Aluminum Foil Market Share

Global Aluminum Foil Market Overview

Aluminum Foil Market Size was valued at USD 24.9 Billion in 2022. The Aluminum Foil industry is projected to grow from USD 27.4 Billion in 2023 to USD 59.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.10% during the forecast period (2023 - 2032). EV demand is rising, the worldwide packaging market is expanding, and air conditioning systems are becoming increasingly necessary, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Aluminum Foil Market Trends

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  Growth of the global packaging industry is driving the market growth

  
  

Given that the product is extensively utilised for the packaging of several products, including food, drinks, cosmetics, and pharmaceuticals, market growth is predicted to be boosted by the expansion of the worldwide packaging sector. Additionally, it is anticipated that the need for electric vehicles (EVs) and the rising need for air conditioning systems would contribute to aluminium foils' continued rise. The manufacturing of the product has increased due to soaring demand from the pharmaceutical business. For instance, Polfarmex invested in a new blister pack packaging plant in November 2021, boosting its manufacturing capacity by 60%.

To protect its domestic manufacturing sector, the U.S. slapped anti-dumping duties on nations like Oman and China for aluminium products like foils. Novelis Inc. intends to invest USD 7 million in July 2021 to reopen its aluminium foil production facility in Terre Haute, Indiana, USA. In 2014, Novelis Inc. halted producing as a result of unfavourable market conditions. Electric vehicles (EVs) must have batteries, and lithium-ion batteries have electrolytic capacitors made of aluminium foil. In the upcoming years, it is projected that EV market expansion would further boost product demand. For instance, Toyota Motor said in October 2021 that they intend to construct a USD 1.3 billion battery plant for electric and hybrid vehicles in North Carolina, United States.

Due to their lightweight, corrosion resistance, and insulating qualities, aluminium foils are in high demand in the building and construction industry. The use of the product in the nation is anticipated to increase due to rising investments in the building sector. For instance, the United States spent USD 1,589.0 billion on building in 2021, an increase of 8.2% above USD 1,469.2 billion in 2020. Growing consumer interest in recyclable and organic goods is boosting aluminium production. Due to the use of aluminium cans for beverage packaging, the industry is experiencing an increase in demand. It is also projected that the increasing popularity of aluminium trays and packed boxes made from aluminium containers in the food and beverage industry will fuel the expansion of the aluminium foil market.

Government regulations governing food safety and quality standards are helping the domestic aluminium foil industry grow by encouraging businesses to provide effective packaging solutions that prevent food contamination, which will further boost market growth. Aluminium foil is frequently combined with flexible films to create lightweight containers. The packaging for pet food, tuna, coffee, and soup alone produces 13 billion packets globally, making them viable substitutes for conventional plastic packaging and fostering the market's expansion. Thus, driving the Aluminum Foil market revenue.

Aluminum Foil Market Segment Insights

Aluminum Foil Product Insights

The Aluminum Foil Market segmentation, based on Product, includes wrapper foils, containers foils, foil lids, pouches, blister packs, and others. In 2022, the wrapper foils category held the greatest market share. Companies that produce food and beverages from all over the world have announced intentions for expansion to meet the rising demand for packaged foods. For instance, Nestle USA stated in June 2021 that it would be investing $100 million in an expansion of its frozen food facility in South Carolina, United States. During the projection period, it is anticipated that these expenditures will increase packaging demand and ultimately aid market expansion.

Aluminum Foil End Use Insights

The Aluminum Foil Market segmentation, based on End Use, includes packaging and industrial. The packaging segment accounted for largest market share in 2022. The demand for packaged food has been rising due to global urbanisation, and this trend is anticipated to continue during the projection period.

Figure 1: Aluminum Foil Market, by End Use, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Aluminum Foil Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Aluminum Foil market dominated this market in 2022 (45.80%). Over the forecast period, it is anticipated that rising packaging requirements will fuel product demand. For instance, the board of SRF Limited in India approved INR 425 crore (about USD 5.60 billion) in January 2022 to build an aluminium foil manufacturing factory in Jaitapur, Indore. The facility will meet the packaging needs of the domestic and international food and beverage industries. Moreover, China’s Aluminum Foil market held the largest market share, and the Indian Aluminum Foil market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: ALUMINUM FOIL MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America Aluminum Foil Market is expected to register fastest growth from 2023 to 2032. Increasing focus on EV battery production is expected to benefit market growth. For instance, the Canadian government stated in March 2021 that it will invest USD 100 million in the battery production facility of Lion Electric in St-Jerome, Quebec, Canada. The FMCG, automobile, and food and beverage industries all make substantial use of the product. The nation is attempting to increase production for a variety of end-use industries, which is predicted to drive the need for aluminium foils over the specified projection period. Further, the U.S. Aluminum Foil market held the largest market share, and the Canada Aluminum Foil market was the fastest growing market in the North America region.

