The coating is either a decorative or a protective covering applied on the surface of a substrate. Extrusion coating offers a wide range of benefits to the substrates such as superior hardness, more exceptional weather ability, excellent gloss, finish, and clarity. Also, the application of extrusion coatings on the surface of a substrate provides an excellent barrier against various liquids and gases & vapors and offers a smooth surface with a very low coefficient of friction (COF). These types of protective coatings exhibit excellent resistance to abrasion, chemicals, and provides strong adhesion to the surface. The product is majorly used in a variety of end-use applications such as liquid packaging, flexible packaging, mill & industrial wraps, transport-specific packaging, photographic imaging, envelopes, and medical or hygiene coating.
The increasing demand for sophisticated packaging and coatings for industrial materials is the primary factor driving the growth of the market. According to the MRFR analysis, the global protective coatings market is witnessing robust growth and is expected to reach over the USD 25 billion by the end of 2023. This, in turn, is expected to fuel the demand for extrusion coatings during the review period. The scope of applications for this product is continuously increasing with the rapid growth of the major end-use industries such as automotive, construction, packaging, and medical. Surging demand for the protective coating on the industrial tools and equipment and the decorative arts in the packaging industry is posing as a factor driving demand for the extrusion coatings in this market. The use of extrusion coating has significantly increased in a bid to protect various types of machinery and equipment which operates in the harsh working environment such as high temperature, pressure, and harmful chemicals. Growing demand for the extrusion coating from the packaging industry and expanding the scope of application for these type of coatings in the healthcare, medical, food & beverages, and construction industries is anticipated to favor the robust growth of this market during the following years. However, the major bottleneck in the growth trajectory of the market is the high carbon footprint, which results from the polymer processing.
Global Extrusion Coatings Market Share, by Application 2018 (%)
Source: MRFR Analysis
The global extrusion coatings market has been segmented into five key regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The market in Asia-Pacific accounted for the largest market owing to rapid industrialization along with an increase of government spendings for the small and medium scale industries. The countries namely, India, Japan, and China are the leading markets in this region, owing to the rising demand from significant end-users such as packaging. In the North American market, the US is the largest markets in this region due to going the use of extrusion coating materials in reconstruction activities and healthcare sectors. Europe is another substantial market for the extrusion coatings, wherein the major contributors to the regional market growth are the UK, France, Germany, Italy, and Spain. In the European market, the product is majorly used in automotive and industrial assembly applications. Latin America and the Middle East & Africa are likely to contribute significantly towards the growth of the market owing to the increasing global demand for the extrusion coating.
The global extrusion coatings market has been segmented based on type, substrate, application, and region.
Based on type, the global market has been classified as low-density polyethylene (LDPE), polypropylene (PP), ethylene-vinyl acetate (EVA), and others.
On the basis of substrate, the global extrusion coatings market has been categorized as paperboard, polymer films, aluminum foils, corrugated fiberboards, and others.
By application, the global extrusion coatings market has been categorized into building & construction, automotive, electronics, imaging, medical, consumer goods, packaging, and others.
The global extrusion coatings market has been studied concerning five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The prominent players operating in the global extrusion coatings are SABIC (Saudi Arabia), Celanese Corporation (US), PPG Industries, Inc. (the US), Formosa Plastics Corporation (Taiwan), Borealis AG (Austria), LyondellBasell Industries Holdings BV (Netherlands), DowDuPont (US), Exxon Mobil Corporation (US), Eastman Chemical Company (US), Reliance Industries Limited (India), Solvay SA (Belgium), The Sherwin-Williams Company (US), Valspar Corporation (US), Akzo Nobel NV (Netherlands), Dura Coat Products, Inc. (US), and The Lubrizol Corporation (US).
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Type, Substrate, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||SABIC (Saudi Arabia), Celanese Corporation (US), PPG Industries, Inc. (the US), Formosa Plastics Corporation (Taiwan), Borealis AG (Austria), LyondellBasell Industries Holdings BV (Netherlands), DowDuPont (US), Exxon Mobil Corporation (US), Eastman Chemical Company (US), Reliance Industries Limited (India), Solvay SA (Belgium), The Sherwin-Williams Company (US), Valspar Corporation (US), Akzo Nobel NV (Netherlands), Dura Coat Products, Inc. (US), and The Lubrizol Corporation (US).|
|Key Market Opportunities||Leading markets in this region, owing to the rising demand from significant end-users such as packaging. In the North American market.|
|Key Market Drivers||Growing demand from the packaging industry is boosting market growth.|
Frequently Asked Questions (FAQ) :
The extrusion coatings market is predicted to touch USD 25 billion by 2030.
The APAC region is expected to command the largest share in the extrusion coatings market.
It finds extensive applications in packaging, medical, automotive, electronics, and others.
Growing demand from the packaging industry is boosting market growth.
High carbon footprint may deter market growth.