Market Overview The market for non-stick coatings is expected to witness a CAGR of over 5. 75% during the forecast period. One of the major factors driving the market studied is the increasing demand for non-stick cookware.
New York, Feb. 26, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Non-stick Coatings Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05865756/?utm_source=GNW
However, increasing alternatives for Teflon coatings are likely to restrain the market.
- The growing use of UV cured sol-gel coatings is also likely to boost the demand for non-stick coatings during the forecast period.
- Growing demand for sol-gel coatings is likely to act as an opportunity for market growth in the future.
- Asia-Pacific dominated the non-stick coatings market across the globe, and it is likely to witness a high growth rate during the forecast period.
Key Market Trends
Industrial Machinery Application to Witness a Major Growth Rate
-Non-stick coatings (also known as release coatings and dry film lubricants) provide many advantages to a wide variety of industries. The application of dry film lubricants offers design versatility when traditional lubrication is not feasible.
-The benefits of using non-stick coatings are that they offer a reduced coefficient of friction, the elimination or reduction of noise, as well as ensuring component functionality when it has been idle for extended periods of time.
-Many of these non-stick coatings are FDA acceptable and include such fluoropolymers as PTFE and FEP suspended in a high-performance resin. These coatings are used for various machine parts, such as gears, bearings, joints, slide plates, bushings, O-rings, pipe linings, saw blades, etc.
-Non-stick coatings are applied to various derivatives in industrial applications, like concrete, carbon steel, stainless steel, steel alloys, brass, zinc, magnesium, and other metals, as well as for non-metallic, such as glass, ceramics, elastomers, rubber, plastics, paper, and wood.
-The industry machinery involved in the production of automotive and the transportation OEM is also a significant demand puller for the non-stick coatings market.
-In addition, the industrial machinery is expected to witness the fastest growth among all other application segments, owing to the support from the oil and gas and molding machinery markets.
-Thus the increasing demand from various sectors is in turn likely to have a positive impact on the market studied.
Asia-Pacific to Dominate the Market
- In 2018, Asia-Pacific region dominated the global non-stick coatings market owing to the increasing average household income and improving quality of life in the region.
- The population of the countries in Asia is increasing, resulting in an increased number of houses. This, in turn, increases demand for household appliances, including kitchen appliances, cookware, etc.
- China and India are the largest consumers of non-stick coatings in Asia-Pacific.
- For instance, the Chinese machinery industry maintained its growth at a rate above 30% in the past decade. Presently, as China invests in the upstream segments and high-tech manufacturing, new opportunities are emerging within the machinery industry’s sub-sectors.
- Growth sectors include the production and upgrade of industrial robotics, advanced machine tools, and agricultural machinery. China’s industrial robot production, for instance, is expected to grow by over 38% through 2019.
- The food processing industry is one of the largest industries in India. This industry ranks among the top five industries, in terms of production, consumption, and exports. The demand for processed food is rising, with the increasing disposable income levels, urbanization, the young population, and nuclear families.
- §Cookware enjoys the largest share in the consumption of fluoropolymer coatings, especially PTFE-based fluoropolymer coatings, due to their excellent non-stick properties and high temperature resistance.
- Thus, owing to the aforementioned factors, the growing industries are expected to boost the non-stick coatings market during the forecast period.
The non-stick coatings market is fragmented, with the presence of numerous players in the market. Some of the key players in the global non-stick coatings market include 3M, AGC Inc, Metal Coatings Corp., and Orion Industries, among others.
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