New Jersey, NJ, Jan. 21, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global release agents market is expected to grow from USD 912.76 million in 2018 to USD 1,574.33 million by 2026 at a CAGR of 5.49% during the forecast period 2019-2026. The key contributing factors for the market growth are high consumption of release agents in the baking products, growing demand for natural sources of ingredients, and rising consumer awareness & health concerns.
Release agents are also known as release coating or mold release coating. These are chemical substances, applied to a surface to prevent it from bonding to surface. These agents are used in various products to prevent it from sticking on to the equipments, mold, machines, and packaging materials. It provides advantages such as high productivity, high cycle times, extend tool/die/mold life, improve manufacturing efficiency, reduce cost, improves quality, and other benefits. It is widely used in bakery products, confectionery products, processed meat, and other applications. For instance, in 2015, Sasco opened a release agent production facility in Albany, Georgia and has expanded its business in the wood release agents market over the past several years by leveraging its core competencies around anti-tack products primarily sold in the rubber industry.
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Global Release Agents Market Key Findings:
- High consumption of release agents in the baking products, growing demand for natural sources of ingredients, and rising consumer awareness & health concerns are the key driving factors for the release agents market. The international regulations governing the use of release agents in food and increasing raw material prices may limit the growth of the market.
- However, growing demand from emerging markets is expected to boost the release agents market over the forecast period. The approval from various regulatory bodies as well as rising prices of raw materials such as vegetable oils is the major challenge for the global release agents market.
- Ingredient segment covers emulsifiers, vegetable oils, wax & wax esters, antioxidants, and other ingredients. The vegetable oils segment dominated the global release agents market with the highest share of 34.18% in 2018 due to demand for non-hydrogenated vegetable oils. The vegetable oils reduces the amount of concrete residue and is eco-friendly.
- Form segment is divided into liquid and solid. The liquid segment holds the highest market share of 56.48% in 2018 owing to its bakery and confectionery applications. The liquid form of release agents are can be easily applied directly to the surface of the mold, pan, or machine, making it the more preferred form. The release agents generally come in a dry form such as lecithin, silicone, stearates or clay.
- Application segment is categorized into bakery products, confectionery products, processed meat, and other applications. The bakery products segment is anticipated to grow with the highest CAGR of 5.39% during the forecast period owing to an increasing popularity and high demand for baked products such as bread, biscuits, and cakes. The growing genetic population demanding “on-the-go” food products has increased the use of the release agents in the bakery products and this has supplemented the release agents’ market growth of the bakery products segment.
- The global release agents market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region dominated the global release agents market with USD 318.28 million in 2018 where as the Asia Pacific region held the second dominant position in the global release agents market.
- North America region is driving the release agents market due to the high demand for baked products, presence of major players in this region and high consumer awareness regarding the benefits of release agents.
- Asia Pacific is growing at a rapid growth rate due to the growth of bakery and confectionery industries in India and China and increasing health awareness.
- For instance, in 2017, Polymer Solutions Group (PSG) acquired the wood release agent product line of Michelman, Inc., a supplier of release agents to the engineered wood market. This acquisition was aimed to expand PSG’s strategic goal of growing its product portfolio of functional materials for the construction industry.
- For instance, in 2015, Chem-Trend launched a new semi-permanent and water based release agent named Zyvax TakeOff. This product was developed for aerospace manufacturer to address the moulding needs of premium aerospace composites materials. Zyvax TakeOff has enabled the use of lightweight thermoset and thermoplastic composites in aircraft bodywork and components directly.
- Key players in the release agents market are Archer Daniels Midland Company, AAK AB, Cargill, DuPont, Avatar Corporation, Par-Way Tryson Company, Associated British Foods PLC, Mallet & Company, Inc., IFC Solutions, Inc., Lecico GmbH, Lallemand, Masterol Foods Pty Ltd, Puratos Group NV, The Bakels Group, Koninklijke Zeelandia Group B.V., Dübör Groneweg GmbH & Co. Kg, Sonneveld Group BV, and others.
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All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
This study forecasts revenue growth and volume at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global release agents market on the basis of below mentioned segments:
Global Release Agents Market, By Ingredient:
- Emulsifiers
- Vegetable Oils
- Wax & Wax Esters
- Antioxidants
- Other Ingredients
Global Release Agents Market, By Form:
- Liquid
- Solid
Global Release Agents Market, By Application:
- Bakery Products
- Confectionery Products
- Processed Meat
- Other Applications
Global Release Agents Market, By Regions:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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