Aluminum Foil Market Size, Share, Growth, Regional Trends, Business Opportunities, Competition and Forecast to 2030
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Increasing prevalence of using aluminum foil for packaging, the food sector, pharmaceuticals, cosmetics, and industrial applications.
VANCOUVER, B.C., CANADA, January 31, 2023 /EINPresswire.com/ -- The size of the global market for aluminium foil was USD 25.34 billion in 2021, and it is anticipated to grow in value at a CAGR of 5.5%. During the projected period, factors like accessibility, dependability, environmental sustainability, flexibility, high barrier protection, and lightweight aluminium finding increased use in foil and packaging sectors would drive market revenue growth. Due to its capacity to protect goods from damaging substances including oxygen, fats, oils, water vapour, ultraviolet radiation, and light while preserving their optimal quality and flavour, aluminium foil is becoming more and more important in the packaging sector. Additionally, aluminium foil is frequently utilised in aseptic packaging to create sustainable and environmentally friendly packaging, which is fueling market revenue growth.
In addition, the market for recyclable and organic products is growing, which is positive for the industry that makes aluminium foil. The sector is seeing a growth in demand as a result of the use of aluminium foil in cans for beverage packaging. A further factor that is anticipated to contribute to the expansion of the aluminium foil market's revenue is the rising use of aluminium trays and packed boxes manufactured from aluminium containers in the food and beverage sector. Plastic waste has become the main environmental issue due to the rising production and use of plastics. Due to heightened awareness of plastic pollution and its negative impacts on the environment, governments in numerous nations have taken action to minimise the creation of plastic garbage. These actions include plastic recycling and the passage of legislation.
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Some Key Highlights from the Report
On October 25, 2021, Johnson Control gave its building managers the authority to monitor sustainability, health and wellness indicators, and waste, water, and energy use while minimising a facility's overall carbon footprint.
During the projection period, the pouches segment is anticipated to post the quickest revenue CAGR. The market's most flexible packaging solutions, which are sturdy and offer the best protection against moisture, chemicals, dust, and other elements that could compromise the quality of stored items, are predicted to be the main drivers of revenue growth. Due to their small weight, aluminium foil pouches are extremely useful and portable. Additionally, producers have a wide range of possibilities for making pouches with lower manufacturing costs and better profitability than plastic, which results in a less carbon-impactful product. Aluminum can be recycled, giving producers a variety of options.
In 2021, the packaging segment had the biggest revenue share. This is a result of the growing demand for prepared, packaged foods, which has helped to significantly improve the revenue growth for aluminium foil packaging. For instance, the food business in the United States contributes around 5% of the GDP, and demand for packaged dairy products with protein is rising. As a result, the aluminium foil packaging industry is anticipated to soar and fuel revenue growth.
During the forecast period, the pharmaceutical segment is anticipated to post the quickest revenue CAGR. Aluminum foil is only used in blister packaging and lamination-based pouches and bags for the pharmaceutical industry. Tablets, capsules, and candies are frequently packaged using these types of containers. Aluminum foil is favoured over all other packaging because it shields pharmaceuticals from outside influences and keeps them from being contaminated.
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Competitive Terrain:
The global Aluminum Foil industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Key players in the market include Amcor Plc, Novelis - Hindalco Industries Limited, Zhejiang Junma Aluminium Industry Co., Ltd., Alu Flex Pack AG, Danpak, Stamperia Carcano Giuseppe Spa, Comital SpA, Henan Huawei Aluminum Co., Ltd, Bachmann GmbH, Alufoil Products Pvt. Ltd., and Eurofoil.
Emergen Research has segmented the global aluminum foil market based on product type, thickness, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
Foil Wrappers
Pouches
Blister Packs
Collapsible Tubes
Others
Thickness Outlook (Revenue, USD Billion; 2019-2030)
07 mm
09 mm
2 mm
4 mm
Application Outlook (Revenue, USD Billion; 2019-2030)
Packaging
Industrial
Insulation
Technical
Others
End-use Outlook (Revenue, USD Billion; 2019-2030)
Pharmaceuticals
Food & Beverages
Consumer Goods
Others
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Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Aluminum Foil market?
What are the key product types and applications of the Aluminum Foil industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Aluminum Foil market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Aluminum Foil Market by 2030?
Key reasons to buy the Global Aluminum Foil Market report:
The latest report comprehensively studies the global Aluminum Foil market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
The report offers an insightful analysis of the regional outlook of the market.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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