The extrusion coating market is projected to grow from USD 6.3 billion in 2024 to USD 7.5 billion by 2029, at a CAGR of 3.6% between 2024 and 2029. Extrusion coating play a vital role in packaging industry. It is fueled by the growing need for eco-friendly and flexible packaging options in a number of industries, including food and drink, medicines, personal care, and home goods. In order to maintain product freshness and increase shelf life, extrusion coating offers vital features such barrier protection against moisture, gases, and light. Furthermore, extrusion coating’s adaptability makes printing possible, providing vivid graphics and branding components that improve product visibility and consumer appeal. Extrusion coating keeps innovating and evolving, meeting the dynamic demands of the modern packaging business as customer preferences shift towards convenience, sustainability, and product differentiation.
Extrusion Coating Market key Players
The major players operating in this business include SABIC (Saudi Arabia), Chevron Phillips Company (US), Cleanse Corporation (US), Exxon Mobil (US), lyondellbasell (Netherlands) and Dow (US).
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Celanese Corporation: Celanese Corp (Celanese) is a technology solutions and specialized materials company. It provides ethylene-vinyl acetate, emulsion polymers, food additives, and advanced engineered materials. Numerous end-use markets, such as paints and coatings, automotive, consumer and medical, industrial, filtration, paper and packaging, chemical additives, construction, food and beverage, energy storage, performance industrial, and textiles, use its products. Celanese runs a network of production plants, technical centers, and commercial offices. The business also oversees the production facilities of its key affiliates. It is operationally present throughout Asia, Europe, and North America. Celanese’s US headquarters are located in Irving, Texas.
In February 2023, The company has expanded the ethylene vinyl acetate (EVA) capacity at its Edmonton, Alberta facility by completing the ultra-low capital project. The primary aim of this expansion is to meet the growing market demand. The company focuses on strengthening the product portfolio by manufacturing a wide range of EVA products including Ateva EVA and Ateva G Medical Grade to serve the industries of solar, wire and cables, food packaging, and medical devices.
Chevron Phillips Company: Chevron Phillips Chemical Company is the joint venture of Chevron U.S.A. Inc. and Phillips 66, established in 2000 by collaborating the chemicals operations of both companies. The company manufactures and supplies olefins and polyolefins, aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping, and polymer resins. It is a prominent supplier of polyethylene resins for extrusion coating and lamination applications. The company has strong hold in North American industry based on volume and it has been providing extrusion coating resins for over 40 years with 33 facilities of manufacturing and research in seven countries across Asia Pacific, South America, North America, Europe and the Middle East & Africa region.
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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.
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