The report "Extrusion Coating Market
by Material Type (LDPE, EVA, PP), Substrate (Paper & Paperboard,
Polymer Films, Aluminum Foil), and Region - Global Forecast to 2022",
The extrusion coating market was valued at USD 4.10 Billion in 2016 and
is projected to reach USD 5.64 Billion by 2022, at a CAGR of 5.5%
during the forecast period. In this study, 2016 has been considered as
the base year and 2017 to 2022 as the forecast period for estimating the
market size for extrusion coating. The growth of the extrusion coating
market across the globe is fueled by the high demand from the packaging
industry and increasing global demand for extrusion coatings in Asia
Pacific, South America, and Middle East & Africa region.
LDPE is the largest segment of the extrusion coating market and is projected to grow at the highest CAGR from 2017 to 2022.
LDPE is of great importance due to its easy
processing, higher melt strength, and superior optical properties in
comparison with linear polyethylene. It has a good moisture barrier and
sealability properties and hence is used in applications such as liquid
packaging, food packaging, folding carton, and others. It is resistant
to impact, moisture, chemicals, and is recyclable. LDPE is the largest
and fastest-growing type segment of polymers used in the extrusion
coating market. The growing application of LDPE in various end-use
industries such as packaging, automotive, building & construction,
medical & pharmaceutical, consumer goods, and others is expected to
drive the extrusion coating market in the coming future.
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Though the extrusion coating market is expected to grow at a fast pace
across the globe, the increasing carbon footprint due to the use of
polymer resins is a major restraint toward the growth of the extrusion
coating market. Polymers used in extrusion coatings are LDPE, EVA, PP,
and others. Processing these polymers results in harmful byproducts
generated during the processing which could also lead to an increase in
carbon footprint.
Among substrates, the paper & paperboard segment is projected to lead the extrusion coating market from 2017 to 2022.
Paper & paperboard is the largest substrate
segment. This is due to the superior properties of paperboard such as
lightweight, recyclability, low cost, and environment-friendliness.
Paper & paperboard is used for packaging various food items such as
snacks, vegetables, and others. These factors are expected to drive the
growth of the paper & paperboard segment.
The Asia Pacific region is the largest market for extrusion coating across the globe.
Asia Pacific is the global forerunner in the
extrusion coating market, in terms of value and volume, and this trend
is expected to continue till 2021. Countries in this region such as
China, India, Japan, South Korea, and Indonesia are witnessing
significant increase in the use of extrusion coatings in the packaging
segment of the food & beverages industry. The growth of the Asia
Pacific extrusion coating market is also attributed to the rapid
economic growth and increasing population that is driving the demand for
extrusion coating materials from various end-use industries in this
region. China is the fastest-growing market and this trend is estimated
to continue till 2022.
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.
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