Extrusion Coatings Market growth by Material and Geography - Forecast and Analysis - 2022-2026

The extrusion coatings market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 4.19% and a CAGR of 5.26% with a market of USD 1.53 billion during the forecast period 2021 to 2026.

This extrusion coatings market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers extrusion coatings market segmentations by material (polyethylene, ethylene vinyl acetate, ethylene butyl acrylate, and others) and geography (APAC, Europe, North America, the Middle East and Africa, and South America). The extrusion coatings market report also offers information on several market vendors, including Akzo Nobel NV, Arkema S.A., Borealis AG, Chevron Phillips Chemical Co. LLC, Davis Standard LLC, DuPont de Nemours Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Corp., Hanwha Corp., INEOS Group Holdings SA, Lucobit AG, LyondellBasell Industries NV, NOVA Chemicals Corp., Qenos Pty Ltd., Reliance Industries Ltd., Repsol SA, SABIC, The Dow Chemical Co., and The Lubrizol Corp. among others.

What will the Extrusion Coatings Market Size be During the Forecast Period?

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Extrusion Coatings Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the extrusion coatings market. In the COVID-19 pandemic, the demand for the extrusion coatings market has been impacted significantly. But a holistic analysis of drivers will help in exact demands and refining marketing strategies to gain a competitive advantage.

Key Extrusion Coatings Market Driver

The increasing demand from the packaging industry is notably driving the extrusion coatings market growth. A significant application area in the global extrusion coating market is flexible packaging. Food products like bakery goods, dairy products, frozen foods, meat and poultry, confectionery, and cookies are commonly packaged in flexible packaging. Flexible packaging has many benefits, including lower costs, consumer friendliness, increased shelf life, environmental sustainability, and the capacity to maintain product freshness. Flexible design, printability, aesthetics, and sustainability are among the important attributes that liquid food packaging must have. Temperature resistance, abrasion resistance, grease resistance, a lower coefficient of resistance, and a slower rate of water vapor transfer are some benefits of using extrusion coatings for liquid packaging. It is also anticipated that the continued expansion of the cosmetics and personal care industry will increase the use of liquid packaging and hence, spur the need for extrusion coatings during the forecast period.

Key Extrusion Coatings Market Trend

The rising demand from the automotive sector is the primary key trend driving the extrusion coatings market growth. Automotive manufacturers are focusing their efforts on increasing vehicle manufacturing globally. Passenger vehicles have become extremely popular with consumers over time due to features such as compact size, stylish designs, and economic value. Passenger cars are becoming an essential component of people's lifestyles. For instance, globally, 79.1 million motor vehicles were produced in 2021, a rise of 1.3% from that in 2020. The rapid infrastructural development in numerous developing nations and the expansion of the automobile sector will lead to the growth of the global extrusion coatings market during the forecast period. Extrusion coating lines have been developed for thermoformable automotive parts. One benefit of extrusion coating technology in the automotive industry is that it enables the creation of car parts (components) made entirely of polypropylene, ensuring that the finished product is completely recyclable. Such factors contribute to the growth of the global extrusion coatings market during the forecast period.

Key Extrusion Coatings Market Challenge

Fluctuating raw material costs is the major challenge impeding the extrusion coatings market growth. The prices of the raw materials used to manufacture extrusion coating materials are highly unpredictable. The prices of polyethylene packaging types, such as LDPE and HDPE, fluctuate frequently as they depend on global crude oil prices (as they are petroleum derivatives). Therefore, their prices fluctuate depending on the prevailing prices of natural gas and crude oil. Such strong fluctuations in global crude oil prices are caused by a systemic demand-supply imbalance in the global crude oil industry. As the raw materials that are used extensively to manufacture extrusion coatings materials, such as HDPE and LDPE, are petroleum derivatives, any fluctuations in their prices can lead to unpredictability in the market, affect production costs adversely, and reduce the profit margins of vendors. Therefore, volatility in global crude oil prices is expected to hamper the growth of the global extrusion coatings market during the forecast period.

This extrusion coatings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global extrusion coatings market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the extrusion coatings market during the forecast period.

Who are the Major Extrusion Coatings Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Akzo Nobel NV
• Arkema S.A.
• Borealis AG
• Chevron Phillips Chemical Co. LLC
• Davis Standard LLC
• DuPont de Nemours Inc.
• Eastman Chemical Co.
• Exxon Mobil Corp.
• Formosa Plastics Corp.
• Hanwha Corp.
• INEOS Group Holdings SA
• Lucobit AG
• LyondellBasell Industries NV
• NOVA Chemicals Corp.
• Qenos Pty Ltd.
• Reliance Industries Ltd.
• Repsol SA
• SABIC
• The Dow Chemical Co.
• The Lubrizol Corp.

 

This statistical study of the extrusion coatings market encompasses successful business strategies deployed by the key vendors. The extrusion coatings market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The extrusion coatings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Extrusion Coatings Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the extrusion coatings market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for the Extrusion Coatings Market?

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54% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the extrusion coatings market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rapid economic expansion and population growth will facilitate the extrusion coatings market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 negatively impacted the extrusion coatings market in APAC. The pandemic significantly impacted various end-user industries, as manufacturing units for extrusion coatings were temporarily shut down in the region. The demand for extrusion coatings also decreased as end-user activities came to a standstill. However, in 2021, the initiation of large-scale COVID-19 vaccination drives led to the lifting of lockdown restrictions in APAC. This led to the resumption of activities in end-user industries, such as construction and automotive.

What are the Revenue-generating Material Segments in the Extrusion Coatings Market?

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The extrusion coatings market share growth in the polyethylene segment will be significant during the forecast period. The most prevalent type of plastic used by consumers by far is polyethylene. The durability of polyethylene is among its most alluring qualities. It can melt at high temperatures and even maintain its characteristics at extremely cold temperatures. It is also inexpensive and highly resistant to chemicals. These factors will facilitate segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the extrusion coatings market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Extrusion Coatings Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.26%
Market growth 2022-2026	$1.53 billion
Market structure	Fragmented
YoY growth (%)	4.19
Regional analysis	APAC, Europe, North America, the Middle East and Africa, and South America
Performing market contribution	APAC at 54%
Key consumer countries	US, China, India, Germany, and France
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Akzo Nobel NV, Arkema S.A., Borealis AG, Chevron Phillips Chemical Co. LLC, Davis Standard LLC, DuPont de Nemours Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Corp., Hanwha Corp., INEOS Group Holdings SA, Lucobit AG, LyondellBasell Industries NV, NOVA Chemicals Corp., Qenos Pty Ltd., Reliance Industries Ltd., Repsol SA, SABIC, The Dow Chemical Co., and The Lubrizol Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Extrusion Coatings Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive extrusion coatings market growth during the next five years
• Precise estimation of the extrusion coatings market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the extrusion coatings industry across APAC, Europe, North America, the Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of extrusion coatings market vendors

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