Aluminum Foil Market Statistics, Share, Analysis and Global...

Aluminum Foil Market Statistics, Share, Analysis and Global Research Report, 2020-2027

Posted 2021-04-02 09:59:45

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The global aluminum foil market is expected to be valued at USD 40.82 billion in 2027 from USD 25.61 billion in 2019, registering a CAGR of 5.9% through the forecast period. Aluminum foil is a thin metal leaf of aluminum that is usually around 0.2 mm in thickness. The foil is extremely pliable and flexible and is mostly used to cover or wrap objects or food products to preserve their quality. Aluminum foil is considered an ideal material for different forms of packaging, owing to its benefits, such as high flexibility, malleability, lightweight, formability strength, and dead fold characteristics. It is available in various forms, such as wrappers, pouches, household foils, thermal insulation wraps, blister packs, heat exchanger fins, pie pans, and containers. Aluminum foil can withstand extreme temperatures and acts as a protective layer for the packaged contents, offering them an extended shelf life and augmented protection.

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The global aluminum foil market has gained significant momentum over recent years due to various market growth-inducing factors. The rapidly growing demand for aluminum foil across the food & beverage, pharmaceutical, e-commerce, and cosmetic & personal care industries is one of the most indispensable factors boosting the global market growth. The escalating demand for fresh and processed food & beverage products has triggered the use of aluminum foil, thereby bolstering the market growth.

The packaging industry is the largest end-user of aluminum foil due to its high durability and ability to safeguard the packaged product against heat, moisture, and bacteria. One of its primary applications is the packaging of food & beverage, cosmetic, and pharmaceutical products. The growing environmental concerns regarding the use and disposal of plastic packaging products have fueled the demand for aluminum foil packaging in the global packaging sector. Governments worldwide have been taking several initiatives for plastic recycling and to reduce plastic waste accumulation. However, such endeavors have also prompted various industries to adopt alternative packaging solutions, such as aluminum foil packaging. Compared to plastics, aluminum foil is recyclable, way more eco-friendly, and economically more viable, which is another significant factor boosting the demand for aluminum foil globally.

Key findings of the report:

Based on application, the wrappers sub-segment is expected to hold the largest market share over the projected timeframe. Aluminum foil wrappers have numerous packaging applications, especially in the food & beverage industry. These are mostly used to wrap chocolate bars, beverage bottlenecks, etc., to provide them with a protective barrier and longer shelf life.
Of the key market regions, the Asia Pacific region has emerged as the leading regional market for aluminum The rising demand for fresh food & beverage products, increasing use of household wrappers and aluminum foil containers, the surging sales of ready-to-eat foods, rise in sales of pharmaceutical products, and strict government norms regarding food safety and quality are the primary factors propelling the growth of the Asia Pacific market.
Key industry participants include Amcor plc, Alufoil Products Pvt. Ltd., Bachmann Aluminium GmbH, Novelis Inc., Aluflexpack, Zhejiang Junma Aluminum Industry Co., Ltd., Danpak International B.V., Comital SpA, Carcano, PT Aluprima Pacific Industries (ALUPAC), and Eurofoil.
In January 2020, Reynolds Consumer Products Inc., recognized for its Reynolds Wrap aluminum foil, raised around USD 1.23 billion in its biggest-ever initial public offering (IPO). The fundraising was mainly backed by Rank Group, owned by the New Zealand-based billionaire Graeme Hart.

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For this report, the global aluminum foil market has been segmented based on thickness, application, end-use industry, and region:

By Thickness (Revenue, USD Billion; 2017-2027)