The market for non-stick coatings is valued at USD 1,475 million in 2020 and is expected to witness a CAGR of over 5. 5% during the forecast period. The COVID-19 pandemic had a profound impact on manufacturing operations, with prices collapsing, demand falling, operational activities curtailed, and capital projects reviewed.
New York, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Non-stick Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06192775/?utm_source=GNW Manufacturing of electrical and electronics, industrial machinery, cookware, and others witnessed a slowdown in 2020, owing to production restrictions in early 2020. However, the resumption of production activities in 2021 led to smoothening the curve. Thus, the demand for non-stick coatings was hampered in 2020. German industrial production plunged by a record 18% month-on-month in April 2020, as the COVID-19 lockdown caused major disruption to factories across most manufacturing sectors. Key Highlights Over the short term, some of the major factors driving the market studied is the increasing demand for non-stick cookware. Also, the growing use of UV cured sol-gel coatings is also likely to boost the demand for non-stick coatings during the forecast period. Increasing demand for non-stick coatings in medical and electronic applications 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 Cookware Application to Dominate the Market Nonstick coatings have been used on cookware for more than five decades. Most cookware is made of stainless steel, aluminum, cast iron, glass, pyroceram, and ceramic, while some bakeware is made from flexible silicone. The superior properties of non-stick coatings make them popular for an endless variety of food grade non-stick applications, which include cookware, such as pots and pans. NTP Groups survey revealed that 39.9 percent of US consumers would most likely purchase non-stick aluminum cookware. Over the years, non-stick cookware has been receiving negative attention regarding its safety and health issues due to the emission of toxic chemicals. The nonstick coatings have been confirmed safe for human use by scientists from the Food and Drug Administration. Cookware without perfluorooctanoic acid (PFOA) is considered more environmentally friendly than those made with other nonstick coatings. Traditional PTFE pans make up the low-end of the cookware market, while non-PFOA coatings and ceramics and silicone-based coatings make up the high-end green side of the market, which offers supposedly healthy solutions that are not as effective as their PTFE counterparts. The market is slowly shifting toward the green pans market, which is instrumental in expanding the market size of the non-stick coatings. Asia-Pacific Region to Dominate the Market 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. The demand for cookware in China has become more extensive, especially as most local consumers are undergoing a full transition. Henceforth, a variety of colorful, advanced functions of cookware, from pressure cookers of different materials, non-stick cookers, electric hot pots to induction cookers and other cookware products, are being used more, which is a positive for the non-stick coatings market in the country. The fabrics and carpet industry is one of the important sectors in the country. According to the National Bureau of Statistics of China, the export volume of carpets in the country has witnessed a major increase in recent years. The 2009 export volume stood at 457.25 million sq. meters, whereas the 2019 volume stood at 841.51 million sq. meters. The textile/fabric sector is also expected to contribute to the market studied. The food processing industry is one of the largest industries in India, and its output is expected to reach USD 535 billion by 2025-26. 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, young population, and nuclear families. Thus, owing to the aforementioned factors, the growing industries are expected to boost the non-stick coatings market during the forecast period. Competitive Landscape The non-stick coatings market is consolidated, with the top three companies holding almost 60% of the total market. Major players in the market include The Chemours Company, 3M, Showa Denko KK, PPG Industries, and Weilburger, among others. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06192775/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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