Pune, India, May 18, 2023 (GLOBE NEWSWIRE) -- The global aluminum foil market size is expected to gain momentum owing to the rising demand for aluminum metal in various applications during the forecast period, This information is published by Fortune Business Insights™ in an upcoming report, titled, “Aluminum Foil Market, 2022-2030.”. This versatile material boasts a unique combination of properties that make it the perfect choice for preserving the freshness of food.
The inherent strength of aluminum foil makes it an ideal barrier against the sun's harmful rays, moisture, and air, ensuring that the contents remain fresh and protected. Its flexibility and malleability allow it to mold seamlessly around food, thus minimizing the risk of contamination and spoilage.
Moreover, the thermal conductivity of aluminum foil helps to distribute heat evenly, ensuring that the food is cooked to perfection. Its reflective surface helps to prevent overcooking or burning, resulting in a sumptuous and evenly cooked meal.
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List of Key Players Profiled in the Global Aluminum Foil Market:
- Zhengzhou Keyuan Non-ferrous Metal Materials Co. Ltd.
- VWR International LLC
- All-foils, Inc.
- Aleris Corporation
- Reynolds Group Holdings Limited
- Carcano Antonio S.p.A.,
- Hindalco Industries Ltd.
- Amcor plc
- Plus Pack AS
- Laminazione Sottile S.p.A.
- Loften Foil Co
- Aluflexpack AG
- Constantia Flexibles
- Icont, Aleuro Converting SP. Z.O.O
- Grupo Cuatrogasa
Report Highlights:
| Report Attribute | Details |
| Base Year | 2022 |
| Historical Year | 2019-2021 |
| Forecast Year | 2023-2030 |
| Segments Covered |
|
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2023 to 2030 |
| Geographies Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Global Aluminum Foil Segmentation:
The scope of the study captures the market in terms of volume for regional segmentation whereas for the End-user, type and application are tracked based on revenue generated for aluminum consumption. Aluminum foil is an essential material in laminates and has wide applications in food packaging.
Application: The aluminum foil market is also segmented based on its application. Aluminum foil is widely used in the packaging industry for food and beverages, pharmaceuticals, cosmetics, and personal care products. It is also used in the construction industry for insulation, in the automotive industry for heat exchangers and catalytic converters, and in the electronics industry for capacitors and battery electrodes.
End-User Industries: The end-user industries for aluminum foil are also varied and diverse. The food and beverage industry is the largest consumer of aluminum foil, followed by the pharmaceutical and personal care industries. The construction and automotive industries are also significant users of aluminum foil, primarily for insulation and heat exchange applications.
COVID-19 Impact-
Detrimental Impact of Covid-19 on the Chemical Industry
COVID-19 had a negative impact on the market due to the pandemic, several countries throughout the world went into lockdown, resulting in a drop in Aluminum foil demand from various end-user industries, as all manufacturing activities were halted.
What does the Report Offer?
The report for the aluminum foil market consists of an overview of the related technologies market. Identifying new market prospects and developing focused promotional programs. The research includes data on major drivers, restraints, and opportunities, and a complete analysis of the market share.
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Drivers & Restraints-
The aluminum foil market is influenced by various drivers and restraints that affect its growth and demand. Here are some of the key drivers and restraints:
Drivers:
The aluminum foils are lightweight compared to other packaging materials, reducing the required energy during transportation. Aluminum foils are easily available and more cost-effective than other packaging materials, such as plastic, so aluminum foils are a good choice for food packaging. The increasing demand for packaged food and beverages, coupled with the growing trend of on-the-go eating habits, is driving the demand for aluminum foil in the food and beverage industry.
Packaging is an essential part of the food supply chain in this era because the demand for fresh and safe food is increasing due to consumer health awareness. The aluminum foils are light, easily recyclable, and flexible compared to other packaging materials. Aluminum foil is extensively used in the pharmaceutical industry for packaging medicines, as it offers protection against moisture, light, and air, which can degrade the medicine's effectiveness. Aluminum foil is used in the packaging of cosmetics and personal care products to maintain their freshness and prevent contamination.
Restraints:
The production and disposal of aluminum foil can have significant environmental impacts, such as energy use, greenhouse gas emission, and waste generation. The availability of alternative packaging materials, such as plastic and paper is expected to hamper the market growth in the forecast period. The prices of raw materials used in the manufacturing of aluminum foil, such as bauxite and alumina, are subject to fluctuations in the global market, which can impact the cost of production. Aluminum foil faces competition from other packaging materials like plastics and paper-based packaging, which may be more cost-effective or have better performance characteristics for certain applications.
REGIONAL INSIGHTS
Asia Pacific: The Asia Pacific region is the largest market for aluminum foil, accounting for a significant share of the global demand. The region's dominance is attributed to the growing population, rapid urbanization, and increasing demand for packaged food and beverages, pharmaceuticals, and personal care products. China and India are the leading consumers and producers of aluminum foil in the region.
Europe: Europe is a significant market for aluminum foil, driven by the region's strict environmental regulations and the growing demand for sustainable packaging options. The region's food and beverage industry is a major consumer of aluminum foil, and the pharmaceutical industry is also a significant end-user.
North America: North America is a mature market for aluminum foil, with a stable demand from various industries. The region's food and beverage industry is the largest consumer of aluminum foil, followed by the pharmaceutical and personal care industries.
Competitive Landscape-
the company offers various aluminum foils used in various applications such as packaging, insulation, and industrial uses. Major key players in the aluminum foil market are focusing on business strategies such as acquisition, merging, collaboration, and competitive pricing to obtain a competitive edge. In addition, several key players are expanding their business in foreign countries to expand their product portfolio. The major key players in the aluminum foil market include Zhangjiagang Fineness Aluminum Foil Co. Ltd., Zhengzhou Keyuan Non-ferrous Metal Materials Co. Ltd., VWR International LLC, and All-foils, Inc.
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Frequently Asked Questions (FAQs):
Why is there a shortage of aluminum foil?
Answer: The aluminum shortage that began amidst the 2020 pandemic continues to plague the US now, and for the foreseeable future. Aluminum production and demand shifted with the beginning of the pandemic and country-wide lockdowns.
Is aluminum going to run out?
Answer: Looking farther into the future, other sources claim that things like aluminum might run dry in about 80 years. indicate that rhodium, followed by gold, platinum, and tellurium, are some of the rarest elements in terms of their percentage in the planet's crust and their importance to society
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