Extrusion Coating Market Surges with Rising Demand for Barrier Properties in Flexible Packaging| MarketsandMarkets™

Posted by Jack Martin on May 17th, 2023

The report "Extrusion Coating Market by Material Type (LDPE, EVA, PP), Substrate (Paper & Paperboard, Polymer Films, Aluminum Foil), and Region - Global Forecast to 2022", The extrusion coating market was valued at USD 4.10 Billion in 2016 and is projected to reach USD 5.64 Billion by 2022, at a CAGR of 5.5% during the forecast period. In this study, 2016 has been considered as the base year and 2017 to 2022 as the forecast period for estimating the market size for extrusion coating. The growth of the extrusion coating market across the globe is fueled by the high demand from the packaging industry and increasing global demand for extrusion coatings in Asia Pacific, South America, and Middle East & Africa region.

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LDPE is of great importance due to its easy processing, higher melt strength, and superior optical properties in comparison with linear polyethylene. It has a 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 is recyclable. LDPE is the largest and fastest-growing type segment of polymers used in the extrusion coating market. The growing application of LDPE in various end-use industries such as packaging, automotive, building & construction, medical & pharmaceutical, consumer goods, and others is expected to drive the extrusion coating market in the coming future.

Paper & paperboard is the largest substrate segment. This is due to the superior properties of paperboard such as lightweight, recyclability, low cost, and environment-friendliness. Paper & paperboard is used for packaging various food items such as snacks, vegetables, and others. These factors are expected to drive the growth of the paper & paperboard segment.

Asia Pacific is the global forerunner in the extrusion coating market, in terms of value and volume, and this trend is expected to continue till 2021. Countries in this region such as China, India, Japan, South Korea, and Indonesia are witnessing significant increase in the use of extrusion coatings in the packaging segment of the food & beverages industry. The growth of the Asia Pacific extrusion coating market is also attributed to the rapid economic growth and increasing population that is driving the demand for extrusion coating materials from various end-use industries in this region. China is the fastest-growing market and this trend is estimated to continue till 2022.