New York, NY -- (SBWIRE) -- 02/23/2021 -- The Aluminum Foil market is projected to reach USD 40.82 billion by 2027. The market is projected to be propelled by an increased prevalence in demand for food & beverage labeling and medicinal products. Characteristics such as electrical conductivity and enhanced thermal, superior formability, non-absorbent to grease, water, light, and oil, and excellent adhesive strength to face structural complexity and chemical and oxidation attacks make it an integral part of Industrial applications.
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Leading Players Profiled in the Report Include:
Amcor plc, Zhejiang Junma Aluminum Industry Co., Ltd., Novelis Inc., Aluflexpack, Danpak International B.V., Carcano, Comital SpA, Bachmann Aluminium GmbH, PT Aluprima Pacific Industries (ALUPAC), Alufoil Products Pvt. Ltd., Eurofoil, among others.
The rising number of players in the manufacturing industry of aluminum foil containers and the uncertainty in the costs of raw materials are likely to hinder profit margins. The growing number of domestic players in the market for aluminum foil containers and the capacity expansion of existing players lead to a reduction in pricing which eventually shrinks the net profit of manufacturers of aluminum foil containers.
Asia-Pacific, owing to strong aluminum demand in China, dominates the aluminum foil market. The Asia Pacific region's top consumer base and rising food industry expect significant growth over the projected period. Further development has been propelled by the dramatic rise in food distribution systems and industrialisation.
The coronavirus outbreak has created a major fright and concern pertaining to the contagious diseases. As a preventive preparation, more and more common individuals and commercial sectors are incorporating technologies that can potentially mitigate the spread of the virus outbreak or execute entirely. Many corporations are heavily investing in their R&D and looking into ways to find products that can prevent the harmful bacteria and viruses to affect the food & beverage in residential and commercial sectors. Many companies have already come up with product line-ups that are claimed to prevent the COVID-19.
However, due to the lockdown situation, the manufacturing industries are being drastically affected, which is expected to meet its peak during the Q3 of this fiscal year upon resuming the production facility and distribution chains.
Further key findings from the report suggest
Supportive government initiatives to promote manufacturing sector in the country are expected to augment the demand for aluminum foil in packaging and industrial applications, thereby creating growth opportunities for market players.
On account of the COVID-19 pandemic, aluminum foils used for pharmaceutical packaging expected to meet a substantial demand from the consumers, many more pharmaceutical companies would start investing in the R&D to invent newer technological breakthroughs.
The industry expects to be driven by an increasing awareness of plastic contamination and its harmful environmental consequences from plastic wastes. Increased disposable income and increased knowledge of health are also some of the listed factors which are expected to drive market growth. The rising need for recycling of aluminum waste taking fewer energy and improving the industrial economic viability anticipates pressing demand for aluminum foils, especially in developing regions. The ever-growing concern for health expects to make a significant contribution to the growth of this market.
The proliferation and expanded presence of online grocery aggregators through e-commerce would raise the market for aluminum foil packaging goods
In recent years, all of the major market players have invested heavily in R&D initiatives, leading to the invention of several innovative products. Major players aim to enhance their product portfolio by strategic mergers and acquisitions of small and medium-scale companies. In the coming years, therefore, an intense rivalry among players is expected.
In May 2020, An American start-up firm is setting up aluminum billets in the Midwest Industrial Park, named Element 13 LLC. After being operational, the company will be able to melt scrap to make billets, and essentially aluminium logs of various sizes.
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Reports and Data segmented the global aluminum foil industry report based on application, thickness, end-users, and by region for this study:
Application Outlook (Revenue, USD Billion; 2017-2027)
Thickness Outlook (Revenue, USD Billion; 2017-2027)
End-Users Outlook (Revenue, USD Billion; 2017-2027)
Food and Beverages
Regional Outlook (Revenue, USD Billion; 2017-2027)
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Aluminum Foil Market Segmentation & Impact Analysis
4.1. Aluminum Foil Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Development of production in pharmaceutical packaging
22.214.171.124. Rising demand for food delivery
126.96.36.199. Increasing adoption of e-commerce
188.8.131.52. A rise in awareness of the environment
4.2.3. Market restraints analysis
184.108.40.206. Instability of raw material prices
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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