Showa Denko's GMM acquired Swiss nonstick coatings maker
Published Date | 2019 May 30
Acquisition of Swiss nonstick coatings manufacturing company, Ilag, by Showa Denko's GMM is anticipated to upsurge their business in coatings industry which will influence the global non-stick coatings market in the future timeline
Global: GMM Nonstick Coatings, a Japanese conglomerate and parent company of Chicago-based GMM Nonstick Coatings, has acquired Ilag Group (Zurich Switzerland, Switzerland), a maker of nonstick coating chemicals, from private equity firm Helvetica Capital (Zurich, Switzerland). ILAG has the fourth largest share in the consumer-goods NSC market of worldwide operating companies, and the second-largest share of this segment in Europe. Its major customers are many of the leading cookware manufacturing companies and automotive manufacturers in Europe as well as around the world. The company also has manufacturing facilities in both Zurich and China. GMM and Ilag will give Showa Denko a major presence in the nonstick coatings markets in both the US and Europe. The two will operate as sister companies in the newly-formed coatings business unit. In 2016, GMM Group (GMM) acquired SDK which has a large market share in NSC market for consumer goods in the US, and GMM's main customers are major cookware/bakeware manufacturers based in the United States.
According to BlueWeave Consulting, increasing demand for PTFE (Polytetrafluoroethylene) in cookware applications and growing use of UV cured sol-gel coatings will trigger the non-stick coatings industry in upcoming years. Non-stick surfaces are coated with polytetrafluoroethylene (PTFE) and Teflon. The non-stick coating is used to reduce the adhesive ability of other materials like fry pans and saucepans. The non-stick coating has superior properties which make them popular for an endless variety of industrial uses such are Strong cohesive forces, Low coefficient of friction, Nonwetting, Cryogenic stability, and Chemical resistance. Additionally, Non-stick coatings have major benefits in the cookware industry like cooked without oil, Easy to clean, wash & dry, Scratch resistant, and Uniform Distribution of Heat.
Non-stick coatings are used in the industrial machine parts to reduce the friction between the moving parts. It also increases corrosion and heat resistance. It is used for various machine parts such as gears, bearings, joints, slide plates, bushings, O-rings, pipe linings, saw blades, etc. The growing demand for Non-stick coatings in food processing, chemical processing, electrical and electronics, and building & construction Industry will influence the Non-stick coatings market in forecast periods.
According to BlueWeave Consulting’s upcoming report, Titled-“Global Non-Stick Coating Market By Type (Fluoropolymer, Silicone, Sol-Gel), By Application (Cookware, Food Processing, Fabrics and Carpets, Medical, Electrical & Electronics, Industrial Machinery), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Size and Forecast, 2015-2025”- Global Non-stick coating will presents promising growth prospects and expected to have upward trend over the forecast period 2019-2025 owing to shifting of people towards the use of non-stick cookware due to various advantages such as faster cooking process in account of its uniform distribution of heat, scratch resistance, quality of food, easy cleaning, washing, drying, etc.
Moreover, rapid urbanization in emerging economies, changing lifestyle choices and increasing willingness of consumers to spend on newer variants of consumer goods will upsurge in the demand for nonstick coatings product in future timeline.