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After reaching a value of USD 24.49 Billion in 2022, the global aluminum foil market is expected to expand at a CAGR of 6.5% from USD 25.82 Billion in 2023 to USD 39.58 Billion by 2030.
Aluminum foils are widely used for packaging a wide variety of products, including food, beverages, cosmetics, and medicines, therefore the rise of the worldwide packaging sector is likely to drive the growth of the aluminum foils market. The expansion of the aluminum foil market is expected to be fueled by rising demand for both electric vehicles (EVs) and HVAC systems. Aluminum foils are seeing increased production because of the rising demand from the pharmaceutical industry. Aluminum foils are used extensively in the food and beverage industry, the automobile industry, and the fast-moving consumer products industry. The demand for aluminum foils is expected to rise throughout the forecast period as the country works to improve the manufacturing capacities of these end-use sectors.
Electric vehicles (EVs) need batteries, and lithium-ion batteries use aluminum foil electrolytic capacitors. Product demand is expected to rise over the next few years as the electric vehicle market grows. A USD 1.3 billion battery plant for hybrid and electric vehicles is planned by Toyota Motor Corporation for North Carolina, USA, as of October 2021. Due to its many useful qualities, including portability, durability, and resistance to corrosion and moisture, aluminum foils are in high demand in the construction business. Increased spending on infrastructure should lead to a growth in demand for aluminum foils across the country. In the United States, for instance, construction spending rose by 8.2 percent, from $1,469.2 billion in 2020 to $1,589.0 billion in 2021. Rising construction spending is a reflection of increased building activity, which in turn fuels market demand for aluminum foils.
Product-Specific Analysis of the Aluminum Foil Industry
In 2022, wrapper foils made up over 20% of all sales, and this percentage was predicted to remain rather stable throughout the forecast period. Container foil is predicted to see the greatest rate of growth over the forecast horizon. It was around 14% of total income in 2022. In 2022, foil pouches and lids accounted for more than 15.0% of worldwide sales. Aluminum foils have risen to prominence in the packaging industry thanks to their low weight, high strength, low cost, and low difficulty of usage. This has led to more interest in them among diners, homes, supermarkets, and delivery services. Food and drink manufacturers from all over the world have announced growth plans in response to rising demand for pre-packaged goods. In June 2021, for instance, Nestle USA declared that it will spend $100 million expanding its frozen food production in South Carolina, USA. Package consumption will be driven by these investments, which should ultimately promote market expansion during the projection period. Blister pack sales are anticipated to skyrocket thanks to pharmaceutical industry expenditures over the outlook period. In order to expand into new markets including Saudi Arabia, South Korea, Taiwan, and Mexico, India's Glenmark Life Sciences, for example, stated in July 2021 that it will invest USD 78.3 million (INR 600 crores).
Market Segmentation of Aluminum Foil by Application
In 2022, packaging accounted for more than 65 percent of market sales, and its share is only expected to grow. Subsections within this section cover topics such as food and drink, tobacco, medicine, and more. In 2022, food and beverage packaging and end-use generated the most money. As urban areas grow around the world, so does the need for pre-packaged meals. It is expected that this pattern will continue for the foreseeable future. During the projection period, revenue from the industrial sector is expected to grow at a CAGR of 4.7%. HVAC, EV batteries, and other sub-divisions are also available. Finstock is commonly used in HVAC and refrigeration systems. Market growth for aluminum foils is expected to be bolstered by the need for carbon-emissions-reducing energy-saving technology. The world's top air conditioner manufacturers are ramping up output to keep up with surging demand.
Fundamental Changes in the Market
Aluminum foil is in high demand as a packaging material for a wide range of products, including food, beverages, cosmetics, and pharmaceuticals. Aluminum foil sales have increased due to rising consumer demand for eco-friendly packaging options.
Aluminum foil is an essential component of the lithium-ion batteries found in EVs, contributing to the growth of the EV market. The increasing demand for electric vehicles (EVs) bodes well for the aluminum foil market, which may be used in battery production and energy storage solutions.
