The Extrusion Coating Market is projected to reach USD 4.32 billion by 2021, registering a CAGR of 5.1% between 2016 and 2021. Asia-Pacific is the leading market for extrusion coatings, in terms of value and volume, and is projected to continue so till 2021. Countries in this region such as China, India, Japan, South Korea, Malaysia, and Indonesia are witnessing an increase in the use of extrusion coatings for packaging in food & beverages, medical & pharmaceutical, and others.
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Target Audience:
- Manufacturers of Extrusion Coating Equipment and Resins
- Traders, Distributors, and Suppliers of Extrusion Coating Equipment and Resins
- End-use Market Participants of Different Segments of the Extrusion Coating Market
- Government and Research Organizations
- Associations and Industrial Bodies
- Research and Consulting Firms
- R&D Institutions
- Environment Support Agencies
- Investment Banks and Private Equity Firms
China leads the Asia-Pacific extrusion coatings market due to its huge population and growing economy. It is projected to be the fastest-growing market in the global extrusion coating market. Rapid development in the extrusion coating market in major economies, namely, China, India, and Japan is vigorously pushing the demand for extrusion coatings all across the world. Also, with growing health awareness and rising disposable income, China is also expected to remain the main hub for consumption of extrusion coating during the forecast period.
The growth of the extrusion coating market is mainly due to the increasing demand for flexible packaging, liquid packaging, commercial packaging, and various other applications in automotive industry, building & construction industry and industrial packaging all across the globe. Food & beverages is one of the fastest-growing end-use industries for extrusion coating products. The need for reliability, good sealability, visual attractiveness, good barrier properties, and long shelf life in the packaging industry enhances the adoptability of extrusion coating process. In addition, new extrusion coating modifications are also being made to fulfill these properties, ultimately driving the market. Further, government of major economies such as the U.S., Germany, China, India, Brazil, and others are investing heavily in the packaging sector and are focusing on health awareness with the use of renewable sources in this process. These factors drive the extrusion coating market significantly.
LDPE is projected to be the fastest-growing segment of the extrusion coating market, in terms of material type. LDPE is gaining importance in the global extrusion coatings market due to its worldwide acceptance in food packaging industry. It has considerable potential in the area of packaging in automotive and building & construction industries.
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Flexible packaging is the fastest-growing application of extrusion coating. Increasing health awareness in emerging economies and the need for development of western standards for packaging is facilitating the growth of this application. Flexible packaging is used in packaging of food commodities such as baked goods, biscuits, snacks, confectionery, cereals, and others. They are also used in applications across various other industries such as, medical & pharmaceutical, transportation, industrial, consumer durables, and others, which are significantly driving the market for extrusion coating globally.
There are a few global players operating in the Extrusion Coating Market. These companies are actively investing in various strategies, such as expansions, new product launches, mergers & acquisitions, and joint ventures to increase their market shares to further strengthen their position in the Extrusion Coating Market. Dow Chemical (US), Exxon Mobil (US), Borealis AG (Austria), Celanese Corporation (US), Chevron Phillips (US), DuPont (US), LyondellBasell Industries Holdings B.V. (US), Qenos Pty. Ltd. (Australia), and SABIC (Saudi Arabia) are the leading players in the Extrusion Coating Market who have adopted various organic and inorganic strategies to ensure their growth in this market.
