According to the latest report by Future Market Insights, on coated casing market, it is poised to grow with a CAGR of more than 5.0% over the forecast years due to rising urbanization and increasing application across various end-use industries.
The industry is likely to recover from the catastrophes during the middle of the projection period while the demand is likely to surge faster in comparison with the past.
The increasing metropolitanization and population are the key reason for the increasing demand for the casing.
What are the Driving Factors for Coated Casing Market?
The coated casing is the technique used to increase the bonding between the two matters. This technology is massively utilized in food & beverage industry to maintain the flavours of preserved foods as well as in electronic industries to protect the items from damage.
The increase in the population is elevating the dependence of people on various goods resulting to increase the demand for product as rising cost of the economic balance in the lifestyle of people changes.
Coated casing increases the shelf life of products such as pipeline and other electronic goods by preventing them from corrosion while the utilization in the food and beverage industries is done to maintain the taste and flavours.
The increasing usability of products due to rapid swelling prices of various commodities has propelled the manufacturers to come with various innovative ideas to make the coated casing material have a longer life.
Demand would undoubtedly be accelerated by expected developments in end-use industries, resulting in rapid penetration. The market is expected to open up vast potential opportunities as a result of the aforementioned primary features.
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COVID-19 Impact on Coated Casing Market
COVID-19 has a stringent effect on the coated casing market due to a major effect on the supply and demand of the product. During this period there was a halt in various infrastructure actives as well a change in the eating behavior of people towards the preserved food which has resulted in a decline in demand of the product.
The other factor affecting the coated casing market are the various regulation by the government to stop the proliferation of virus such as the delivery of the various product was regulated or stopped for some time.
This led to a decline in revenue generation for many of the manufacturers and created a dip in the soaring demand for the product.
Global Outlook of Coated Casing Market
In the report of “Global Coated Casing Market,” the prominent region included are North America, Latin America, Europe, South Asia & Oceania and the Middle East and Africa.
Europe is the leading player in the industry due to the high demand for sausages in the region. Germany is the foremost consumer of meat sausages. According to the Federal Ministry of Food and Agriculture, there in total per capita consumption of meat includes 57.3% of pork which needs to be transformed into sausages, as a result, increasing the demand for coating.
Following Europe is East Asia and North America due to rising in the construction facility and being the major industrialized region. The US in North America is the major industrialized country as 26% of the population is directly or indirectly involved in manufacturing activities.
While in East Asia there is a high demand for meat and meat products also the country is the foremost exporter of various animal goods which has directly boosted the dependency on the coated casing.
South Asia and the Middle East and Asia are expected to gain the market share due to the robust spending on development and raising the economic level of the country.
During the projected period, Latin America is expected to grow at a slow pace and account for a tiny portion of the global market.
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US and China Coated Casing Market
US and China are the developed countries having elevated standards of living and higher disposable income because of expanding meat consumption and spending trends, the coated casing industry in the United States and China is likely to grow.
China is the global leader in the production of chemicals so the demand for the coated casing is high in the region for the prevention of pipelines from corrosion and get purified chemicals without impurities.
Who are the Key Manufacturers of Coated Casing Market?
The prominent players of coated casing are
WLD steel
Elshazly Casings Company
ABTER STEEL
DAT-Schaub Group
World Casings Corporation
Viskase Companies
Rugao Qingfeng Casing
Kalle
Natural Casings Company
Almol
MCJ Casings etc.
Some of the leading supplier for the market are
SPM - SOCIÉTÉ PYRÉNÉENNE DE MÉTALLURGIE
SERCO
There are lot of players in the market. Players are aggressively pursuing a substantial portion of the market, utilising both organic and inorganic expansion strategies. Alliances, acquisitions, and a steady expansion of their global internet sales and distribution network were the main goals.
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Key Segment
Method
Artificial Casing
Traditional Casing
Type
Surface casing
Intermediate casing
Production casing
Drilling casing
Material Type
Painted Steel
Coated Steel
Real parchment
Protein coated woven fabric
Hardened protein
Woven fabric
Plastic coated woven fabric
Application
Food and Beverage
Oil and Gas Industries
Chemical Industries
Cosmetic Industries
Maritime industries
Others
Region
North America
US & Canada
Latin America
Brazil, Mexico, Argentina & Rest of Latin America
Europe
Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
East Asia
China, Japan, South Korea
South Asia
India, Thailand, Malaysia, Indonesia and Rest of South Asia
Oceania
Australia and New Zealand
Middle East and Africa
GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
