Zion Market Research, the market research group announced the analysis report titled “Extrusion Coating Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024″
Global Extrusion Coating Market: Overview
Extrusion coating is a coating of a molten mesh of synthetic resin on the substrate; it is used to coat cellulose, notably polyethylene, paper, paperboard, aluminum foils, corrugated fiberboard, and plastic films. Some well-known resins are used in this process such as polypropylene, ethylene vinyl acetate copolymers, ionomers, and polyethylene. Extrusion coating is widely used to coat on thermoplastic material that includes PET, aluminum foil, BOPP film, woven fabric, paper, and others. Different applications of the extrusion coating are flexible packaging, liquid packaging, commercial packaging, transport packaging, photographic, sack linings, industrial wrappings, medical/hygiene, envelopes, and others. LDPE is the basic material that is extensively used in extrusion coating. It possesses several fundamental properties such as sealability and good moisture barrier. LDPE is used in various end-use industries such as medical & pharmaceutical, automotive, building & construction, and others.
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Global Extrusion Coating Market: Growth Factors
Extrusion coating is in high demand in the food & beverages packaging sector this may drive the market in future. Flexible packaging is used for the packaging of snacks, bakery products, biscuits, cereals, and others which help in enhancing the shelf life and freshness of the food products thus making it more consumer-friendly. Liquid packaging such as stand-up pouches, bag-in-box, caps & closures, and bottles are in high demand in the market. These packagings are used to pack wine & spirits, detergents & household cleaning items, and liquids & beverages thus projecting to propel the market.
Global Extrusion Coating Market: Segmentation
The extrusion coating market is segmented on the basis of substrate, material type, application, and regions. The substrate segment is segregated into aluminum foil, paperboards, polymers, papers, films, and others. Based on the material type, the market is fragmented into EVA, polyethylene terephthalate, LDPE, polypropylene, and others. The application segment is classified into flexible packaging, photographic, liquid packaging, commercial packaging, and other applications. The flexible packaging accounted for the largest market share owing to its widespread use in the food packaging industry. Region wise diversification of the market is given by North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Global Extrusion Coating Market: Regional Analysis
The demand for extrusion coating is growing from the packaging and food & beverages industry present in various countries such as the Middle East, Malaysia, India, the U.S., Brazil, Japan, Indonesia, China, South Korea, Germany, and others. Asia-Pacific is the largest market for extrusion coatings globally whereas China has become the leading consumer of the extrusion coatings. The region shows a considerable market growth in the future due to rapid economic expansion.
Global Extrusion Coating Market: Competitive Players
Key market players dominating the extrusion coating market are The Dow Chemical Company, Davis-Standard LLC, Akzonobel N.V., Lyondellbasell, Novus Packaging Inc., and Bobst. Other influencing market players include Exxonmobil, Borealis AG., Mondi Plc., and Eastman Chemical Company.
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Global Extrusion Coating Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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