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Global aluminum foil market is expected to rise to an estimated value of USD 35.17 billion by 2026

Global aluminum foil market is expected to rise to an estimated value of USD 35.17 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing demand from various end-users for flexible packaging and usage of aluminum foil in development of various flexible packaging products.

Global Aluminum Foil Market By Product (Rolled Foil, Backed Foil, Others), Foil Thickness (0.007mm-0.09mm, 0.09mm-0.2mm, 0.2mm,0.4mm), Foil Type (Printed, Unprinted), End-Use (Packaging, Industrial), Application (Wrapper Foils, Container Foils, Foil Lids, Pouches, Blister Packs, Collapsible Tubes, Bottle Neck Protection, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026.

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Market Analysis: Global Aluminum Foil Market

Global aluminum foil market is expected to rise to an estimated value of USD 35.17 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing demand from various end-users for flexible packaging and usage of aluminum foil in development of various flexible packaging products.

Market Definition: Global Aluminum Foil Market

Aluminum foil also known as tin foil is defined as very thin sheets of processed aluminum steel having thickness of less than 0.4mm. These sheets are commonly used as insulation materials in various packaging products. With innovations, a variety of packaging manufacturers have started utilizing these sheets as the core ingredient to shape them into cups, containers, pouches, lids and trays among other shapes and sizes.

Market Drivers:

  • Shifting consumer preference giving rise to greater consumption for packed food products is expected to propel the growth of the market
  • Significant growth experienced by the pharmaceutical packaging market giving rise to enhanced demands for aluminum foil; is another factor uplifting the market growth
  • Greater preferences of consumers and industries for adoption flexible packaging solutions over rigid packaging; this factor is expected to fuel the growth of the market
  • Recyclable and eco-friendly nature of aluminium foil along with the growing inclination towards the convenience packaging solutions in food & beverages packaging also acts as a driving factor for this market

Market Restraints:

  • Concerns regarding the fluctuating prices of raw materials for the manufacturing of these products
  • Lack of proper recycling processes in a number of countries where people are not aware of ecological challenges might act as a restricting factor for this market growth

Segmentation: Global Aluminum Foil Market

By Product

  • Rolled Foil
  • Backed Foil
  • Others

By Foil Thickness

  • 0.007mm-0.09mm
  • 0.09mm-0.2mm
  • 0.2mm,0.4mm

By Foil Type

  • Printed
  • Unprinted

By End-Use

  • Packaging
    • Food & Beverages
      • Dairy
      • Bakery
      • Confectionary
      • Ready-To-Eat
      • Beverages
    • Tobacco
    • Pharmaceutical
    • Cosmetics
  • Industrial

By Application

  • Wrapper Foils
  • Container Foils
  • Foil Lids
  • Pouches
  • Blister Packs
  • Collapsible Tubes
  • Bottle Neck Protection
  • Others

Key Developments in the Market:

  • In August 2019, Coppice Alupack, a subsidiary of Eurofoil announced that they had bought Nicholl Food Packaging. The transaction was a sale out of administration which resulted in job securing of all of the employees working under the Nicholl Food Packaging. This transaction will result in attaining significant financial benefits as well as expansion of presence of their organization for U.K. region
  • In January 2019, Sparsh Industries announced their plans of expansion of their business operations in two phases amounting to an investment of about USD 60 million combined. The two phases involves expansion of CPP lines as well as expanding the aluminum foil production. The company is also looking to invest in acquiring specialized holographic machines to develop holographic films

Competitive Analysis:

Global aluminum foil market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of aluminum foil market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request Detailed TOC:https://www.databridgemarketresearch.com/toc?dbmr=global-aluminum-foil-market

Key Market Competitors:

Few of the major competitors currently working in the global aluminum foil market are Amcor plc; Zhejiang Junma Aluminum Industry Co., Ltd.; Aditya Birla Management Corporation Pvt. Ltd.; Huawei Aluminium Co., Ltd; Eurofoil; Carcano Antonio S.p.A.; Assan Alüminyum Sanayi ve Ticaret A.Ş.; Ess Dee Aluminium Ltd.; Xiashun Holdings Limited; RUSAL; Pactiv LLC; Hulamin; Alcoa Corporation; Wyda Packaging (Pty) LTD.; Alufoil Products Pvt. Ltd; Constellium; Norsk Hydro ASA; Reynolds Consumer Products; ALUFLEXPACK AG among others. DP Group; TOYO ALUMINIUM EKCO PRODUCTS CO.,LTD. among others.

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