Extrusion coating is a process used to quote thermoplastic polymeric materials on different substrates by the application of heat and pressure. The substrates may be polyester films, aluminum foil, paperboard or even biaxially oriented polypropylene (BOPP) films. Extrusion coatings have a wide array of applications introducing drink containers, tubes for toothpaste and other materials, transport packaging, industrial wrappings, and more. Thus, extrusion coating is widely used in different end user industries including food & beverage, pharmaceutical, construction, consumer goods, and others.
- The global extrusion coating market has been impacted by the outbreak of the COVID-19 pandemic to a great extent.
- The nationwide lockdowns imposed by the governments to contain the virus caused great impacts on the manufacturing sector. Most of the manufacturing units had to lower the production rate, which decreased the demand for hydraulic packaging applications and consequently the demand for extrusion coatingdecreased.
- However, since the advent of the global pandemic, the people around the globe are advised to avoid going to crowded places to prevent the transmission of the virus. This caused an increase in preference toward the e-commerce services. This has resulted in a growing demand for extrusion coating around the world.
Top impacting factors: Market Scenario Analysis, Trends , Drivers and Impact Analysis
The rise in demand for food & beverage industries has played a key role in driving the growth of the extrusion coating market. It is majorly used for flexible packaging of various food items such as dairy products, meat & poultry, and other frozen foods. The extrusion coating also provides advantages including prolonged shelf life, lower costs, and the capability to retain the freshness of the product. On the other hand, extrusion coatings also play a vital role in the packaging of several pharmaceutical and personal care products. Excellent properties including aberration resistance, chemical stability, and reduced water vapor transfer also drive the demand for extrusion coatings in these industries. However, the fluctuating prices of raw materials limit the market growth.
The market in the Asia-Pacific region holds a significant share of the global extrusion coatings market due to the increase in demand for extrusion coatings in different manufacturing facilities present in the region. The market in Europe and North America regions is also expected to witness lucrative growth owing to the high need of extrusion coatings in the food & beverage industry in the developed economies.
Key benefits of the report:
- This study presents the analytical depiction of the global extrusion coating industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global extrusion coating market share.
- The current market is quantitatively analyzed to highlight the global extrusion coating market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global extrusion coating market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Extrusion Coating Market research report:
- What are the leading market players active in the extrusion coatingmarket?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Extrusion Coating Market Report Highlights
By End-use Industry
Key Market Players
Borealis AG, Dura Coat Products Inc., LyondellBasell Industries Holdings BV, Eastman Chemical Company, Solvay SA, SABIC, DowDuPont, Reliance Industries Limited, Exxon Mobil Corporation, The Sherwin-Williams Company, Valspar Corporation, Formosa Plastics Corporation, The Lubrizol Corporation, Celanese Corporation, PPG Industries Inc., Akzo Nobel NV