Extrusion Coating Market Size and Growth
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According
to our research report, the Extrusion Coatings Market Size was capitalized at
USD XX Million in 2018. The Extrusion Coatings Market is expected to exceed USD
XX million by 2023 and grow at a compound annual rate of XX% from 2018 to 2023.
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Extrusion
Coating Market Overview:
Extrusion coating is a very
versatile industrial process that is used to apply an extruded polymer strip to
a substrate. Extrusion coating is widely used in various industries, such as
construction and construction, automotive, consumer goods, imaging, medical and
pharmaceutical applications and industrial applications.
It includes a variety of
applications such as liquid containers, aseptic beverage containers, toothpaste
tubes, photographic films, flexible packaging, industrial and industrial
packaging, transport packaging, bags, envelopes and medical and hygiene care. This
coating helps reduce VOC emissions, improves quality, reduces costs and
increases productivity.
Extrusion Coating Market Growth Drivers and Restraints:
The growing demand in the food and
beverage, and automotive packaging sectors is one of the key factors in the
extrusion coating market. Flexible packaging is an important application
segment of this market, which is used mainly in food packaging such as bakery
products, dairy products, frozen foods, meats and poultry, candy and cookies.
Flexible packaging offers a variety of benefits, such as lower costs, greater
ease of use for the consumer, longer shelf life, an environmentally friendly
environment and the ability to maintain the freshness of products. Extrusion
coating is widely used in the automotive sector to provide many benefits, such
as wear resistance, reinforcement, weight reduction and acoustic improvement.
The increase in the prices of raw
materials, crude oil and natural gas are some of the factors that hinder the
growth of the market. However, the development of renewable based polymers
further improves the growth opportunities for the market in a variety of
applications.
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Extrusion Coating Market Geographical Segmentation:
Geographically, Asia Pacific
followed by Europe and North America is expected to dominate the extrusion
coating market during the forecast period. This is mainly due to the rapid
economic and industrial expansion of the developing economies of the
Asia-Pacific region, such as India, Malaysia, Vietnam and Indonesia. The
extrusion coating is adopted by most builders to make the infrastructure
presentable and protect it from adverse weather conditions. It is also expected
that countries such as the United States, Germany and Brazil will grow
significantly due to the growing demand for food packaging. Government
initiatives to reduce food waste and recent advances in green packaging help
manufacturers meet the demand for recyclable products, which will lead to the robustdevelopment
of the extrusion coating market.
Keyplayers of
the Extrusion Coating Market:
Major players active in the extrusion coating market
are The Dow Chemical Company, Akzo Nobel N.V., The Sherwin-Williams Company,
PPG Industries Inc., and Valspar Corporation. These companies are actively
investing in various strategies such as acquisitions, new product developments,
and the global expansion of projects to increase their market share.
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