CHICAGO, July 31, 2024 /PRNewswire/ -- The
report "Extrusion Coating Market by
Material Type (LDPE, EVA, PP, PET), Substrate (Paper, Paperboard,
Aluminium Foils, Polymer Films), Application (Packaging, Liquid,
Flexible, Commercial, Photographic), and Region - Global Forecast
to 2029", is projected to reach a market size of
USD 7.5 billion by 2029 from
USD 6.3 billion in 2024, at a CAGR of
3.6%.
Asia pacific is the one of the
largest markets for extrusion coating. The demand for extrusion
coating is experiencing significant growth in packaging industry.
Emerging nations such as China,
India, Brazil, and Mexico are expected to play a crucial role in
driving the global extrusion coating market forward. Asia Pacific extensive industrial base and
rapid urbanization drives the extrusion coating market.
China and India's growing manufacturing sector coupled
with growing population drives the demand for extrusion
coating.
Browse in-depth TOC on "Extrusion Coating Market".
290 – Tables
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"Aluminium Films by substrate type segment is expected to
register second highest CAGR of the extrusion coating market during
the forecasted period."
Growth in the aluminum foil substrate is fueled by a number of
drives, one of which is the extensive use of aluminum foil in
packaging because of its superior ability to block light, moisture,
and gasses. It is especially well-liked in the food and
pharmaceutical industries, where it is crucial to preserve the
integrity and freshness of products. Aluminum foil's adaptability
also makes it useful for a variety of applications, including
laminates, blister packs, and flexible packaging, which helps
explain its rising market share. The need for aluminum foil in
extrusion coating applications is anticipated to rise gradually,
establishing it as a significant market niche as sectors place an
increased emphasis on recyclable, lightweight, and environmentally
friendly packaging solutions.
"Middle East &
Africa is likely to be the second
fastest growing extrusion coating market during the forecast
period."
Rapid growth and urbanization in the region have increased
demand for packaging materials, especially in the food and beverage
industries. Extrusion coating provides a low-cost alternative for
improving package durability, moisture resistance, and barrier
qualities, all of which are critical for maintaining food quality
in hot regions. Furthermore, the region's growing population and
rising disposable incomes have increased consumption of packaged
goods, boosting need for sophisticated packaging solutions.
Furthermore, favorable government policies and expenditures in
infrastructure development have boosted the industrial sector,
creating a favorable climate for the expansion of firms that use
extrusion coating technology. As a result, the Middle East and Africa have become crucial growth regions in
the worldwide extrusion coating business, attracting major
investments and innovation to fulfill the rising need for high
performance packaging solution.
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"In Asia Pacific region china is likely to be the second
fastest growing extrusion coating market during the forecast
period."
China's increasing
industrialization and urbanization has resulted in increased
consumption of packaged goods in a variety of industries, including
food, beverages, pharmaceuticals, and consumer products. Extrusion
coating is a versatile choice for improving the performance of
packaging materials, including features such as moisture
resistance, barrier protection, and printability that are critical
for product integrity and attractiveness. Furthermore, China's thriving e-commerce industry has
increased the demand for creative packaging solutions that can
ensure product safety and shelf appeal throughout shipping and
storage. Government measures to assist sustainable development, as
well as legislation to promote food safety standards, have
accelerated the implementation of innovative packaging technologies
such as extrusion coating. These elements together have positioned
China as a vibrant market within
the global extrusion coating business, drawing investments in
technology.
The key players profiled in the report include are SABIC
(Saudi Arabia), Chevron Phillips
Company (US), Cleanse Corporation (US), Exxon Mobil (US),
lyondellbasell (Netherlands) and
Dow (US).
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