Aluminum Foil Market Growth, Top Manufacturer Analysis and Forecast to 2030

Posted on 2023-01-03 by researchinsights in Chemicals // 0 Comments

San Francisco, California , USA, Jan 04, 2023 — /EPR Network/ —

Aluminum Foil Industry Overview

The global aluminum foil market size was valued at USD 24.54 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030.

Growth in the global packaging industry is anticipated to augment market growth as the product is widely used for the packaging of several products such as food, beverages, cosmetics, and pharmaceuticals. The increasing demand for Electric Vehicles (EVs) and the growing requirement for air conditioning systems are expected to further augur growth in the demand. Surging demand from the pharmaceutical industry has augmented aluminum foil manufacturing. For instance, in November 2021 Polfarmex invested in a new packaging line of the blister packs, which will increase its production capacity by 60%.

Gather more insights about the market drivers, restrains and growth of the Global Aluminum Foil Market

The U.S. was the largest market in North America in 2021 and this trend is anticipated to continue over the forecast period. The product is extensively used in the food & beverage, automotive, and FMCG industries. The country is trying the boost the manufacturing of the various end-use industries, which is anticipated to propel the demand for aluminum foils in the said forecast period.

The U.S. imposed anti-dumping duty for aluminum products like foils, on countries such as Oman and China, to safeguard the domestic manufacturing industry. In July 2021, Novelis Inc. planned to invest USD 7 million to restart its aluminum foil manufacturing unit in Terre Haute, Indiana, U.S. Novelis Inc. had stopped its production in 2014 owing to unfavorable market dynamics.

Batteries constitute an integral part of EVs, and aluminum foil is used in lithium-ion batteries for electrolytic capacitors. Growth in the EV market is anticipated to further augment product demand in the coming years. For instance, in October 2021, Toyota Motor announced that they plan to build a USD 1.3 billion battery plant for EVs and hybrid vehicles in North Carolina, U.S.

The demand for aluminum foils in the building and construction segment is high owing to their lightweight, corrosion resistance, and insulating properties. Rising investments in the construction industry are expected to propel the use of aluminum foil in the country. For instance, in 2021 the construction spending in the U.S. was USD 1,589.0 billion which was 8.2% more than USD 1,469.2 billion in 2020.

Browse through Grand View Research’s Advanced Interior Materials Industry Research Reports.

North America Rental Chillers Market – The North America rental chillers market size was estimated at USD 0.26 billion in 2021 and is anticipated to witness a compounded annual growth rate (CAGR) of 5.3% from 2022 to 2030.
North America Glass Fiber Reinforced Gypsum Market – The North America glass fiber reinforced gypsum market size was estimated at USD 0.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030.

Aluminum Foil Market Segmentation

Grand View Research has segmented the global aluminum foil market based on product, end-use, and region:

Aluminum Foil Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 – 2030)
- Wrapper Foils
- Container Foils
- Foil lids
- Pouches
- Blister pack
- Others
Aluminum Foil End-use Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 – 2030)
- Packaging
- Food & Beverage
- Pharmaceutical
- Tobacco
- Others
- Industrial
- HVAC
- EV Battery
- Others
Aluminum Foil Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Aluminum Foil market include

ACM Carcano
Amcor
Assan Aluminyum
Ess Dee Aluminium
Eurofoil
Hindalco Industries Limited
Huawei Aluminium
Laminazione Sottile
Shanghai Metal Corporation
UACJ Foil Corporation
Xiamen Xiashun Aluminium Foil Co., Ltd
Zhejiang Junma Aluminum Industry

Order a free sample PDF of the Aluminum Foil Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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