DUBLIN--(BUSINESS WIRE )--The "Global Aluminum Foil Market Size, Trends & Growth Opportunity, by End-Use, by Application, by Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Aluminum Foil Market was valued at USD 24,090 million in 2020 which expected to reach USD 38,400 million by 2027 at a CAGR 6% from 2020-2027.
Aluminum foils have a number of benefits for the packaging and food industries, as well as for consumers, such as consumer friendliness and recyclability. Food products can be frozen or heated immediately in the foil container. Aluminum is also used in beverage, confectionery, personal care, health care, and other industrial applications. Over the next few years, the global aluminum foil packaging industry is predicted to rise rapidly.
Government regulations governing food safety and quality standards encourage producers to develop efficient packaging solutions that prevent food contamination, assisting the domestic aluminum foil industry's growth. To manufacture lightweight containers, aluminum foil is increasingly being used with flexible films. Pet food, tuna, coffee, and soup packaging alone make 13 billion packets around the world, making them viable alternatives to traditional plastic packaging.
Raw material prices are volatile due to raw materials account for the lion's share of the costs associated with producing metalized flexible packaging. The metalized flexible packaging's polymers are derived from petroleum. Given the unpredictable trend in crude oil and the high demand for polymers in a variety of applications, the pressure on input costs is likely to fluctuate. Fluctuating raw material prices can have an impact on manufacturing profitability, limiting the growth of metalized flexible packaging.
The COVID-19 pandemic is wreaking on the aluminum foil sector in several ways. To prevent future viral transmission, governments in hard-hit countries have implemented nationwide lockdowns and travel bans, erecting a number of hurdles throughout the aluminum foil supply chain. As a result, market participants are devising novel tactics to deal with this uncertain period. While demand for aluminum foils in the food and beverage industry will continue slowly, the pharmaceutical business will provide significant growth prospects.
Asia-Pacific dominated the Aluminum Foil market. Packaging demand in Asian countries is expected to rise over the forecast period due to rising population. Blister packs, strip packs, sachets and pouches, collapsible tubes, and bottles are all examples of pharmaceutical packaging that use aluminum foil.
Major Questions Addressed by the Report
4 Global Aluminum Foil Market Outlook
5 Global Aluminum Foil Market, By End-use
5.1 Y-o-Y Growth Comparison, By End-use
5.2 Global Aluminum Foil Market Share Analysis, By End-use
5.3 Global Aluminum Foil Market Size and Forecast, By End-use
6 Global Aluminum Foil Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Aluminum Foil Market Share Analysis, By Application
6.3 Global Aluminum Foil Market Size and Forecast, By Application
7 Global Aluminum Foil Market, By Region
7.1 Global Aluminum Foil Market Share Analysis, By Region
7.2 Global Aluminum Foil Market Share Analysis, By Region
7.3 Global Aluminum Foil Market Size and Forecast, By Region
8 North America Aluminum Foil Market Analysis and Forecast (2021-2027)
9 Europe Aluminum Foil Market Analysis and Forecast (2021-2027)
10 Asia Pacific Aluminum Foil Market Analysis and Forecast (2021-2027)
11 Latin America Aluminum Foil Market Analysis and Forecast (2021-2027)
12 Middle East Aluminum Foil Market Analysis and Forecast (2021-2027)
13.2 Market share Analysis of Top Vendors
14.1.4 Business Segment & Geographic Overview
14.9 Xiamen Xiashun Aluminium Foil Co. Ltd.
14.10 Southern Aluminium Industry Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ym57r6
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900