Release Coatings Market By Application (Tapes & Labels, Hygiene, Industrial, Medical), By Material (Silicone, Non-silicone) & Region - Forecast to 2021-2031

ROCKVILLE, Md., Feb. 15, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Release Coatings market is projected to grow at a compound annual rate (CAGR) of 4.5% between 2021 and 2031.

The demand for Release Coatings is expected to rise over the forecast period and the market is projected to grow at a CAGR of 4.5% by end of 2031.

Release coatings are extensively used in the medical industry for providing lubrication in anti-microbial liquids, in water repellent polymers, and others. Furthermore, release coatings witness high demand in developing drug-releasing coatings.

As a result, increase in requirement from the medical industry is substantially bolstering the growth of release coating manufacturers.

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According to a report titled “Global Spending on Health- A World in Transition”, published by the World Health Organization (WHO) in 2019, global health spending is transitioning fast, with a rapid increase in domestic spending, both, out-of-pocket and publicly funded, and this, in turn, is impacting the global medical industry positively.

As stated in the report, two years into the sustainable development goals era, global spending on health continues to rise - it was US$ 7.8 trillion in 2017, or about 10% of Gross Domestic Product (GDP) and US$ 1,080 per capita - up from US$ 7.6 trillion in 2016. This points towards the upcoming opportunities awaiting players dealing in release coatings.

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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Key Segments Covered in the Release Coatings Industry Survey

Application

• Tapes and Labels
• Hygiene
• Industrial
• Medical
• Other Applications
  

Material

• Silicone
• Non-silicone

Region

• North America
• Latin America
• Europe
• Middle East and Africa (MEA)
• East Asia
• South Asia
• Oceania
  

Competitive Landscape
The global release coatings market is gradually getting more competitive, while thriving on key players. In order to capitalize on the high market potential, key market players are focusing on quality and quantity of products. For instance,

• Rayven, Inc. launched its new extensive range of release coatings and liners such as Biaxially Oriented Polypropylene Release Liners, High Density Polyethylene Release Liners, and others, during the last 5 years.
  
  
• Mayzo, Inc. launched its new range of non-silicone release coatings for pressure sensitive and self-adhesive substrates such as PE, PP, PET, PVC, Cloth, Foil, and Paper, a couple of years back.
  

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Key players in the Release Coatings Market

• Abbott Laboratories
• DowDupont Inc.
• Evonik Industries AG
• Hitac Adhesives and Coatings Inc.
• Mayzo, Inc.
• Momentive Performance Materials, Inc.
• Omnova Solutions, Inc.
  

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

“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.

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