Global Aluminum Foil Market

Aluminum Foil Market Size, Share, Growth Analysis, By Product(Wrapper Foils, Containers Foils, Foil Lids, Pouches), By End-use(Packaging and Industrial), By Region - Industry Forecast 2024-2031

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

Aluminum Foil Market News

  • In May 2024, Aluminum Foil for Lithium Battery Market Predicts Steady Growth at a CAGR of 22.0% till 2030. 

  • In May 2024, Shyam Metalics & Energy launches SEL Tiger Foil. 

  • In April 2024, an article was published in GlobalNewsWire that stated Aluminum Foil Market to Reach US$ 44,787.7 Million by 2034 Amid Growing Popularity of Single-Serve Packaging and Rising Demand for On-the-Go Meals. 

  • In March 2023 LSKB Aluminium Foils Pvt Ltd. launched India's 1st Golden Embossed HOMEFOIL at the 37th AAHAR - The International Food & Hospitality Fair.  
  • In November 2022 Fi-Foil Company, a portfolio company of Validor Capital, and a manufacturer of reflective insulation and radiant barriers, acquired Kennedy Insulation Group, to significantly expand its reflective insulation product line. 
  • In August 2022, Amcor announced the purchase of a flexible packaging facility in the Czech Republic, whose strategic location instantly improves Amcor's capacity to meet demand and client growth throughout its network of flexible packing (laminates, pouches, and bags) for food packaging in Europe. 
  • In July 2022, Novelis, a provider of environmentally friendly aluminum solutions, introduced that it is extending its evercycle portfolios to the cosmetic packaging market. Because cosmetics have been verified to contain 100% recycled aluminum, they provide packaging clients in the beauty, skincare, as well as wellness sectors with a solution that is infinitely more recyclable than alternatives made of plastic. 
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Aluminum Foil Market size was valued at USD 27.21 Billion in 2022 and is poised to grow from USD 31.02 Billion in 2023 to USD 41.76 Billion by 2031, at a CAGR of 5.5% 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. '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 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.

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.

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Global Aluminum Foil Market

Report ID: SQMIG15I2007

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