Coatings Market Revenue, 2019-2024 ($M)
3.Mexico Release Coatings Market Revenue, 2019-2024 ($M)
4.Brazil Release Coatings Market Revenue, 2019-2024 ($M)
5.Argentina Release Coatings Market Revenue, 2019-2024 ($M)
6.Peru Release Coatings Market Revenue, 2019-2024 ($M)
7.Colombia Release Coatings Market Revenue, 2019-2024 ($M)
8.Chile Release Coatings Market Revenue, 2019-2024 ($M)
9.Rest of South America Release Coatings Market Revenue, 2019-2024 ($M)
10.UK Release Coatings Market Revenue, 2019-2024 ($M)
11.Germany Release Coatings Market Revenue, 2019-2024 ($M)
12.France Release Coatings Market Revenue, 2019-2024 ($M)
13.Italy Release Coatings Market Revenue, 2019-2024 ($M)
14.Spain Release Coatings Market Revenue, 2019-2024 ($M)
15.Rest of Europe Release Coatings Market Revenue, 2019-2024 ($M)
16.China Release Coatings Market Revenue, 2019-2024 ($M)
17.India Release Coatings Market Revenue, 2019-2024 ($M)
18.Japan Release Coatings Market Revenue, 2019-2024 ($M)
19.South Korea Release Coatings Market Revenue, 2019-2024 ($M)
20.South Africa Release Coatings Market Revenue, 2019-2024 ($M)
21.North America Release Coatings By Application
22.South America Release Coatings By Application
23.Europe Release Coatings By Application
24.APAC Release Coatings By Application
25.MENA Release Coatings By Application
26.DOW Corning Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Wacker Chemie AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Momentive Performance Materials Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Evonik Industries AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Shin-ETSU Chemical Company Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Omnova Solutions Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Mayzo Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Rayven Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Hitac Adhesives & Coatings Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)