Rapid growth of the packaging industry and rising consumer demand from the Food & Beverage (F&B) industry are key factors driving market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, June 11, 2024 /EINPresswire.com/ -- The global extrusion coatings market size was USD 5.50 Billion in 2022 and is expected to register a rapid revenue CAGR of 5.6% during the forecast period. The global extrusion coatings market is experiencing significant growth due to rapid advancements in the packaging industry and increasing consumer demand from the Food & Beverage (F&B) sector. This growth is driven by innovative solutions in extrusion coating processes, catering to diverse applications such as liquid packaging, online shopping, and home delivery.

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Market Overview:

Extrusion coating is a crucial process in the packaging industry, involving the application of thermoplastic polymers on substrates like polyester films, aluminum foil, paperboard, and Biaxially Oriented Polypropylene (BOPP) films. This process is vital for creating durable, flexible, and aesthetically appealing packaging, particularly for liquid products, which require specific attributes like printability, sustainability, and moisture resistance.

Industry Developments:

Leading companies are focusing on innovation to meet market demands and ensure product safety. For instance, Borealis Solution has developed CT7200, a Low-Density Polyethylene (LDPE) product designed for extrusion coating applications. This solution addresses critical industry needs, such as high-volume coating of boards and papers, and lamination of various substrates, providing a versatile and efficient option for manufacturers.

Market Drivers:

The increasing popularity of online shopping and home delivery services is a significant driver for the extrusion coatings market. The process enhances the durability and quality of packaging materials, making them ideal for various products, including food items, electronics, and consumer goods. Additionally, thermal lamination films, produced using extrusion-coated films, are widely used in printed materials like brochures and catalogs, enhancing their durability and moisture resistance.

Challenges:

Fluctuating raw material costs pose a challenge to market growth. The prices of essential raw materials, such as Low-Density Polyethylene (LDPE) and High-Density Polyethylene (HDPE), are prone to significant changes, impacting production costs and market stability.

Emerging Trends:

The construction and automotive industries are increasingly adopting extrusion coating techniques. In construction, extrusion-coated metal is used for roofing, siding, and other building materials, offering protection against corrosion and UV rays. In the automotive sector, innovative coatings enhance durability, meet aesthetic expectations, and comply with environmental standards.

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Market Segmentation:

The global extrusion coatings market is segmented by material, application, and end-use industry.

Material Insights:

Ethylene Vinyl Acetate (EVA): Expected to dominate due to its superior bonding, flexibility, and impact resistance, making it ideal for food packaging and solar cell encapsulation.

Polyethylene (PE): Anticipated to grow steadily due to its versatility and widespread availability, used in applications like flexible packaging and industrial goods.

Application Insights:

Liquid Packaging: Leading the market with high demand for packaged beverages and personal care products. Extrusion coating enhances barrier properties and extends the shelf life of liquid products.

Personal and Cosmetic Packaging: Growing due to rising environmental awareness and the adoption of biodegradable materials for packaging.

End-Use Industry Insights:

Construction: Fastest-growing segment, driven by the need for durable and weather-resistant building materials. Extrusion coatings provide thermal and acoustic insulation, reducing energy costs.

Packaging: Significant growth due to the rising preference for e-commerce services and the diverse applications of extrusion coatings in food, pharmaceutical, and personal care packaging.

Extrusion Coatings Top Companies and Competitive Landscape

The global extrusion coatings market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective extrusion coatings solutions in the market.

Some major players included in the global extrusion coatings market report are:

Akzo Nobel N.V.

Borealis AG

Celanese Corporation

Chevron Phillips Chemical Company LLC

Davis Standard

DuPont

Dura Coat Products

LyondellBasell Industries Holdings B.V.

Optimum Plastics

PPG Industries Ohio, Inc.

Qenos Pty Ltd.

SABIC

The Lubrizol Corporation

The Sherwin-Williams Company

Transcendia

Westlake Corporation

Dow

Exxon Mobil Corporation

NOVA Chemicals Corporate

Eastman Chemical Company

Extrusion Coatings Latest Industry News

On 4 October 2023, PPG announced the launch of GLADIATORTM XC Matte Extreme coating, a premium, low-gloss urethane protective coating that can be used in industries and applications like automotive sector, light industrial, marine industry, RVs, emergency service vehicles, and outdoor recreational equipment. Gladiator XC coating is robust, textured, low-gloss matte, flexible, and long-lasting. It has a lengthy shelf life, a rapid curing time, exceptional fade resistance, UV stability, and complies with Volatile Organic Compounds (VOC) requirements in every state in the United States.

On 14 December 2021, Davis-Standard introduced a new small extruder designed for extrusion coating applications called the CHP. Due to its compact size and lesser weight, the machine is easy to install to an existing carriage or platform structure. This gives processors a replacement or coextrusion addition that saves space and boosts output and line speed. This design places a strong emphasis on aspects that increase profitability such as reducing waste of raw materials, improved outputs, and encouraging application development. The CHP is designed to function exceptionally well, with faster transition times and far higher processing rates than traditional extruders.

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Extrusion Coatings Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global extrusion coatings market on the basis of material, substrate, application, end-use industry, and region:

Material Outlook (Revenue, USD Billion; 2019-2032)

Polyethylene

High Density Polyethylene (HDPE)

Low Density Polyethylene (LDPE)

Others

Ethylene Butyl Acrylate (EBA)

Ethylene Vinyl Acetate (EVA)

Polyethylene Terephthalate

Polypropylene

Others

Substrate Outlook (Revenue, USD Billion; 2019-2032)

Paperboard and Cardboard

Metal Foils

Polymer Films

Others

Application Outlook (Revenue, USD Billion; 2019-2032)

Liquid Packaging

Flexible Packaging

Medical Packaging

Personal and Cosmetic Packaging

Photographic Film

Industrial Packaging

Others

End-use Industry Outlook (Revenue, USD Billion; 2019-2032)

Packaging

Personal Care

Pharmaceutical

Food & Beverage (F&B)

Construction

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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