Increasing Construction Activities Driving Indian Mold Release Agents Market Growth

Due to the surging construction activities and the increasing requirement for die casting for manufacturing automotive components, the Indian mold release agents market is exhibiting huge expansion. According to the forecast of the market research company, P&S Intelligence, the market revenue will rise from $114.6 million in 2018 to more than $153.9 million by 2024. Furthermore, the market is expected to progress at a CAGR of 5.2% from 2019 to 2024.

Due to the increasing urbanization rate and booming population, the Indian government is making huge investments in infrastructural development and construction projects. For example, the government is launching initiatives such as Housing for All and Smart City Mission. Additionally, as per the Union Budget 2019–2020, the Ministry of Road Transport and Highways received investments worth $15.48 billion (INR 1.12 trillion) from the government.

These funds will be used for constructing highways and roads in the country. The launch of such construction projects is driving the demand for mold release agents in India, as these materials are extensively used in concrete bricks. Apart from the surging construction industry, the expansion of the electrical and electronics industry, on account of the soaring disposable income of people, is also creating lucrative growth opportunities for the players operating in the Indian mold release agents market. 

As a result, the enactment of strict regulations regarding VOC emissions is fueling the demand for these mold release agents in the country. When application is taken into consideration, the Indian mold release agents market is classified into wood and fiber composites, polyurethane processing, concrete, uncured rubber, tire, rubber and other elastomers, plastic, and die-casting (ferrous and non-ferrous). Out of these, the polyurethane processing category dominated the market in 2018. This is attributed to the high requirement for polyurethane-based components in industries such as construction, footwear, and automotive. 

In the forthcoming years, the concrete category will expand massively in the Indian mold release agents market. This will be because of the surging usage of concrete blocks for constructing high-rise commercial and residential buildings in the country. Concrete construction applications are expected to generate huge demand for these agents in the country in the upcoming years. This is because mold release agents enable faster release of concrete materials from various molds and assist in maintaining the texture of the concrete bricks without causing any damage during the release of the brick from the mold. 

Hence, it is safe to say that the sales of mold release agents will explode in India in the coming years, mainly because of the surging construction and infrastructural development activities and the booming electrical and electronics industry in the country.

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