Europe Aluminum Foil market accounts for the significant market share. The government's efforts to encourage food exports and its decarbonization goals have been major drivers of the foils market. The elimination of trade tariffs on steel and aluminium by the U.S. government in October 2021 is expected to have a significant positive impact on the export of aluminium foil over the forecast period. Further, the German Aluminum Foil market held the largest market share, and the U.K Aluminum Foil market was the fastest growing market in the European region

Aluminum Foil Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Aluminum Foil market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Aluminum Foil industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Aluminum Foil industry to benefit clients and increase the market sector. In recent years, the Aluminum Foil industry has offered some of the most significant advantages to medicine. Major players in the Aluminum Foil market, including ACM Carcano, Amcor, Assan Aluminyum, Ess Dee Aluminium, Eurofoil, Hindalco Industries Ltd, Huawei Aluminium, Laminazione Sottile, and Shanghai Metal Corporation, are attempting to increase market demand by investing in research and development operations.

Packaging solutions are provided by Amcor Plc (Amcor). Pet bottles, plastic bottles and jars, capsules and closures, speciality folding cartons, free films, bags and pouches, wrappers, rigid containers, laminates and flow packs are just a few of the plastic, fibre, metal and glass packaging solutions it offers. Products from the company are used in a variety of technical applications as well as the beverage, food, pharmaceutical, medical device, homecare, personal care, and animal care industries. Additionally, it services the markets for healthcare, pharmaceuticals, personal care, and home goods. The corporation has operations throughout Oceania, North America, Western Europe, and the Asia-Pacific region. The U.K. city of Bristol serves as the headquarters of Amcor. Amcor announced the purchase of a flexible packaging facility in the Czech Republic in August 2022. The facility's strategic location immediately improves Amcor's capacity to meet demand and customer growth across its network of flexible packaging (laminates, pouches, and bags) for food packaging in Europe.

A subsidiary of Hindalco Industries Ltd., Novelis Inc. (Novelis) is a leading producer of rolled aluminium goods worldwide. The business specialises in recycling aluminium from both post-industrial and post-consumer sources. In five end-use markets, including packaging, transportation, architecture, industry, consumer durables, and others, it primarily produces rolled aluminium products. The corporation runs 33 operational facilities spread across nine different nations. The business reported shipment volumes of 4,080 kilotonnes (kt) in FY2022. Novelis divides its product lines into four groups: Specialty, Can, Automotive, and Aerospace. The business reported capital expenditures of USD 446 million for FY2022. As cosmetics are certified to contain 100% recycled aluminium and provide packaging customers in the beauty, skincare, and wellness space with an infinitely recyclable solution compared to plastic alternatives, Novelis announced in July 2022 that it is expanding its evercylce portfolio to the cosmetic packaging market.

Key Companies in the Aluminum Foil market include

• ACM Carcano


• Amcor


• Assan Aluminyum


• Ess Dee Aluminium


• Eurofoil


• Hindalco Industries Ltd


• Huawei Aluminium


• Laminazione Sottile


• Shanghai Metal Corporation

Aluminum Foil Industry Developments

April 2022: At its factory in Plettenberg-Ohle, Germany, Novelis said that it is spending more than USD 30 million to create a new continuous annealing line. This would increase the plant's capacity for aluminium in the production of coffee capsules. The change symbolises the company's failure to implement its growing portfolio of sustainable packaging alternatives.

Aluminum Foil Market Segmentation

Aluminum Foil Product Outlook

• Wrapper Foils


• Containers Foils


• Foil Lids


• Pouches


• Blister Packs


• Others

Aluminum Foil End Use Outlook

• Packaging


• Industrial

Aluminum Foil Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America