PTFE Coatings Market Overview
PTFE Coatings Market size is estimated to reach US$2.5 billion by 2027 and it is projected to grow at a CAGR of 6.1% during 2022-2027. PTFE coatings are non-stick fluoropolymer coatings with a very thin film coating. These coatings are generally used in mold release applications for products like rubber mats and golf balls however, is utilized in multiple applications. These products are exceedingly low coefficient of friction with good resistance and can handle high pressure and temperatures as well. It was initially used to make non-stick pans due to its chemical structure but now it has been widely used in many other industries as well. There are 3 types of PTFE coatings: solvent based coatings, water-based and powder coating. The PTFE coatings improve and modify the properties of surfaces.
As various nations have declared complete lockdown during COVID-19 and kept a better care for their households, the demand for PTFE coatings were growing at a satisfactory pace. Though market was negatively impacted by COVID-19 in 2020. However now it is expected to return to the pre-pandemic levels. The demand of the global food and beverages industry has been severely affected by COVID-19 pandemic. The construction industry was also extremely impacted due to the lockdown conditions in many parts of the world. Thus, the global halt in industrial production and distribution, the demand and consumption of PTFE coatings has hindered to an extent in various industries.
The “PTFE Coatings Market Report – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the PTFE coatings industry.
- PTFE coatings are unaffected by virtually all acids and caustics and functions in an extreme environment; therefore, it is widely used in chemical industry.
- PTFE coatings are responsible for smooth functioning of the machinery, thereby saving the time required during downtime.
- PTFE coatings are majorly used in medical industry for equipment as PTFE coatings are resistant to corrosion and different types of chemical agents. It also helps in maintaining safe and bacteria-free environment which is expected to provide growth opportunity for industry players in PTFE Coatings Market
Water-based PTFE coatings held the largest share in PTFE Coatings Market in 2021 and it is expected to grow with a CAGR of 6.7% during the forecast period. Water-based coatings are surface coatings which contain 80% water and a small quantity of other solvents such as polyvinyl ether and glycol. Solvent based PTFE coatings offer excellent safety towards corrosion; however, they can’t be used on flammable substances such as wood due to the usage of flammable solvents in their manufacturing. Water-based PTFE coatings do not have this problem, which is why they have been gaining recognition over the years particularly as an environmentally friendly alternative to solvent-based products. Water-based coatings are also known as polyurethane coatings. They contain a reactive mixture of a solvent with isocyanates and other ingredients which form a polymer coating. These coatings are environment friendly, easy to maintain and also offer high performance levels for corrosion protection on metal substances. The demand for water-based coatings have boost the market growth due to its properties such as anti-corrosion, anti-fouling, and self-cleaning properties. These coatings have also increased consumption in industrial wood applications such as flooring and furniture. The water-based coatings help the wood and wood substrates from scratches, corrosion, and chemical abrasion. Thus, the increase in demand for water-based coating is boosting the global PTFE Coatings Market growth.
PTFE Coatings Market Segment Analysis – By End-User Industry
The construction industry held the largest share in PTFE Coatings Market and it is estimated to grow at a CAGR of 6.5% during the forecast period. PTFE coatings provide protection against friction, water, and corrosion, it is used widely in many different industries. Fluoropolymer coatings offer great protection against the strident of substances and very few can affect the strong carbon-fluorine bonds that give these coatings such distinct properties for expansion of joints, slide bearings, bridge bearings etc. Modern chemical processes include substances at various temperatures and pressure, thus consider PTFE coatings for most of the products. Non-stick coatings provide wonderful release residences for moulding and forming techniques and in some applications, where a process or substance is not accepted to keep up a correspondence with a metallic or probably impure substrate, fluoropolymer coatings will act as an inert, physical barrier between the technique and the substrate or to prevent any permeation and chemical attack. The PTFE coatings are also used to make road deck to reduce huge friction. Thus, PTFE coatings are widely adopted in construction industry owing to its beneficial properties, in turn fueling the global market growth.
