Aluminum Foil Market Outlook, Leading Manufacturers, Industry Analysis And Forecast: Grand View Research Inc.

 Aluminum Foil Market  Growth & Trends

The global aluminum foil market size is expected to reach USD 38.40 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2021 to 2028. Demand from the food industry for packaging applications is likely to benefit the market growth over the coming years.

Steady growth in food commodities, a large volume of agricultural production, and incessant food demand fueled by increasing incomes are some of the factors that are projected to push the growth of the food packaging sector globally. Aluminum foil has witnessed an increase in usage in the food and beverage packaging industry owing to various benefits such as flexibility, lightweight, hygiene, non-toxicity, recyclability, and the ability to keep the aroma of the foods intact.

Aluminum foil obstructs light, oxygen, bacteria, and moisture, which has led to its increasing demand in pharmaceutical and food packaging. Aluminum foil finds application in blister packs in the pharma industries. These packs are compact and portable, wherein products such as capsules and tablets are hygienically protected. This ensures the protection of capsules and tablets from the external environment while maintaining the effectiveness of these pharma products.

Industrial applications, mainly batteries, are likely to offer numerous growth opportunities for the market vendors over the coming years. The global demand for overall batteries is expected to increase to nearly 2600 GWh by 2030 from around 280 GWh in 2020, where electric mobility will account for a major share in the market.

LiB is anticipated to witness rapid growth in the overall battery market. For example, in July 2020, BMW Group announced a partnership with North volt and Umi core to build a plant for the production of LiB cells. Such initiatives are anticipated to augment the demand for aluminum foil in the automotive industry across the forecast period.

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Aluminum Foil Market Report Highlights

• By application, the wrapper foils segment held the second-largest revenue share in 2020. The demand for wrapper foils in households, restaurants, and other food supply chains is projected to keep up the momentum over the long term
• The blister packs application segment is anticipated to remain the fastest-growing segment over the forecast period. These packs are used to protect tablets and capsules in the pharma industry. The recent outbreak of COVID-19 has rapidly increased the usage of blister packs as the demand for various healthcare products has amplified rapidly
• In terms of end use, the packaging segment dominated the market in 2020 and is likely to maintain its position during the forecast period. The expansion of online food delivery platforms such as Meituan Waimai, Ubereats, Delivery Hero, Zomato, and Grubhub is projected to benefit the growth
• Asia Pacific is projected to remain the thefastest-growing regional market from 2021 to 2028. The emerging middle class and the rising population are benefiting the growth of the food and beverage and pharmaceutical industries, which is likely to assist in the market growth

Access Press Release@ https://www.grandviewresearch.com/press-release/global-aluminum-foil-market

Aluminum Foil Market Segmentation

Grand View Research has segmented the global aluminum foil market on the basis of end use, application, and region:

Aluminum Foil End-use Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• Packaging
  • Food & Beverage
  • Tobacco
  • Pharmaceutical
  • Cosmetic
• Industrial

Aluminum Foil Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• Wrapper Foils
• Container Foils
• Foil Lids
• Pouches
• Blister Packs
• Collapsible Tubes
• Others

Aluminum Foil Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • UK.
  • Russia
  • Turkey
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa (MEA)
  • Saudi Arabia
  • South Africa

List of Key Players of Aluminum Foil Market

• Hindalco Industries Limited
• Amcor Plc
• Zhejiang Junma Aluminum Industry
• Huawei Aluminium
• Eurofoil
• ACM Carcano
• Assan Aluminyum

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.