Aluminum Die Casting Mold Release Agents Market size was over USD 352.06 million in 2023 and is expected to reach USD 7.23 Billion by the end of 2036, witnessing around 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aluminum die casting mold release agents is evaluated at USD 5.60 Billion.
The increasing focus on harmless environmental solutions is a notable development in the market. As manufacturers become more aware of environmental issues, they are actively seeking alternatives having negligible impact on the environment. As a result, water and bio-based molding solvents have been developed and used. According to the report in Nov 2021, the chemical industry consumes more than 10% of fossil fuels across the world and releases around 3.3 gigatons of greenhouse gases annually.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.2 % |
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Base Year Market Size (2023) |
USD 352.06 Million |
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Forecast Year Market Size (2036) |
USD 7.23 Billion |
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Regional Scope |
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Type (Water-based, Solvent-based)
Water-based segment in the aluminum die casting mold release agents market is expected to grow at more than 60% CAGR through 2036. These agents are formed by mixing water and active ingredients, the mixture created is less harmful, and non-toxic in nature as it releases fewer VOCs. Water-based solvents are simple to use and are cost-effective as they have a longer shelf life.
These agents are less expensive to transport and meet the majority of plant safety regulations. According to the latest report, there are 9585 import and export shipments globally of mold release agents in 2024. There are 1308 buyers and 1190 suppliers of mold release agents across the world. s
Application (Industrial Equipment, Electricals & Electronics, Automotive Components)
Application segment is predicted to hold over 40% aluminum die casting mold release agents market share by the end of 2036. The agents are used in several parts such as engines, structural parts, and chassis in the automotive sector. These agents ensure heat stability, reduce residual waste, and result in the smooth and efficient casting of aluminum components.
Industrial machinery manufacturers are also dependent on these agents to obtain high-quality casting for the types of equipment such as aluminum air battery used to increase energy density. Growth in the automotive components sector worldwide is set to drive the segment growth segment in the forecast period. According to the latest report published by the European Automobile Manufacturers Association, the total sales of new cars increased by 10% in 2023 after remaining stable in 2022 across the globe.
Our in-depth analysis of the market includes the following segments:
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Type |
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Application |
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North American Market Statistics
North America in aluminum die casting mold release agents market is expected to account for more than 35% revenue share by the end of 2036. The market growth in the region is also expected on account of the increasing adoption of automation and intelligent manufacturing techniques.
The aim of these techniques is to create safer, effective, and harmless products. There are various sectors such as aerospace, automotive, and electronics that require highly accurate die castings due to which advanced manufacturing technologies are introduced in the region. The research and development sector focusing on technological advancements in the country is impacting the demand for aluminum die casting mold release agents that are compatible with these advanced systems.
The aluminum die casting mold release agents industry is growing significantly in the United States due to the growing rate of production and demand for aluminum-related products in different sectors. According to the Aluminum Association, the demand for aluminum in the United States and Canada (shipments by domestic producers along with imports) increased by 4.8% resulted in around USD 27.5 billion in 2022.
In Canada, various automotive manufacturers are using aluminum components and replacing steel components, which is leading to a higher demand for aluminum die casting mold release agents.
APAC Market Analysis
The Asia Pacific region will also encounter huge growth for the aluminum die casting mold release agents market by 2036 and will hold the second position owing to population growth and urbanization. According to the United Nations Population Fund, 60% of the world’s population, or around 4.3 billion people live in the Asia Pacific region. Additionally, growing demand for smart cities, various industrial regulations, and global demand for die casting products are driving the growth of the APAC market.
The increasing demand for residential and commercial buildings in China along with the automobile sector is responsible for the market growth of aluminum die casting mold release agents. According to the latest report, the annual construction of commercial properties in China come to around 81.55 million square meters in 2022.
Growing demand for aluminum die casting agents in various sectors such as electronics, and increased production and sales of automotive vehicles in Korea are the reasons behind the development of the market. As per a recent report, there were 438 export and import shipments of die casting aluminum in South Korea, which are exported by 73 exporters to 85 buyers.
The major players in the aluminum die casting mold release agents market are offering high-performance and environment-safe casting molds which provide for sustainability, reliability, efficiency, and cost savings. These companies are developing and delivering aluminum die castings which are used in the automobile industry.
Author Credits: Rajrani Baghel
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