Aluminum Foil Market To Exceed USD 33.1 Billion By 2025 : Grand View Research Inc.

San Francisco, 8 November 2019: The Report Aluminum Foil Market Size, Share & Trends Analysis Report By End-Use (Packaging, Industrial), By Application (Wrapper, Container, Blister Packs, Pouches), By Region, And Segment Forecasts, 2019 – 2025

The global aluminum foil market size is anticipated to reach USD 33.1 billion by 2025, accelerating at a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The superior barrier properties of the product coupled with rising demand for flexible packaging is expected to drive the market.

Aluminum foil is used in various packaging and industrial applications. Packaging involves protecting food & beverage products, medicines, cosmetics, and tobacco from chemical, climatic, and physical parameters. Industrial applications of the product involve transportation, building & construction, and electrical & electronics along with it being used to manufacture heat exchanger tube fins for air conditioners, thermal insulation wrappers for pipes & ducts, and coil & capacitors.

Packaging industry is projected to generate a considerable product demand over the forecast period. Aluminum foil is an excellent material for preserving food products stored on shelves or in freezer/cooler. Containers made of this material are popular for use in food packaging. Moreover, aluminum foil containers are highly suitable for use in all types of ovens including conventional, convection, microwave, and boiler ovens.

Aluminum foil is a consumer-friendly product and is recyclable. Apart from containers, the product has a wide application scope in the form of wrappers, lids, pouches, blister packs, and collapsible tubes in a diverse range of industries such as personal care & cosmetics, pharmaceutical, and food & beverage. Moreover, the product is lightweight and is, therefore, economical and easily transportable. Its ability to act as an absolute barrier and its impermeability makes it a versatile material for packaging manufacturers.

China dominated the global aluminum foil market in 2018, which can be attributed to the country’s ability to manufacture the product at a considerably lower cost than other countries. The abundance of bauxite ores in China allows manufacturers to procure raw materials such as alumina at a low cost and thus, produce downstream products such as aluminum foil at a relatively cheaper price compared to other countries.

Other developing regions, such as India, are expected to grow at significant rates owing to the thriving economy and rapidly expanding packaging sector. Developing nations along with their burgeoning population, create a vast potential for the players in the industry. The U.S. is the major consumer of the product in the North American market. The establishment of antidumping & countervailing duty on import of aluminum foil from China in the U.S. is likely to open new growth avenues for domestic manufacturers.

Access Research Report of Aluminum Foil Market @ https://www.grandviewresearch.com/industry-analysis/aluminum-foil-market

Further key findings from the report suggest:

• Packaging segment dominated the global market in 2018 and accounted for 69.3% of the market share in terms of volume owing to the consistent product demand from food and pharmaceutical packaging sectors
• In packaging industry, food & beverage application accounted for the largest revenue share of 68.0% in terms of revenue in 2018
• Pharmaceutical packaging segment is expected to progress at the fastest CAGR of 7.2% from 2019 to 2025, in terms of revenue, owing to rapid expansion of the global pharmaceutical sector
• Asia Pacific was the largest regional market for aluminum foil, which accounted for 54.6% of the overall volume share in 2018, on account of a wide population base and the presence of a vast food packaging industry in the region.

Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials

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

End-Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

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

Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Wrapper foils
• Container foils
• Foil lids
• Pouches
• Blister Packs
• Collapsible tubes
• Others

Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• North America
• Europe
• Asia Pacific
• South & Central America
• Middle East and Africa

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

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.

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