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Release Agents Global Market Report 2024 - By Size, Share, Demand And Industry Report, Forecast To 2033
Release Agents Market
As per the report, the release agents market size has grown strongly in recent years. It will grow from $1 billion in 2023 to $1.06 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The release agents market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
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Rise In The Bakery And Confectionery Industries Drives Release Agents Market Growth
The rise in the bakery and confectionery industries is expected to propel the growth of the release agents market going forward. The bakery and confectionery industries encompass the production and sale of baked goods, such as bread, pastries, cakes, candies, and other sweet treats. The expansion of the food service industry, including cafes, restaurants, and quick-service restaurants, has increased demand for bakery and confectionery products. Release agents are commonly employed in bakery operations to prevent baked goods from sticking to baking surfaces, facilitating easy removal and maintaining product integrity. For instance, in February 2024, according to the Government of Canada, a Canada-based body responsible for the federal administration, the retail sales of baked goods in the United States (U.S.) saw a compound annual growth rate (CAGR) of 5.9%, reaching US$82.9 billion in 2022, with projections indicating a CAGR of 3.1% from 2023 to 2027, with an anticipated value of US$97.7 billion by 2026. Therefore, the rise in the bakery and confectionery industries is driving the growth of the release agents market.
Innovative Solutions Driving Growth In The Release Agent Market
Major companies operating in the release agent market are increasing their focus on developing innovative solutions, such as water-based release agents, to gain a competitive edge in the market. Water-based release agents are substances used in various industrial processes, particularly molding and casting operations, to prevent the adhesion of materials to molds or equipment surfaces. For instance, in January 2021, Chem-Trend, a US-based chemical company, launched Chemlease 2754W, a new sustainable release agent. This is a semi-permanent, water-based release agent designed for composite molding of various thermosets, including polyester, vinyl ester, epoxy, and phenolic resins in bulk molding compound (BMC), sheet molding compound (SMC), prepreg, and cast form. It offers minimal transfer of release agent and high-temperature stability and can be used for multiple releases. Chemlease 2754W can be applied to molds with varying temperatures, and there's no need to let the mold cool down, as is often required with other release agents.
The release agents market covered in this report is segmented -
1) By Product: Emulsifiers, Vegetable Oils, Antioxidants, Wax And Wax Esters
2) By Form: Liquid, Solid
3) By Sales Channel: Direct Sales And Wholesalers, Independent Grocery Retailer, Non-Store Retailers, Other Sales Channels
4) By Application: Bakery, Confectionery, Processed Meat, Convenience Food, Other Applications
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Major companies operating in the release agents market are BASF SE, DuPont de Nemours Inc., Daikin Industries, Henkel AG, Shin-Etsu Chemical Co. Ltd., Evonik Industries AG, AkzoNobel N.V., Wacker Chemie AG, Clariant AG, Croda International plc, Lord Corporation, Momentive Performance Materials, Michelman Inc., Chem-Trend L.P., Stoner Inc., AFT Fluorotec Ltd, MÜNZING Chemie GmbH, Rexco, Axel Plastics Research Laboratories Inc., Miller-Stephenson Chemical Co., McLube, Franklynn Industries Limited, Münch Chemie International GmbH, Marbo America Inc, Cresset Chemical Co
Contents of the report:
1. Executive Summary
2. Release Agents Market Report Structure
3. Release Agents Market Trends And Strategies
4. Release Agents Market - Macro Economic Scenario
5. Release Agents Market Size And Growth
…..
27. Release Agents Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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