Market Overview:
Products are coated for different reasons, sometimes for decoration and sometimes for protection. The coating protects an item from dust and rust, and sometimes, it enhances its look too. Due to the beneficial properties offered by coating, the item receives protection from weathering, corrosion, atmospheric gases, vapors, and liquids. This protection keeps the item's surface smooth. Hence, the market extrusion coating is a secure market with a lot of scope for growth right now. Nowadays, extrusion coating is being used increasingly in a number of industrial applications in a bid to protect machinery and equipment that operate in the harsh working environment. This is expected to raise the growth in demand for the extrusion coating.
Market Research Future (MRFR) has published a research report about the global Extrusion Coating Industry that predicts the massive market growth with between 2016 and 2023. In terms of cash, the growth is expected to reach the US $ 25 bn by the end of 2023. The factors that are driving this market include the craze for more sophisticated packaging. Laminated and composite flexible structures are being used widely for packaging industrial materials. Such structures are being used for various packaging applications. Need for protective coating/covering on equipment, end decorative parts, industrial tools, and packaging industry is another major factor for driving the extrusion coating market. Growing demand from packaging industry is widening the scope of the market in construction industries, food beverages, healthcare, and medical sector. This is the third factor driving the market growth.
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Competitive Analysis:
Key players in the Global Extrusion Coating Market are DowDuPont (The U.S.), Exxon Mobil Corporation (The U.S.), SABIC (Saudi Arabia), Celanese Corporation (The U.S.), Borealis AG (Austria), LyondellBasell Industries Holdings B.V. (The Netherlands), PPG Industries, Inc. (The U.S.), Formosa Plastics Corporation (Taiwan), Eastman Chemical Company (The U.S.), Reliance Industries Limited (India), Solvay SA (Blegium), and others.
Market Segmentation:
The Global Extrusion Coating Market is segmented on the basis of type, substrate, application and region.
By Type, the market is categorized into low density polyethylene (LDPE), polypropylene (PP), ethylene vinyl acetate (EVA), and others. Among these types, the LDPE segment is holding the largest share of the market on account of the distinguished properties offered by this polymer such as higher gas and moisture and greater sealability. This makes it applicable in major end uses such as specialized laminates for liquid and food packaging, and industrial and other construction applications.
On the Basis of Substrate, the Global Extrusion Coating Market is classified into paperboard, polymer films, aluminum foils, and others. Paperboard is the major segment among them, in terms of market size. This is attributed to the low cost, greater recyclability and environment-friendly nature of these substrate.
Lastly, Based on Application the market is segmented into packaging, photographic, envelope, and others. Among them, packaging is the most dominating application segment owing to the shifting consumer preference towards the packages food, grocery and other retail products. Additionally, rising demand from the industrial and transportation specific packaging is driving growth of this segment.
Regional Analysis:
The regional segmentation of the global extrusion coating market has been done in regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East Africa (MEA). Due to the growing population, rapid economic growth, and the rising standard of living of the people, Asia Pacific is the leading market among all regional markets. Major markets in this region are China, India, and Japan, with China witnessing the fastest growth. Other small but significant markets in this region are Australia and New Zealand, followed by rest of the Asia Pacific. According to the report, North America is the second most significant market region. The United States of America (USA) is the major contributor in this region due to the presence of well-established and leading end-use industries such as foods beverages and sports industry. Another important market in this region is Canada.
The third biggest regional market is in Europe. Due to rapidly growing demand for extrusion coatings by automotive, food beverages, and healthcare industry, the biggest markets in this region are France, Germany, Italy, Poland, Russia, and the United Kingdom (UK). In Latin America, Mexico and Argentina are significant markets.
Due to rising industrialization and pacifying political economic scenario in Brazil and Colombia, these two are other significant markets in this region. During the forecast period, this region is expected to hold significant market share. In coming years, Latin America and the Middle East Africa are likely to make a significant contribution towards the growth of global extrusion coating market due to increasing global demand for the extrusion coating.
The MEA region holds relatively lesser shares in the global extrusion coating market, but that is expected to change in the near future on account of hitherto untapped growth opportunities in the construction sector. In this region, the biggest markets are Bahrain, Israel, Kuwait, Oman, North Africa, Qatar, Saudi Arabia, Turkey, and United Arab Emirates (UAE), followed by rest of MEA region.
Key Players
The key players in the global extrusion coating market include Borealis AG (Austria), Celanese Corporation (USA), DowDuPont (USA), Eastman Chemical Company (USA), Exxon Mobil Corporation (USA), Formosa Plastics Corporation (Taiwan), Lyondell Basell Industries Holdings B.V. (The Netherlands), PPG Industries, Inc. (USA.), Reliance Industries Limited (India), SABIC (Saudi Arabia), and Solvay SA (Belgium).
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Latest Industry News
- Oji Intertech Inc., a Japan-owned automotive and industrial parts manufacturer, has planned to expand its business operations in Wabash County. This expansion is expected to create up to 33 new jobs by 2021. Specializing in assembly, compression molding, diecutting, and extrusion coating, Oji Intertech, has plans to upgrade its machinery and equipment so that they can allow for an additional two molding lines starting in 2020. 12 JUL 2018
- Nordson Corp. (Münster, Germany) has merged the capabilities of previously separate operations for the manufacture of melt delivery equipment and pelletizing equipment. The consolidation is expected to increase its effectiveness as a source of expertise for polymer processing components. Nordson’s U.S. location in Austintown, OH, also recently announced a wide-ranging new resource for extrusion and injection molding processors that covers all aspects of plasticating systems. 2 JUL 2018
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