NEW YORK, April 17, 2018 (GLOBE NEWSWIRE) -- According to the new market research report published by P&S Market Research, global extrusion coating market is projected to reach $4,759.3 million by 2023, economic growth in different regions and expansion in the food and beverage industry are the key factors driving the market growth. Extrusion coating can be defined as the process of applying thin hot films of different types of resins on substrates such as paper and paperboard, aluminum foil, and polymer film. It mainly involves four steps: resin handling or conditioning, substrate handling, material coating, and coated substrate withdrawal.
LDPE is the leading material type in the extrusion coating market and is estimated to contribute more than 70.0% share in terms of value to the market in 2017. This can be attributed to the high melt strength and drawdown properties of the autoclave grades of LDPE, which make them tough and flexible, and suitable for different applications such as food packaging, light-to-heavy duty bag packaging, and textile packaging.
Request to get the sample pages: https://www.psmarketresearch.com/market-analysis/extrusion-coating-market/report-sample
Based on substrate, paper and paperboard is the dominant category, estimated to hold the largest value share, accounting for more than 45.0%, in the extrusion coating market in 2017. The dominant market share of this substrate can be attributed to its high mechanical strength, biodegradability, and printability. The substrate is commonly used in corrugated boxes, milk cartons, folding cartons, bags and sacks, and wrapping paper.
Liquid packaging is the largest application area of extrusion coating materials. It held the largest value share in the extrusion coating market during the historical period and is estimated to contribute more than 40.0% to the market in 2017. This can be majorly attributed to the large-scale use of these materials in liquid packaging applications in the food and beverage industry, which is flourishing at a high rate owing to increasing population and rising income.
The APAC region is estimated to contribute more than 45.0% value share to the extrusion coating market in 2017. During the forecast period, the market in the region is expected to witness the highest growth at a CAGR of 5.0%. This can be attributed to ongoing industrialization and increasing disposable income in the region, which are boosting the growth of different industries utilizing these coating materials for packaging purposes.
Browse report overview with 118 tables and 54 figures spread through 143 pages and detailed TOC on "Extrusion Coating Market" at:https://www.psmarketresearch.com/market-analysis/extrusion-coating-market
In January 2016, the International Monetary Fund (IMF) estimated that the economic growth rate of emerging economies would rise from 4.7% in 2017 to 4.9% in 2018. Growth of industries such as food and beverage, personal care, consumer goods, electronics, sporting goods, and healthcare is contributing to the global economic growth. The global healthcare industry is witnessing significant growth owing to digitalization, introduction of artificial intelligence, rise in the number of diseases, and surge in geriatric population. Besides, increasing income levels, changing lifestyle, and growing population are the factors boosting the demand for consumer goods, electronics, personal care products, and sporting goods, globally. Growing demand for different types of packaging solutions from the above-mentioned industries is contributing to the growth of the global extrusion coating market.
Some of the major players operating in the global extrusion coating market are Borealis AG, Chevron Phillips Chemical Company LP, DowDuPont Inc., Exxon Mobil Corporation, INEOS Group Holdings S.A., LyondellBasell Industries N.V., Mondi Group, Qenos Pty. Ltd., SABIC, and Westlake Chemical Corporation.
More Published Reports by P&S Market Research
Paints and Coatings Market
The industrial paints and coatings market is expected to grow fastest, with a CAGR of 4.3% in terms of volume and 5.6% in terms of value, among the products of paints and coatings.
https://www.psmarketresearch.com/market-analysis/paints-and-coatings-market
Pour Point Depressant Market
On the basis of chemistry, the pour point depressant market for lubricant industry is segmented into polyalkyl-methacrylate (PAMA), styrene esters, and others. Others include oligomerized alkyl phenols, phthalic acid esters, and copolymers. PAMA was the largest chemistry with a share of more than 70.0% in the market in 2016 in terms of revenue.
https://www.psmarketresearch.com/market-analysis/pour-point-depressant-market/report-sample
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact:
P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com