Aluminum foil is used in the construction industry because of its low cost, durability, and versatility in a wide variety of uses. Aluminum foil is used in roofing, insulation, and HVAC systems, and its popularity has increased thanks to the building industry's investments and infrastructure development projects.
Increasing attention is being paid to environmentally friendly packaging options, and aluminum foil fits this trend perfectly because it is so easily recycled. The demand for aluminum foil has increased as the industry has shifted towards more environmentally friendly packaging options.
Improvements in manufacturing methods, new product developments, and refined surface treatments are only some examples of the technical progress now being seen in the aluminum foil business. Improvements in aluminum foil's functionality and quality will allow it to serve more purposes in more fields.
Report Coverage
Global Aluminum Foil research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Aluminum Foil report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Aluminum Foil competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Aluminum Foil market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Aluminum Foil market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Aluminum Foil market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Amcor Limited, Hindalco Industries Ltd., Reynolds Consumer Products LLC, Novelis Inc., Hulamin Ltd., Ess Dee Aluminium Ltd., Alcoa Corporation, Eurofoil, China Hongqiao Group Limited, Gränges AB, Norsk Hydro ASA, Constellium SE, Ball Corporation, UACJ Corporation, Lotte Aluminium Co., Ltd., Novelis (Aditya Birla Group), Fujian Longking Co., Ltd., Symetal S.A., JW Aluminum, Handi-Foil Corporation
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Aluminum Foil market based on the below-mentioned segments:
Global Aluminum Foil Market, By Product
Wrapper Foils
Containers Foils
Foil Lids
Pouches
Blister Packs
Others
Global Aluminum Foil Market, By End User
Packaging
Industrial
Global Aluminum Foil market, Regional Analysis
Aluminum foils are widely used for packaging a wide variety of products, including food, beverages, cosmetics, and medicines, therefore the rise of the worldwide packaging sector is likely to drive the growth of the aluminum foils market. The expansion of the aluminum foil market is expected to be fueled by rising demand for both electric vehicles (EVs) and HVAC systems. Aluminum foils are seeing increased production because of the rising demand from the pharmaceutical industry. Aluminum foils are used extensively in the food and beverage industry, the automobile industry, and the fast-moving consumer products industry. The demand for aluminum foils is expected to rise throughout the forecast period as the country works to improve the manufacturing capacities of these end-use sectors.
Electric vehicles (EVs) need batteries, and lithium-ion batteries use aluminum foil electrolytic capacitors. Product demand is expected to rise over the next few years as the electric vehicle market grows. A USD 1.3 billion battery plant for hybrid and electric vehicles is planned by Toyota Motor Corporation for North Carolina, USA, as of October 2021. Due to its many useful qualities, including portability, durability, and resistance to corrosion and moisture, aluminum foils are in high demand in the construction business. Increased spending on infrastructure should lead to a growth in demand for aluminum foils across the country. In the United States, for instance, construction spending rose by 8.2 percent, from $1,469.2 billion in 2020 to $1,589.0 billion in 2021. Rising construction spending is a reflection of increased building activity, which in turn fuels market demand for aluminum foils.
Product-Specific Analysis of the Aluminum Foil Industry
In 2022, wrapper foils made up over 20% of all sales, and this percentage was predicted to remain rather stable throughout the forecast period. Container foil is predicted to see the greatest rate of growth over the forecast horizon. It was around 14% of total income in 2022. In 2022, foil pouches and lids accounted for more than 15.0% of worldwide sales. Aluminum foils have risen to prominence in the packaging industry thanks to their low weight, high strength, low cost, and low difficulty of usage. This has led to more interest in them among diners, homes, supermarkets, and delivery services. Food and drink manufacturers from all over the world have announced growth plans in response to rising demand for pre-packaged goods. In June 2021, for instance, Nestle USA declared that it will spend $100 million expanding its frozen food production in South Carolina, USA. Package consumption will be driven by these investments, which should ultimately promote market expansion during the projection period. Blister pack sales are anticipated to skyrocket thanks to pharmaceutical industry expenditures over the outlook period. In order to expand into new markets including Saudi Arabia, South Korea, Taiwan, and Mexico, India's Glenmark Life Sciences, for example, stated in July 2021 that it will invest USD 78.3 million (INR 600 crores).
