Key Market Overview:
Aluminum Foil Market was worth USD 23.9 billion in 2021 and is expected to grow at a CAGR of 5.45% during the forecast period (2022-2030) to reach USD 38.53 billion by 2030.
Aluminum is the second most widely used metal after steel. Its strength and ability to ensure product freshness make it ideal for many forms of packaging. It provides a barrier to light, oxygen, and bacteria allowing safe storage of goods for a longer duration. The high resistance, insulation, and low cost of aluminum foil make it suitable for many industrial applications such as the insulation of pipes and ducts. Aluminum foil packaging has seen tremendous growth because of its corrosion-resistant, hygienic, and non-toxic properties. Moreover, the rise in the demand for recyclable and organic products is further accelerating the global market. The market is seeing ever-increasing demand due to the use of aluminum cans in the beverage industry. For instance, Polfarmex invested in a new blister pack in November 2021, which will double the company’s production capacity by 60%.
In 2021, the United States of America was the largest market in North America, and this pattern is expected to continue throughout the forecast period. The automotive, FMCG, and food and beverage industries all make extensive use of the product. The country has also invested around USD 1589 billion in the construction industry owing to the non-resistant and insulating properties of aluminum. Furthermore, to protect the domestic manufacturing sector, the United States imposed anti-dumping duties on countries like Oman and China for aluminum products like foils. As a result, aluminum foil market demand is expected to rise during this forecast period as a result of the country’s efforts to boost manufacturing in various end-use industries.
The material which has become extremely important in industries is aluminum. Its scope of application is wide because of its properties like high durability, and electrical and thermal conductivity. These properties make it suitable to use in many industries. Its low cost attracts many industries to use aluminum as a raw material in preservation and insulation. Another major advantage of using aluminum foil is that it can be recycled several times without losing its characteristic properties. Therefore, this ever-increasing demand for aluminum foil packaging in every industry is driving the growth of the global market.
The fluctuating prices of raw materials suppress the expansion of the aluminum foil market during the preojected period. Moreover, aluminum being a metal is quite difficult to dispose-off and requires proper recycling procedures. The lack of appropriate recycling procedures may further impede the expansion of the market during the forecast period. This factor limits the incorporation of aluminum foil in several industries.
Government regulations governing food safety and quality encourage businesses to develop effective packaging solutions that prevent food contamination. In addition, efficient recycling procedures will further motivate companies and businesses to incorporate aluminum foil packaging in their day-to-day routines. These factors are expected to create lucrative opportunities for the growth of the market in the forecast period.
The market for aluminum foil has been significantly affected by the COVID-19 pandemic. During the COVID-19 outbreak, the nationwide lockdowns imposed in response to the outbreak had an impact on the supply chain for aluminum foil. As a result, less revenue was collected. Despite this, the rising demand for ready-to-eat foods and pharmaceuticals has provided the aluminum foil industry with significant growth potential. The use of applications for online food delivery and other e-commerce platforms has led to the expansion of the global market.
Aluminum Foil Report Coverage:
|Market Size in 2030 (USD Billion)
|By Product Type
|foil wrappers, pouches, blister packs, and collapsible tubes
|Food & Beverage, Consumer goods, Pharmaceutical Industry, and others
|North America, Europe, Asia Pacific
Latin America, the Middle East, and Africa
|ACM Carcano, Amcor, Eurofoil, Shanghai Metal Corporation, Hindalco Industries Limited, Nicholl Food Packaging, Penny Plate, LLC, Novelis Inc., Alcoa Corporation
By Product Type
Based on the product type, the market is divided into foil wrappers, pouches, blister packs, and collapsible tubes. The foil wrapper segment accounted for the major portion of aluminum foil market share. This segment’s revenue growth is being driven by the increased use of foil wrappers in tobacco, cosmetics, food, and other products. During the forecast period, the pouches segment is anticipated to experience the highest revenue CAGR. They provide the best protection against moisture and chemicals that could lower the quality of the goods stored, which is expected to drive revenue growth. Because they are lightweight, aluminum foil pouches are convenient to transport. Blister packs are another segment majorly used in the pharmaceutical industry to package capsules and tablets. Collapsible tubes are used in the medical industry to store creams and ointments. They have soft thin walls that can be easily bent and collapsed.
The end-user segment is divided into food & beverage, consumer goods, pharmaceuticals, and others. The food & beverage sub-segment held the largest revenue share in 2021. This is because people are buying more ready-to-eat meals due to their busy schedules. Aluminum pouches and containers are frequently used for the packaging of dry foods and beverages. The pharmaceutical industry uses aluminum foil for blister packaging and lamination-based pouches and bags for tablets and capsules. Companies have also started to use aluminum foil to protect tobacco products due to its unique barrier properties from moisture, bacteria, and deterioration. Therefore, the use of aluminum foil wraps will be increased with the rising tobacco industry.
The aluminum foil packaging market is greatest in the Asia Pacific accounting for 53.1% of the total aluminum foil market statistics. In the Asia-Pacific region, consumer disposable income and rising living standards have led to an increase in the demand for packaged goods. Moreover, rising industrial and manufacturing activities have also led to an increased usage of aluminum foils. This further leads to the regional expansion of the market.
North America is expected to make a significant contribution to the aluminum foil packaging market over the anticipated period. Blister packages and other flexible packaging options are increasingly favored by food and pharmaceutical manufacturers in the United States. For instance, the amount of cheese sent by the United States to China, South Korea, and Mexico surged by 25%. As a result, the usage of aluminum for packaging is also increased resulting in the market’s expansion.
Aluminum Foil Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and Application launches have accelerated the growth of the Sample Preparation market. Key players in the market include-
- ACM Carcano
- Shanghai Metal Corporation
- Hindalco Industries Limited
- Nicholl Food Packaging
- Penny Plate, LLC
- Novelis Inc.
- Alcoa Corporation
- In July 2018, a company named Novelis Inc. acquired Aleris Corporation to improve its product portfolio to serve the Asian markets.
- In November 2019, Danpak was successful in launching a new range of aluminum foil products. This development improved the company’s revenue growth.
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