The extrusion coatings industry is one of the processes used to produce a large range of thin multilayer structures. The coating serves the decorative, functional, or protectoral purpose or all of them. In the extrusion coating of polyethylene, a molten web of extruded polymer is applied as a thin coating onto a substrate which is passing continuously through a nip-roll assembly. The most important physical feature offered by the extrusion coat is the ease with which it will slide or slip over another surface that is its very less coefficient of friction (COF) and gas barrier.
The extrusion coatings market has been estimated to grow at a significantly higher CAGR to reach over the USD $6.78 billion mark by 2030. This is expected to boost the demand of Extrusion Coating during the forecast period. The only factor restraining the growth of the market during the review period is the higher carbon footprint of the processing of these polymers.
Market Segmentation:
The Global Extrusion Coatings Industry 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 Coatings Industry 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.
Competitive Analysis:
Key players in the Global Extrusion Coatings Industry 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.
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The Global Extrusion Coatings Industry is spanned across five key regions namely, Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is the leading region among them owing to the rapid economic growth and growing population, along with rising standard of living of the people in the region. Countries namely India, China, and Japan are the major markets in this region, with China growing at highest rate among them due to the growth in demand from major end use industries. North America is the second most significant region in the Global Extrusion Coatings Industry. U.S. 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. Europe is also a significant region in the Global Extrusion Coatings Industry. The countries namely Germany, U.K, and France, are witnessing a growing demand for extrusion coatings by the automotive, healthcare and food & beverages industry. Latin America is witnessing rise in industrialization along with the pacifying political and economic scenario in Brazil and Colombia. During the forecast period the region is anticipated to hold a significant share of the Global Extrusion Coatings Industry. The Middle East & Africa is holding relatively lesser shares in the Global Extrusion Coatings Industry. It is anticipated to witness growth in coming years on account of hitherto untapped growth opportunities in the construction sector.
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