The analysts forecast global aluminum foil market to grow at a CAGR of 5.22% during the period 2017-2021. The latest trend gaining momentum in the market is Increasing product innovations.
Major vendors are competing with new product innovations to meet the global demand for aluminum foils.
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Norsk Hydro has introduced HyLectra, which is aimed at environment-friendly battery production combined with ideal efficiency. It is predominantly used in battery production as cathode current collectors.
Aluminum foils offer high surface area resulting in amenability of the battery. Therefore, innovation in technology and products by aluminum foil vendors is expected to affect the global aluminum foil market positively.
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Major key players in the global aluminum foil market: Alcoa, Ess Dee Aluminum, Gulf Aluminium Rolling Mill, Hindalco Novelis, Norsk Hydro, RUSAL, Assan Alüminyum Sanayi ve Ticaret, Laminazione Sottile, Iberfoil, Symetal, and CHINALCO HENAN LUOYANG ALUMINUM FOIL.
According to the aluminum foil market report, one of the major drivers for this market is Disadvantages of plastic packaging. Developments in technology and innovative product designs are promoting the need for new packaging materials for pharmaceutical products.
There has been a shift from using glass containers and vials to plastic bottles and containers made from low-density polyethylene and high-density polyethylene. Though these packaging materials are convenient to use, with fewer breakage chances, and cheaper, they are not impervious to leaching of chemicals from lacquers, paper, or film face stocks, adhesives, topcoats, label inks, or even the container itself, which could contaminate the medicine inside.
In addition to this, safe and cost-effective disposal of plastics used for packaging is another sustainability concern faced by the global pharmaceuticals packaging industry. On the other hand, aluminum packaging is safer to use and easily recyclable.
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Further, the aluminum foil market report states that one of the major factors hindering the growth of this market is Increasing closures of aluminum smelting units. Aluminum smelting and casting manufacturers mainly depend on energy resources such as natural gas and electricity.
Due to the energy-intensive processing, electricity expenses account for approximately 60% of the total cost of aluminum casting production. Due to power shortages and soaring power prices, the manufacturing units are shutting down.
For instance, in February 2017, Rio Tinto Boyne Island aluminum smelter has announced cutting the production in the manufacturing unit, as the price of electricity hiked to $12,642 per megawatt per hour. Therefore, downstream products, such as foils, sheet, coils, and plates, are expected to have a lower volume.
This is expected to affect the global aluminum foil market negatively.
Complete report on Aluminum Foil market spread across 72 pages, analyzing 11 major companies and providing 28 data exhibits now available at www.reportsnreports.com/reports/12…t-2017-2021.html.
Few Points from List of Exhibits:
Exhibit 1: Aluminum Industry Value Chain
Exhibit 2: Processing of Aluminum:
Exhibit 3: Global Aluminum Foil Market By Type 2016
Exhibit 4: Global Aluminum Foil Market 2016-2021
Exhibit 5: Global Aluminum Foil Market 2016-2021 (Million Metric Tons)
Exhibit 6: Five Forces Analysis
Exhibit 7: End-User Market Size & Forecast (%)
Exhibit 8: Comparison By End-User
Exhibit 9: Global Aluminum Foil Market For Consumer Packaging 2016-2021 (Million Metric Tons)
Exhibit 10: Global Aluminum Foil Market For Consumer Packaging 2017-2021 Year-Over-Year Growth (%)
Exhibit 11: Global Aluminum Foil Market For Pharmaceutical Packaging 2016-2021 (Million Metric Tons)
Exhibit 12: Global Aluminum Foil Market For Pharmaceutical Packaging 2017-2021 Year-Over-Year Growth (%)
Exhibit 13: Global Aluminum Foil Market For Industrial Market 2016-2021 (Million Metric Tons)
Exhibit 14: Global Aluminum Foil Market For Industrial Market 2017-2021 Year-Over-Year Growth
Exhibit 15: Market Opportunity By End-User
Exhibit 16: Global Aluminum Foil Market By Geography Market Size & Forecast (%)
Exhibit 17: Regional Comparison
Exhibit 18: The Aluminum Foil Market in APAC 2016-2021 Market Size & Forecast (Million Metric Tons)
Exhibit 19: The Aluminum Foil Market in APAC 2017-2021 Year-Over-Year Growth (%)
Exhibit 20: The Aluminum Foil Market in EMEA 2016-2021 Market Size & Forecast (Million Metric Tons)