What is the global market size of Aluminum Foil Market?

Global Aluminum Foil Market size was valued at USD 25.79 Billion in 2022 and is poised to grow from USD 27.21 Billion in 2023 to USD 41.76 Billion by 2031, at a CAGR of 5.5% during the forecast period (2024-2031).

Who are the key vendors in the Global Aluminum Foil Market?

The industry is highly competitive & diversified in nature with the presence of multiple companies worldwide. Paper, glass, & plastic are just a few of the alternate packaging materials that businesses must contend with. To remain competitive in the market, they must therefore engage with customers constantly. Companies are investing in enlarging their manufacturing facilities in response to rising product demand. 'Amcor Limited', 'Hindalco Industries Ltd.', 'Reynolds Consumer Products LLC', 'Novelis Inc.', 'Hulamin Ltd.', 'Ess Dee Aluminium Ltd.', 'Alcoa Corporation', 'Eurofoil', 'China Hongqiao Group Limited', 'Gränges AB', 'Norsk Hydro ASA', 'Constellium SE', 'Ball Corporation', 'UACJ Corporation', 'Lotte Aluminium Co., Ltd.', 'Novelis (Aditya Birla Group)', 'Fujian Longking Co., Ltd.', 'Symetal S.A.', 'JW Aluminum', 'Handi-Foil Corporation'

Aluminum Foil Market Size, Share, Growth Analysis, By Thickness, By Type, By Packaging, By Application, By Region - Industry Forecast 2025-2032

Report ID: SQMIG15I2007 | Region: Global | Published Date: December, 2024
Pages: 184 | Tables: 64 | Figures: 75

Aluminum Foil Market Regional Insights

Asia Pacific accounted for more than 53.0% of global revenue in 2022. Over the forecast period, it is anticipated that rising packaging demand will fuel product demand. For instance, the board of SRF Ltd in India authorized INR 425 crore (roughly USD 5.60 billion) in January 2022 to build an aluminum foil production facility in Jaitapur, Indore. The plant will supply the food & beverage industries with packaging for both home and foreign markets.

Europe is expected to show substantial growth during the forecast period. The government's initiatives to promote food exports and its decarbonization objectives have been significant market drivers for foils. The removal of trade restrictions on steel and aluminum by the U.S. government in 2021 is expected to have a significant positive impact on the export of aluminum foil throughout the projected period.

Aluminum Foil Market Report Snapshots

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Global Aluminum Foil Market size was valued at USD 26.4 billion in 2022 and is poised to grow from USD 27.7 billion in 2023 to USD 40.6 billion by 2031, growing at a CAGR of 4.9% during the forecast period (2024-2031).

The industry is highly competitive & diversified in nature with the presence of multiple companies worldwide. Paper, glass, & plastic are just a few of the alternate packaging materials that businesses must contend with. To remain competitive in the market, they must therefore engage with customers constantly. Companies are investing in enlarging their manufacturing facilities in response to rising product demand. 'Novelis Inc. (USA) ', 'Rusal (Russia) ', 'Hydro Aluminium (Norway) ', 'Ball Corporation (USA) ', 'ArcelorMittal (Luxembourg) ', 'Jindal Aluminium Limited (India) ', 'Amcor Limited (Australia) ', 'UACJ Corporation (Japan) ', 'Southwest Aluminum (China) ', 'Kaiser Aluminum (USA) ', 'Ess Dee Aluminium Ltd. (India) ', 'Alcoa Corporation (USA) ', 'Mingtai Aluminum Industrial Co. (China) ', 'Zhejiang Materials Industry Group Co. (China) ', 'Aluminum Corporation of China Limited (Chinalco) (China) ', 'Sapa Group (Norway) ', 'Votorantim Metais (Brazil) ', 'Constellium (Netherlands) ', 'Shandong Nanshan Aluminium (China) ', 'Zhengzhou Haomei Industrial Co. (China)'

Aluminum foil is widely used in packaging applications due to its excellent barrier properties, resistance to moisture, light, and gasses. The growing demand for packaged food and beverages, pharmaceuticals, and personal care products is driving the demand for aluminum foil.

Growing Demand in the Packaging Industry: Aluminum foil is extensively used in the packaging industry for various products such as food, beverages, cosmetics, and pharmaceuticals. The increasing demand for convenient and sustainable packaging solutions has propelled the growth of the aluminum foil market.

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Aluminum Foil Market Size, Share, Growth Analysis, By Thickness, By Type, By Packaging, By Application, By Region - Industry Forecast 2025-2032

Aluminum Foil Market Regional Insights

Aluminum Foil Market Report Snapshots

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What is the global market size of Aluminum Foil Market?

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