Booming Food & Beverage Industry Augmenting Sales of Extrusion Coatings

With the ballooning sales of electronic items, sporting goods, personal care products, and consumer goods, the demand for extrusion coatings are rising sharply across the globe. Extrusion coating materials are extensively used in the production of papers, paperboards, and packaging films, that are widely required for packaging various consumer products. Moreover, the mushrooming requirement for several types of packaging solutions in various industries is also fueling the demand for extrusion coatings around the world.

The other major factor propelling the demand for these coatings is the expansion of food and beverage industry in several countries, primarily because of the surging population, increasing disposable income, and the growing public awareness about health. Increasing health concerns among people are pushing up the demand for sugar-free, lactose-free, gluten-free, and low-calorie food products. In the food and beverage industry, extrusion coating materials are heavily used in packaging applications.

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According to the International Trade Administration (ITA), the value of the healthcare industry in India was $110 billion in 2016, and it is predicted to rise to $280 billion by 2020, due to the surging requirement for healthcare products and services in the country. This will subsequently propel the demand for extrusion coatings, which will, in turn, fuel the expansion of the global extrusion coating market in the coming years.

Low-density polyethylene (LDPE), ethylene-vinyl acetate (EVA), and polypropylene (PP) are the most widely used types of extrusion coating materials. Amongst these, the demand for LDPE was found to be the highest in the past years. This was because of the extensive usage of the material in snack food lamination and liquid packaging, sealant layers, and folding carton/cup stocks, on account of its ability to easily withstand temperatures up to 80 degree Celsius for a long period of time.

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Geographically, the sales of extrusion coating materials will surge in Europe and Asia-Pacific (APAC) in the coming years, as per the estimates of the market research company, P&S Intelligence. This will be because of the soaring usage of paper-based containers and liquid cartons in the food and beverage industry in these regions. Apart from this factor, the increasing disposable income of people and the rapid price deflation are also augmenting the requirement for packaged food items in these regions.

Hence, it can be safely said that the demand for extrusion coating materials will shoot up in the upcoming years, primarily because of the mushrooming sales of consumer goods and electronic items and the growing requirement for packaged food products all over the world.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.