Rising concerns regarding the use of plastic packaging products
Industries such as food and beverages, pharmaceuticals, packaging, and e-commerce extensively use plastic primarily for packaging. However, packaging solutions are mostly one-time use products and end up in landfills, which has been significantly contributing to environmental pollution.
As a result, governments and industries are taking measures to use alternative packaging solutions such as aluminum foil. Therefore, the vendors of the market have been recording increased sales, which will lead to the expansion of the aluminum foil market at a CAGR of almost 6% during the forecast period.
Growing consumption of secondary aluminum
The aluminum industry itself is focusing on reducing its carbon footprint by recycling aluminum scrap to produce secondary aluminum. It is not only an environmentally friendly process but also requires less energy and incurs reduced manufacturing cost.
Moreover, the rising demand for sustainable products from industries is increasing sales of secondary aluminum that is significantly used to make packaging solutions. Therefore, this trend will have a positive impact on the overall market growth.
The report has observed market growth factors such as the increase in global consumption of processed and packaged food products, growth in pharmaceutical and medical devices industry, and rising concerns regarding the use of plastic packaging products.
However, fluctuations in aluminum prices, easy availability of substitutes, and the presence of stringent regulations may hamper the growth of the aluminum foil industry over the forecast period.
The aluminum foil market analysis considers sales to food and beverage packaging, consumer packaging, pharmaceutical packaging, and other segments. The analysis also considers the sales of aluminum foil in APAC, Europe, MEA, North America, and South America.
In 2018, the food and beverage packaging segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the material's ability to increase the shelf-life of food and beverages, its resistance to high temperature, and the growing food and beverages industry will significantly help the market segment in maintaining its leading position.
With the presence of several major players, the global aluminum foil market is moderately fragmented. The robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading aluminum foil manufacturers, which include:
- Hindalco Industries
- Norsk Hydro
- Reynolds Group Holdings
- United Company Rusal
Also, the aluminum foil market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Comparison by application
- Food and beverage packaging - Market size and forecast 2018-2023
- Consumer packaging - Market size and forecast 2018-2023
- Pharmaceutical packaging - Market size and forecast 2018-2023
- Others - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- APAC - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
- Rising popularity of lightweight packaging
- Growing consumption of secondary aluminum
- Increasing adoption of sustainable packaging
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Constellium SE
- Hindalco Industries Ltd.
- Norsk Hydro ASA
- Reynolds Group Holdings Ltd.
- United Company Rusal PLC
For more information about this report visit https://www.researchandmarkets.com/r/cfw4p9