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Aluminum foil is a thin film made up of an aluminum alloy containing 92% to 99% aluminum. Usually, the thickness of the foil is between 6 µm to 0.2 mm. The foil is formed in many specifications for about hundreds of applications, including thermal insulation, fin stock, capacitors and packaging products. The popularity of aluminum foil is due to several advantages, easy availability of raw material, long durability, and non-toxic nature. In addition, aluminum foil resists chemical attack and provides excellent electrical and magnetic shielding. Aluminum foil is manufactured using aluminum obtained from the Bayer refining process, which is smelted and then rolled into thin films of foil. For many applications, this foil is used in combination with other materials. It is often coated with materials such as resins and polymers for decorative, protective and thermal sealing purposes. The wide range of applications of aluminum along with its shielding properties is the key reason behind the popularity of aluminum foil in the global market.
With emphasis growing on keeping products safe, especially food products, the demand for packaging products has grown quite considerably in the recent past. It is predicted that with the advent of flexible packaging products made from aluminum foil, the demand for aluminum foil is going to multiply during the forecast period, providing a strong push to the market.
Key Market Driver -
Strong growth of packaging industry to be the key reason behind the growth of the market
Key Market Restraint -
Difficulty in disposal of aluminum negatively affecting the adoption of aluminum foil
However, aluminum, being a metal is not very easy to dispose of, and thus, the products manufactured from aluminum, including aluminum foil have to undergo either reuse or recycle, rather than being disposed of. This factor limits the adoption of aluminum foil in various industries where sticky materials are formed.
Based on application, the aluminum foil market is segmented into packaging, insulation, technical, and others. Packaging segment is further divided into food & beverages, pharmaceuticals, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The global aluminum foil market is fairly fragmented, with many regional players operating in it. Some of the key players in the aluminum foil market include Zhangjiagang Fineness Aluminum Foil Co. Ltd., Zhengzhou Keyuan Non-ferrous Metal Materials Co. Ltd., VWR International LLC, All-foils, Inc., Aleris Corporation, Reynolds Group Holdings Limited, Carcano Antonio S.p.A., Hindalco Industries Ltd., Amcor plc, Plus Pack AS, Laminazione Sottile S.p.A., Loften Foil Co., Aluflexpack AG, Constantia Flexibles, Icont, Aleuro Converting SP. Z.O.O., Grupo Cuatrogasa, Alufix, Cofresco, and Sphere
The aluminum foil market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific leads the market demand, with China accounting for the largest consumption of aluminum foil for the manufacture of aluminum packaging products. India and countries in Southeast Asia are also showing considerable demand growth for aluminum foil for the storage of food products. Europe shall stay in second place throughout the forecast period, owing to strong demand for keeping foodstuffs hot and for pharmaceutical packaging. The demand in North America is expected to be steady, with the emphasis on the usage of technical products made from aluminum foil. The market in Middle East & Africa will be governed by the flourishing food packaging industry in the region, while in Latin America, demand for aluminum foil for the manufacture of beverage bags is expected to create attractive opportunities for the stakeholders.
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