Flexible packaging is the fastest-growing application segment of the extrusion-coating market. Flexible packaging is required in the food packaging sector as it provides various advantages such as longer shelf life, less cost, consumer friendly, capable of retaining freshness of products, green packaging, and others. They are majorly used in bakery products, cereals, biscuits, snacks, and other food products. This packaging is also used in medical & pharmaceutical, consumer durables, transportation, and industrial applications.
Asia-Pacific is the largest market for extrusion coatings globally, with China being the most dominant market in the region. The market in the region is also witnessing the highest growth rate, which is attributed to the rapid economic expansion undergoing in the region. Further, rapid development in the packaging industry is vigorously driving the demand for extrusion coatings for food & beverages, medical & pharmaceutical, and other end-use industries in the region.