PTFE Coatings Market Segment Analysis – By Geography
The Asia Pacific is the leading region accounted for the largest share in the PTFE Coatings Market in 2021, with a share of over 35%. The PTFE coating market is gaining popularity and is expected to increase more during the next few years. The growth is mainly attributed to the increasing demand towards industrial expansion in Asia-Pacific regions. Asia-Pacific region dominated the global PTFE Coatings Market owing to the increasing demand from oil and gas, food and beverages, medical, and electrical and electronics industry. The region is expected to represent a very high growth in future as well due to the growth potential in developing countries such as China and India market.
PTFE Coatings Market Drivers
Surge in Non-stick cookware and Food Processing
PTFE coating are widely used in cookware. It is used as an inner coating material in non-stick cookware. Increase in food processing industry results in growth of PTFE coatings. This precise polymer coating prevents food from sticking within the pans during the cooking procedure. Such cookware is also easy to wash. It decreases the product maintenance cost, increase the time period and throughput, and also protects the equipment purity. According to Invest India, the food processing sector in India is expected to reach US$535 billion by 2025-26. Due to high purity and biofilm resistance like characteristics, PTFE coatings deliver more value when used in the linings of metal vessels, pumps, hinges, piping, gaskets, and valves. Belts and conveyors made up of PTFE coatings are also used in mass-produced foods like bacon, hamburgers, chicken, and eggs. The coatings include scope of advantages like productivity, higher performance, and efficiency. Thus, the surge in demand for non-stick cookware and increase in food processing is driving the growth of global PTFE Coatings Market.
Demand for Household Appliances and Packaging
PTFE coatings are used in almost every household appliance such cooking utensils, iron and iron board covering, wiper blades, heat lamps, and many more. The properties of PTFE coatings are high temperature handling and low friction solution. The packaging industry uses PTFE coatings in two basic areas. The first area relates to low friction and dry lubrication coatings for packing machinery. The second area is heat sealing, pre-heat and then forming equipment. According to Plastic Industry Association of India, India is the fifth largest country in packaging industry and is growing about 22-25% per annum. Thus, the growth of PTFE coatings is also inclined positive. The properties of PTFE coatings like high resistance to heat, non-stick, and abrasion capabilities, make these coatings ideal for machines that produce packaging. The basic machinery of packaging where PTFE coatings are used are mainly sliding mechanism machines, lead screws, rotating shafts, hinges, heat sealing bars, cutting blades, moulds, rollers and many more. Thus, growth in packaging industry and surge in demand for household appliances is boosting the growth of global PTFE Coatings Market.
PTFE Coatings Market Challenges
Consumer inclination towards Sustainable Coatings
As some products where PTFE coatings are used are processed under high pressure and temperature, thus, when PTFE coatings are overheated, it releases mildly toxic fumes which are quite harmful. The coatings which haven’t been applied accurately leads to poor performance of the product as well as it makes it sticky instead of less slippery. The green pans on the other hand uses an electro-chemical surface at the exterior which helps it look new and stainless. In 2007, a company named GreenPan introduced healthy ceramic non-stick appliances made up of thermolon to the world. Instead of plastics, these coatings are made up of sand. In less than 15 years, these pans have become very popular among healthy non-stick cooking utensils. The greenpan material heats faster than regular coating pans and does not release toxic fumes if overheated. Thus, the presence of eco-friendly coating may hinder the demand of global PTFE coatings.
PTFE Coatings Industry Outlook
PTFE Coatings Market top 10 companies include:
- RPM International Inc.
- The Sherwin-Williams Company
- Akzo Nobel
- Nippon Paint Holdings Co., Ltd.
- Axalta Coating Systems
- BASF SE
- PPG Industries
- Asian Paints Ltd.
- Kansai Paint Co. Ltd.
- In March 2022, PPG announced to showcase its broad range of coatings at 2022 Inspired Home Show in Chicago. Its newly redesigned exhibit will replicate a kitchen to show coatings used in real-world applications, including its complete line of non-stick options for cookware, bake ware and kitchen electrics.
- In March 2022, BASF opened a new laboratory for the development of automotive refinish coatings and innovations beyond paint in Münster, Germany. This laboratory is part of a series of global technical innovations.
- In July 2021, Axalta Coating Systems, a leading global supplier of liquid and powder coatings, announced to acquire U-POL, a leading paint, protective coatings, and accessories manufacturer for the automotive aftermarket.
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