The growing incidence in the use of aluminum foil for packaging, food industry, pharmaceuticals, cosmetics and industrial use is driving the demand for the market.
Market Size – USD 25.61 billion in 2019, Market Growth – CAGR of 5.9%, Market Trends – High demand for the aluminum foils that can be recycled at a higher and effective rate than plastic and leave minimal waste.
The Aluminum Foil market is projected to reach USD 40.82 billion by 2027. The market is projected to be propelled by an increased prevalence in demand for food & beverage labeling and medicinal products. Characteristics such as electrical conductivity and enhanced thermal, superior formability, non-absorbent to grease, water, light, and oil, and excellent adhesive strength to face structural complexity and chemical and oxidation attacks make it an integral part of Industrial applications.
The rising number of players in the manufacturing industry of aluminum foil containers and the uncertainty in the costs of raw materials are likely to hinder profit margins. The growing number of domestic players in the market for aluminum foil containers and the capacity expansion of existing players lead to a reduction in pricing which eventually shrinks the net profit of manufacturers of aluminum foil containers.
Asia-Pacific, owing to strong aluminum demand in China, dominates the aluminum foil market. The Asia Pacific region’s top consumer base and rising food industry expect significant growth over the projected period. Further development has been propelled by the dramatic rise in food distribution systems and industrialisation.
The coronavirus outbreak has created a major fright and concern pertaining to the contagious diseases. As a preventive preparation, more and more common individuals and commercial sectors are incorporating technologies that can potentially mitigate the spread of the virus outbreak or execute entirely. Many corporations are heavily investing in their R&D and looking into ways to find products that can prevent the harmful bacteria and viruses to affect the food & beverage in residential and commercial sectors. Many companies have already come up with product line-ups that are claimed to prevent the COVID-19.
Key participants include Amcor plc, Zhejiang Junma Aluminum Industry Co., Ltd., Novelis Inc., Aluflexpack, Danpak International B.V., Carcano, Comital SpA, Bachmann Aluminium GmbH, PT Aluprima Pacific Industries (ALUPAC), Alufoil Products Pvt. Ltd., Eurofoil, among others.
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Further key findings from the report suggest
- Supportive government initiatives to promote manufacturing sector in the country are expected to augment the demand for aluminum foil in packaging and industrial applications, thereby creating growth opportunities for market players.
- On account of the COVID-19 pandemic, aluminum foils used for pharmaceutical packaging expected to meet a substantial demand from the consumers, many more pharmaceutical companies would start investing in the R&D to invent newer technological breakthroughs.
- The industry expects to be driven by an increasing awareness of plastic contamination and its harmful environmental consequences from plastic wastes. Increased disposable income and increased knowledge of health are also some of the listed factors which are expected to drive market growth. The rising need for recycling of aluminum waste taking fewer energy and improving the industrial economic viability anticipates pressing demand for aluminum foils, especially in developing regions. The ever-growing concern for health expects to make a significant contribution to the growth of this market.
- The proliferation and expanded presence of online grocery aggregators through e-commerce would raise the market for aluminum foil packaging goods
- In recent years, all of the major market players have invested heavily in R&D initiatives, leading to the invention of several innovative products. Major players aim to enhance their product portfolio by strategic mergers and acquisitions of small and medium-scale companies. In the coming years, therefore, an intense rivalry among players is expected.
- In May 2020, An American start-up firm is setting up aluminum billets in the Midwest Industrial Park, named Element 13 LLC. After being operational, the company will be able to melt scrap to make billets, and essentially aluminium logs of various sizes.
Reports and Data segmented the global aluminum foil industry report based on application, thickness, end-users, and by region for this study:
Application Outlook (Revenue, USD Billion; 2017-2027)
- Blister packs
Thickness Outlook (Revenue, USD Billion; 2017-2027)
End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Food and Beverages
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/aluminum-foil-market
Table of Content:
Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Aluminum Foil Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
Chapter 5. Competitive Landscape
5.1. Market Revenue Share By Manufacturers
5.2. Manufacturing Cost Breakdown Analysis
5.3. Mergers & Acquisitions
5.4. Market positioning
5.5. Strategy Benchmarking
5.6. Vendor Landscape
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