Extrusion Coating Market Expected to Retain Dominance & Grow at an Encouraging CAGR to 2023

Extrusion coating 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.

Key Players:

The prominent 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), and Solvay SA (Blegium), among others.

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Coating is a protective or a decorative covering applied to the surface of an object or a substrate. The purpose of applying the coating can be decorative, functional, or protectoral or all of them. The coating offer number of beneficial properties such as excellent gloss, finish and clarity, superior hardness, greater weather ability. Application of Extrusion Coatings provide a barrier against a variety of gases, vapors or liquids and offers smooth surface with very less coefficient of friction (COF). These type of protective coatings exhibit resistance to abrasion, chemical, and provide strong adhesion. The product is majorly used in a variety of end-use applications such as flexible packaging, liquid packaging, transport specific packaging, photographic, mill & industrial wraps, envelopes, and medical or hygiene coating.

The most important physical features 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 global protective coating market has been estimated to grow at significantly higher CAGR to reach over USD 25 billion mark till 2023. This is expected to boost the demand of extrusion coating during the forecast period. The only factor restraining growth of the market during the review period is the higher carbon footprint of the processing of these polymers.

Regional Analysis:

Geographically, there are five key regions in the Global Extrusion Coating Market: Asia Pacific, North America, Europe Latin America, and the Middle East & Africa. Among these regions, Asia Pacific is the largest market owing to the big lead achieved by the region in industrialization, along with an increasing of government funding allocation for the small and medium scale industries. India, Japan and China are the leading markets in this region on accounts of rising demand from major end users such as packaging. North America is following Asia Pacific in terms of market size in the Global Extrusion Coating Market. U.S is the largest markets in this region owing to steady rise in the use of extrusion coating materials, mainly in reconstruction and healthcare sectors. This is expected to favor market of extrusion coating in this region.

Europe is another substantial region in the Global Extrusion Coating Market, which is closely following North America. Major contributors to the regional market in this region are U.K, France, Germany, Italy, and Belgium. Europe has become a prominent market for extrusion, wherein it is majorly used in automotive and industrial applications. This, in turn, is driving the growth of regional market. Latin America is witnessing a steady growth of end use industries in countries namely Brazil and Mexico. The pacifying economic and political scenario in the region would push the growth in regional market forward. In coming years, Latin America and the Middle East & Africa are likely to contribute significantly towards growth of the market owing to increasing global demand for the Extrusion Coating.

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Segmentation:

The Global Extrusion Coating Market is segmented on the basis of type, substrate, application and region.

Based on Type the market is divided into low density polyethylene (LDPE), polypropylene (PP), ethylene vinyl acetate (EVA), and others.

On the Basis of Substrate the Global Extrusion Coating Market is classified into paperboard, polymer films, aluminum foils, and others.

Furthermore, by Application the market is categorized into packaging, photographic, envelope, and others.

Regionally, there five major regions in which the market is divided: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.