China is one of the leading destination for extrusion coatings players. The region accounted for highest sales in 2017. Lower operational cost, availability of cheap workforce and relatively larger market size is driving the overall sales of extrusion coatings in the country.
According to the recently released report by Bekryl, Asia Pacific dominated the global sales, accounting for 43% of global share. Of this, China accounted for close to half of the total sales. The country is not only the leading consumer but also the highest producing nation worldwide. Production facilities is located across Eastern belt of China. Many small scale players could be seen in the belt. These companies primarily trade in export and contractual production for leading companies.
China Extrusion Coatings Market, By Application
Extrusion coatings find its highest usage in liquid packaging. Convenient packaging has been at core focus for manufactures. Changing lifestyle is one such factor driving the demand for convenient packaging. This has led to increase in sales of liquid packaging. High flexibility, low weight, and easy to carry are other key characteristics of liquid packaging. Overall, liquid packaging is expected to register 5.1% CAGR growth during the forecast period, which in turn will create favorable ecosystem for extrusion coatings.
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