The expanding construction industry in India is generating huge demand for concrete bricks that employ high volumes of mold release agents. Growth in the construction sector is also supported by government initiatives, such as the ‘Housing for All’ and the ‘Smart City Mission’. Due to this factor, the Indian mold release agents market is set to increase its revenue from $114.6 million in 2018 to $153.9 million by 2024, demonstrating at a CAGR of 5.2% during the forecast period of 2019–2024.
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Mold release agents are largely applied in the processing of polyurethane due to the surging demand for polyurethane-based products from several industries, such as construction, automobile, and footwear. The manufacture of polyurethane-based products requires mold release agents because of their ability to facilitate smooth release and to prevent the adhesion of the products to their mold. Other areas of application of mold release agents include production of wood and fiber composites, uncured rubber, concrete, tire, plastic, ferrous and non-ferrous die casting, and rubber and other elastomers.
To cater to the demand for mold release agents, the Indian market has the presence of both international and domestic players. Chem-Trend L.P. is the leading company in India, as it caters to a wide range of industries, such as mining, aerospace, construction, and automotive and transportation. It manufactures several types of mold release agents that are used to release rubber, composites, tires, wood composites, polyurethane, thermoplastics, and die casts from various molds. Other producers in India include 3M India Ltd., Fosroc International Ltd., BuildCore Chemicals, Dow Inc., Wacker Chemie AG, TAG Chemicals GmbH, and Chem-Verse Consultants (India) Private Ltd.
Thus, the widening application of mold release agents in India will generate high-volume demand for mold release agents in coming years.
