The extrusion coating market is projected to reach USD 5.64 Billion by 2022, at a CAGR of 5.5% from 2017 to 2022. The growth of the extrusion coating market can be attributed to the increased demand for extrusion coating from various end-use industries, such as food & beverages, automotive, construction & building, industrial applications, and others in emerging economies. The growth is also driven by the increased demand from the packaging industry.
New product launches, expansions, and mergers & acquisitions are the key growth strategies undertaken by the market players to maintain and enhance their position in the extrusion coating market. Leading players in this market are also focusing on partnerships to increase their market shares.
Major manufacturers of extrusion coating resins, including Dow Chemical (US), Exxon Mobil (US), Borealis AG (Austria), Celanese Corporation (US), Chevron Phillips (US), DuPont (US), LyondellBasell Industries Holdings B.V. (US), Qenos Pty. Ltd. (Australia), and SABIC (Saudi Arabia) have been profiled in this report. These companies adopted both organic and inorganic growth strategies to strengthen their position in the extrusion coating market.
Dow Chemical (US) is the most active player in the extrusion coating market. It also accounted for the largest share of all the developmental activities undertaken in the extrusion coating market. As part of its strategy, the company focuses on expanding its extrusion coating business by investing into research & development activities, specifically in the Asia Pacific region. The company invested largely to expand its ethylene production capacity in Texas, US in June 2016 and also introduced new products for its market in Asia Pacific in 2013.
Exxon Mobil (US) is another company that has established a strong foothold in the extrusion coating market. The company has adopted the strategy of new product launch to improve its product portfolio and expansion. In April 2016, the company introduced Exceed XP performance polymers which are created to give extreme toughness to films used for food & beverage packaging. The company was also involved in expanding its production capacity of polyethylene in May 2017.
Extrusion Coating Market by Material Type (LDPE, EVA, PP), Substrate (Paper & Paperboard, Polymer Films, Aluminum Foil), and Region - Global Forecast to 2022
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