Market Segmentation of Aluminum Foil by Application
In 2022, packaging accounted for more than 65 percent of market sales, and its share is only expected to grow. Subsections within this section cover topics such as food and drink, tobacco, medicine, and more. In 2022, food and beverage packaging and end-use generated the most money. As urban areas grow around the world, so does the need for pre-packaged meals. It is expected that this pattern will continue for the foreseeable future. During the projection period, revenue from the industrial sector is expected to grow at a CAGR of 4.7%. HVAC, EV batteries, and other sub-divisions are also available. Finstock is commonly used in HVAC and refrigeration systems. Market growth for aluminum foils is expected to be bolstered by the need for carbon-emissions-reducing energy-saving technology. The world's top air conditioner manufacturers are ramping up output to keep up with surging demand.
Fundamental Changes in the Market
Aluminum foil is in high demand as a packaging material for a wide range of products, including food, beverages, cosmetics, and pharmaceuticals. Aluminum foil sales have increased due to rising consumer demand for eco-friendly packaging options.
Aluminum foil is an essential component of the lithium-ion batteries found in EVs, contributing to the growth of the EV market. The increasing demand for electric vehicles (EVs) bodes well for the aluminum foil market, which may be used in battery production and energy storage solutions.
Aluminum foil is used in the construction industry because of its low cost, durability, and versatility in a wide variety of uses. Aluminum foil is used in roofing, insulation, and HVAC systems, and its popularity has increased thanks to the building industry's investments and infrastructure development projects.
Increasing attention is being paid to environmentally friendly packaging options, and aluminum foil fits this trend perfectly because it is so easily recycled. The demand for aluminum foil has increased as the industry has shifted towards more environmentally friendly packaging options.
Improvements in manufacturing methods, new product developments, and refined surface treatments are only some examples of the technical progress now being seen in the aluminum foil business. Improvements in aluminum foil's functionality and quality will allow it to serve more purposes in more fields.
Report Coverage
Global Aluminum Foil research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Aluminum Foil report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Aluminum Foil competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Aluminum Foil market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Amcor Limited, Hindalco Industries Ltd., Reynolds Consumer Products LLC, Novelis Inc., Hulamin Ltd., Ess Dee Aluminium Ltd., Alcoa Corporation, Eurofoil, China Hongqiao Group Limited, Gränges AB, Norsk Hydro ASA, Constellium SE, Ball Corporation, UACJ Corporation, Lotte Aluminium Co., Ltd., Novelis (Aditya Birla Group), Fujian Longking Co., Ltd., Symetal S.A., JW Aluminum, Handi-Foil Corporation |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Aluminum Foil Market from 2021 to 2030.
- Market Forecast for Aluminum Foil Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Aluminum Foil competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Aluminum Foil
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Aluminum Foil market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Aluminum Foil market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Amcor Limited, Hindalco Industries Ltd., Reynolds Consumer Products LLC, Novelis Inc., Hulamin Ltd., Ess Dee Aluminium Ltd., Alcoa Corporation, Eurofoil, China Hongqiao Group Limited, Gränges AB, Norsk Hydro ASA, Constellium SE, Ball Corporation, UACJ Corporation, Lotte Aluminium Co., Ltd., Novelis (Aditya Birla Group), Fujian Longking Co., Ltd., Symetal S.A., JW Aluminum, Handi-Foil Corporation
Primary Target Market
- Market Players of Aluminum Foil
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Aluminum Foil market based on the below-mentioned segments:
Global Aluminum Foil Market, By Product
Wrapper Foils
Containers Foils
Foil Lids
Pouches
Blister Packs
Others
Global Aluminum Foil Market, By End User
Packaging
Industrial
Global Aluminum Foil market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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