Extrusion Coatings Market Worth 4.32 Billion USD by 2021
PUNE, India, September 5, 2016 /PRNewswire/ --
The report "Extrusion Coating Market by Material Type (LDPE, EVA, Polypropylene, Polyethylene Terephthalate), Substrate (Paperboard, Films, Aluminum Foil, Polymer), Application (Liquid Packaging, Flexible Packaging, Commercial Packaging) - Global Forecast to 2021", published by MarketsandMarkets, The global market is projected to reach USD 4.32 Billion by 2021, registering a CAGR of 5.1% between 2016 and 2021.
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Browse 125 market data Tables and 49 Figures spread through 280 Pages and in-depth TOC on "Extrusion Coating Market"
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This growth is expected to be driven by the high demand from the packaging industry and increasing demand for extrusion coatings in Asia-Pacific, South America, and the Middle-East & African regions.
LDPE: The most-widely used material for extrusion coating
LDPE is widely used for extrusion coating due to their easy processing, higher melt strength, and superior optical properties. It has 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, and chemicals and are recyclable. LDPE is the largest and fastest-growing type of polymer used in the extrusion coating market. The growing use of packaging material manufactured using LDPE resins in various end-use industries such as automotive, building & construction, medical & pharmaceutical, consumer goods, and others is expected to drive the extrusion coating market in the coming future.
Liquid Packaging: The largest application for extrusion coating
Liquid packaging is the largest application segment of the extrusion coating market. Extrusion coatings are used widely for packaging in various end-use industries such as food & beverages, medical & pharmaceutical, and others. The various liquid packaging available today are bag-in-box, bottles, caps & closures, and stand-up pouches. They are used for packaging of various products such as liquids & beverages, wine & spirits, and detergents & household cleaning items.
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Asia-Pacific: The largest market for extrusion coatings
Asia-Pacific is the global forerunner in the global Extrusion Coatings Market, in terms of value and volume, and is expected to continue till 2021. Countries in this region such as China, India, Japan, South Korea, Malaysia, and Indonesia are witnessing significant increase in the use of extrusion coatings for packaging in the food & beverages industry. This growth is mainly due to the rapid economic growth and increasing population. Globally, China is projected to be the fastest-growing market between 2016 and 2021.
The extrusion coatings market has a few global players competing for their market share. These companies are actively investing in various strategies such as new product developments, acquisitions, and expansion projects globally to increase their market share. Major players such as The Dow Chemical Company (U.S.), AkzoNobel N.V. (Netherlands), Mondi Plc. (Austria), Exxon Mobil Corporation (U.S.), Bobst Group SA (Switzerland), and others have adopted various organic and inorganic developmental strategies.
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