The global non-stick coatings market is expected to reach USD 1,617 million by the end of this year and is projected to register a CAGR of over 3.5% during the forecast period.
The COVID-19 pandemic profoundly impacted manufacturing operations, with prices collapsing and demand falling. However, the market is expected to grow steadily during the forecast period.
- Over the medium term, the growing demand for non-stick cookware is expected to stimulate the market growth of non-stick coatings. Furthermore, the popularization of UV-cured sol-gel coatings in the non-stick coatings market, owing to their rapid curing, drying, superior hardness, abrasion resistance, and low energy consumption properties, is also expected to drive the growth of the market studied.
- On the other hand, the health hazards associated with continuous exposure to fumes from overcooked non-stick coatings cookware are expected to depreciate the market growth.
- Nevertheless, the advancements and expansion in the medical and electronics sectors are likely to create lucrative growth opportunities for the applications of non-stick coatings in medical equipment and miniaturized electronic components in the forecast period.
- The Asian-Pacific region dominates the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the rapid rise in consumer expenditure on high-grade home furnishings, coupled with ascending demand for durable, sleek, and smart designs in utensils in the countries of this region, including China, Japan, and India.
Key Market Trends
Cookware Application to Dominate the Market
- Non-stick coatings have been used on cookware for more than five decades. Most cookware is made of stainless steel, aluminum, cast iron, glass, program, and ceramic, while some bakeware is made from flexible silicone. The superior properties of non-stick coatings make them popular for various food-grade non-stick applications, including cookware, such as pots and pans.
- Non-stick cookware such as frying pans and saucepans are coated with polytetrafluoroethylene (PTFE), sometimes called Teflon. Teflon-coated cookware is easy to use and clean due to its non-stick surface. It also uses less oil or butter, making it a low-fat way of cooking and frying meals.
- Over the years, non-stick cookware has received negative attention regarding its safety and health issues due to the emission of toxic chemicals. The non-stick coatings have been confirmed safe for human use by Food and Drug Administration scientists. Cookware without perfluorooctanoic acid (PFOA) is considered more environmentally friendly than those made with other non-stick coatings.
- Hence, traditional PTFE pans are at the low end of the cookware market, whereas non-PFOA coatings, ceramics, and silicone-based coatings are at the high end, used as an alternative to Teflon-free products.
- The market is slowly shifting toward the green pans market, significantly expanding the market size of non-stick coatings.
- All the above-motioned factors are expected to augment the demand for non-stick coatings for cookware applications during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asian-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 the demand for household appliances, including kitchen appliances and cookware.
- China and India are the largest consumers of non-stick coatings in Asia-Pacific. China and India's demands for cookware have grown, especially since most local consumers are undergoing a full transition of adopting cookware with better quality. As a result, a wider range of colorful, advanced cookware functions, such as pressure cookers of various materials, non-stick cookers, electric hot pots, induction cookers, and other cookware products, are being used more frequently.
- China's fabrics and carpet industry are one of the country's most important industries. According to China's National Bureau of Statistics, the country's carpet export volume has increased significantly in recent years. According to the United Nations COMTRADE database on international trade, China's exports of carpets and other textile floor coverings totaled USD 3.75 billion in 2021.
- The expansion of China's automotive segment is expected to boost demand for non-stick coatings. According to the International Organization of Motor Vehicle Manufacturers (OICA), China is the largest global automaker. From Q1 to Q3 of 2021, the country produced 1,82,42,588 vehicles, accounting for approximately 31.86% of the global volume. The vehicle production for 2021 totaled 2,60,82,220 units.
- China is the world's largest producer of electronics. Electronic products, such as smartphones, televisions, and other personal devices, grew the fastest in the electronics segment. The country meets domestic electronic demand, exports electronic output to other countries, and is expected to sustain the growth pattern.
- The food processing industry is one of India's largest, with output expected to reach USD 535 billion by 2025-26. This industry ranks among the top five in terms of production, consumption, and exports. With rising disposable income levels, urbanization, a young population, and nuclear families, there is an increase in demand for processed foods.
- India's digital economy is expected to be worth USD 1 trillion by 2025. The electronics system design and manufacturing (ESDM) sector is expected to generate more than USD 100 billion in economic value by 2025. Several policies, including Make in India, the National Policy of Electronics, Net Zero Imports in Electronics, and the Zero Defect Zero Effect, demonstrate a commitment to increasing domestic manufacturing, reducing import dependence, and reviving exports and manufacturing. Over the forecast period, the expansion of the electronics industry is expected to boost demand for non-stick coatings.
- The Japanese food processing industry is among the most advanced and sophisticated globally, producing USD 216.4 billion in food and beverage products in 2021. Compared to 2020, the industry benefited from a slightly higher exchange rate relative to the dollar, allowing for marginal value growth.
- All factors mentioned above are likely to fuel the growth of the Asia-Pacific non-stick coatings market over the forecast time frame.
The non-stick coatings market is consolidated in nature. Some of the major players in the market (in no particular order) include The Chemours Company, PPG Industries Inc., DAIKIN INDUSTRIES Ltd, Showa Denko KK, and 3M, among others.
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