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Global Biodegradable Polymers for Extrusion Coating Market InsightJanuary 4, 2022 Comments
The biodegradable polymer for extrusion coating market will continue to maintain a steady upward trend in the next few years. According to the World Knowledge Information (WKI) “Global Biodegradable Polymers for Extrusion Coating Professional Survey Report 2021, Forecast to 2026”, The biodegradable polymer for extrusion coatings market is mainly due to its growing demand in various packaging applications and the promotion of strict environmental regulations for the use of non-biodegradable polymers. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 7.15% base on WKI regression analysis model.
“The increase in demand in the packaging application market brings business opportunities to market participants, and also attracts some new companies to join the competition in the biodegradable polymer market for extrusion coating. Although compared with other polymer products, the biodegradable polymer for extrusion coating is the first choice of downstream market participants. However, the cost price of the biodegradable polymer for extrusion coating is much higher. With the development of science and technology, it may appear alternative products with better performance in the future. Therefore, participants who want to gain more market share must break down technical barriers, research and develop new products to cater market needs.” said Helen, Senior analyst, Chemical industry Market Research Center in WKI.
The market for biodegradable polymers for extrusion coatings is driven by a variety of factors, such as high demand for various packaging applications such as rigid packaging, flexible packaging and liquid packaging. The extrusion coating market has a demand for multilayer webs for personal care and food and beverage packaging. For example, pillow-like pouches for disposables and medical supplies, tubes for cosmetics and personal care products, vacuum packaging for pet food and coffee, etc. The growth in demand for these applications may promote the development of the market. Also, the cumulative food & packaging industries is expected to drive the extrusion coating market under flexible packaging. A number of advantages, such as consumer friendly, long-shelf life and green packaging, among others, are projected to increase its application in the medical, pharmaceutical and industrial sectors in the near future. However, compared with other polymers, the high cost of biodegradable polymers may hinder market growth.
The biodegradable polymers market for extrusion coating comprises major solution providers, such as NatureWorks LLC, BASF SE, Total Corbion PLA, Mitsubishi Chemical Holdings Corporation, Biotech, Novamont S.P.A., Biome Bioplastics, etc.
Segmentation of Biodegradable Polymers for Extrusion Coating Market:
Base on the type, the biodegradable polymer for extrusion coating market is divided into PLA, Starch, PBS, PHA and Others. Among these types, the PLA segment accounted for the largest market share and may see significant growth during the forecast period. PLA can be safely used in the packaging of hot soup, coffee and other hot beverages. It is usually mixed with starch to increase its biodegradability and reduce its cost. The main applications of PLA for extrusion coating are dairy containers, disposable tableware, agricultural mulch films, milk and juice cartons, and planting boxes. PLA is being rapidly adopted because it is easily available and economical to manufacture compared to other biodegradable polymers. On the basis of the application, the market is mainly divided into Rigid Packaging, Flexible Packaging, Liquid Packaging and Others. Among many application markets, the flexible packaging segment is the fastest growing. Flexible packaging is mainly used for various industrial and consumer products. Many brands are switching from rigid packaging to flexible packaging because it has various advantages, such as longer shelf life, low cost, consumer friendliness, ability to maintain product freshness, less energy demand, environmental protection, etc. In Europe, flexible packaging The demand for is expected to be driven by the food industry, especially the baking and grain parts of the industry.
Biodegradable Polymers for Extrusion Coating Market: Regional Analysis
In terms of geography, the global Biodegradable Polymers for Extrusion Coating market has been segmented into:Asia Pacific, North America, Europe, Middle East and Africa, South America. Among all regions, China is expected to maintain a leading position in the biodegradable polymers for extrusion coating market in the Asia-Pacific region. From a macroeconomic point of view, the demand for the biodegradable polymers extrusion coating market is mainly determined by the growing population in the regions such as China, India and the ASEAN countries. The increase in disposable income promotes people’s purchase demand for packaging products, and promotes the development of market demand from an indirect perspective.
Largest share area：Asia-Pacific
Largest share country：China