The extrusion coating market is projected to reach USD 5.64 billion by 2022, at a CAGR of 5.5% from 2017 to 2022. Increasing demand for extrusion coating from the packaging industry is the major driver for the growth of the extrusion coating market. The demand for extrusion coating across the packaging industry for liquid packaging and flexible packaging is high.
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Increased demand from the food & beverages packaging industry is driving the growth of the extrusion coating market across the globe.
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Moreover, Extrusion Coating helps to reduce customer churn rate through real-time alerts to marketing professionals. However, the complexity in data synchronization gathered through multiple touch points has been limiting the market growth.
Factors such as major focus on virtual touch point to reduce cost and time spent on feedback management, and need to predict customer behavior based on customer intents would provide attractive opportunities for the market growth.
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Liquid packaging and flexible packaging are widely used in the food & beverage industry. Hence, these factors are expected to drive the market of extrusion coating.
On the other hand, the use of substitute products such as bio-based resins acts as a restraint to the market.
“LDPE and polymer films are projected to grow at high CAGRs during the forecast period of 2017 to 2022”
The LDPE segment of the extrusion coating market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. The growth of this segment can be attributed to the increased use of LDPE for packaging industry.
The use of LDPE for packaging of food & beverages is driving the market. The polymer films segment is also expected to grow at a significant rate due to the increasing demand from the flexible packaging application.
Increasing demand for innovative and lightweight packaging is driving the demand for flexible packaging.
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“The Asia Pacific extrusion coating market is projected to grow at the highest CAGR during the forecast period”
Asia Pacific is the largest market for extrusion coatings globally, with China being the most dominant market in the region. This region is also witnessing the highest growth rate, which is attributed to the ongoing rapid economic expansion in the region.
In addition, rapid developments in the packaging industry are also driving the demand for extrusion coatings for food & beverages, medical & pharmaceutical, and other applications in the region.
This study has been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories on the basis of company type, designation, and region.
- By Company Type: Tier 1 – 62%, Tier 2 – 15%, and Tier 3 – 23%
- By Designation: C-Level – 15%, Director Level – 8%, and Others – 77%
- By Region: Europe – 31%, Asia Pacific – 61%, and North America – 8%
The report also includes company profiles and competitive strategies adopted by the major market players, such as Dow Chemical (US), Exxon Mobil (US), Borealis AG (Austria), Celanese Corporation (US), Chevron Phillips (US), DuPont (US), Lyondell Basell Industries Holdings B.V. (US), Qenos Pty. Ltd. (Australia), and SABIC (Saudi Arabia) to strengthen their position in the extrusion coating market.
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This research report categorizes the extrusion coating market on the basis of material type, substrate, and region. It forecasts revenue growth and includes an analysis of the trends in each of the submarkets.
These segments have been further described in detail in the report. The value and volume forecasts for these segments have also been provided in the report till 2022.
The report also includes company profiles and competitive strategies that have been adopted by the major players operating in the extrusion coating market.
Key points this report offers:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market ranking of the top players, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the extrusion coating market, high-growth regions, and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the formulations of extrusion coatings offered by the top market players.
- Product Development/Innovation: Detailed insights on the emerging technologies, Research & Development (R&D) activities, and new product launches in the extrusion coating market.
- Market Development: Comprehensive information on the lucrative, emerging markets as the report analyzes the extrusion coating market across different regions.
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the extrusion coating market.
- Competitive Assessment: In-depth assessment of the strategies, products, and manufacturing capabilities of the leading players in the extrusion coating market.