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Extrusion Coating Market Share

ID: MRFR//3684-HCR | 140 Pages | Author: Anshula Mandaokar| June 2024

Market share positioning strategies in the Extrusion Coatings Market are crucial for companies aiming to establish a competitive edge and expand their market presence. Several key strategies are employed to enhance market share:

Product Differentiation: Companies focus on developing unique and innovative extrusion coating products to differentiate themselves from competitors. This may involve introducing coatings with superior performance characteristics such as enhanced durability, heat resistance, or barrier properties. By offering products that meet specific customer needs and offer distinct advantages, companies can attract a larger share of the market.

Technological Innovation: Investing in research and development to innovate new coating technologies and processes is essential for gaining a competitive advantage. Companies strive to develop cutting-edge extrusion coating methods that improve efficiency, reduce costs, or enable the production of coatings with novel functionalities. Technological innovation allows companies to stay ahead of the curve and capture a larger market share.

Strategic Partnerships and Collaborations: Forming strategic partnerships and collaborations with other companies or research institutions can be an effective strategy to strengthen market position. Collaborations may involve joint product development, sharing of resources and expertise, or accessing new markets through distribution agreements. By leveraging the strengths of partners, companies can enhance their capabilities and expand their reach in the extrusion coatings market.

Customer Relationship Management: Building strong relationships with customers is essential for securing market share. Companies focus on understanding customer needs, providing exceptional service, and maintaining open communication channels to foster loyalty and repeat business. By delivering value-added services, such as technical support or customization options, companies can retain existing customers and attract new ones, thus increasing market share.

Geographical Expansion: Expanding into new geographical markets is a strategic approach to grow market share. Companies may target regions with high demand for extrusion coatings or where competition is less intense. Establishing a presence in new markets may involve setting up manufacturing facilities, distribution networks, or partnering with local distributors. Geographic expansion allows companies to tap into new opportunities and increase their market share.

Brand Building and Marketing: Building a strong brand image and implementing effective marketing strategies are essential for gaining market share. Companies invest in branding initiatives, advertising campaigns, and promotional activities to increase brand awareness and visibility. By positioning themselves as reliable and reputable suppliers of extrusion coatings, companies can attract customers and gain market share.

Cost Leadership: Implementing cost leadership strategies can help companies gain a competitive advantage and capture market share. This may involve optimizing production processes, streamlining operations, or negotiating favorable supplier contracts to reduce costs. By offering competitive pricing while maintaining product quality, companies can win over price-sensitive customers and increase market share.

Continuous Improvement and Quality Assurance: Striving for continuous improvement and maintaining high-quality standards are essential for retaining market share. Companies invest in quality assurance measures, such as rigorous testing and quality control processes, to ensure that their extrusion coatings meet customer expectations and industry standards. By consistently delivering reliable and high-performance coatings, companies can build trust and loyalty among customers, thus securing market share.

Extrusion Coatings Market Overview


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.Extrusion Coatings Market is projected to be worth USD 6.78 Billion by 2030, registering a CAGR of 4.4% during the forecast period (2021 - 2028).


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 (%) Extrusion Coatings


Source: MRFR Analysis


Regional 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.


Segmentation


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.


Key Players


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).


Intended Audience




  • Extrusion coatings manufacturers




  • Traders and distributors of extrusion coatings




  • Research and development institutes




  • Potential investors




  • Raw material suppliers




  • Nationalized laboratory



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