Aluminum Foil Market: North America Is Anticipated To Register A CAGR Of 5.4%

 Aluminum Foil Industry Overview

The global aluminum foil market size was valued at USD 24.54 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030. Growth in the global packaging industry is anticipated to augment market growth as the product is widely used for the packaging of several products such as food, beverages, cosmetics, and pharmaceuticals. The increasing demand for Electric Vehicles (EVs) and the growing requirement for air conditioning systems are expected to further augur growth in the demand. Surging demand from the pharmaceutical industry has augmented aluminum foil manufacturing. For instance, in November 2021 Polfarmex invested in a new packaging line of the blister packs, which will increase its production capacity by 60%.

The U.S. was the largest market in North America in 2021 and this trend is anticipated to continue over the forecast period. The product is extensively used in the food & beverage, automotive, and FMCG industries. The country is trying the boost the manufacturing of the various end-use industries, which is anticipated to propel the demand for aluminum foils in the said forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Aluminum Foil market

 

The U.S. imposed anti-dumping duty for aluminum products like foils, on countries such as Oman and China, to safeguard the domestic manufacturing industry. In July 2021, Novelis Inc. planned to invest USD 7 million to restart its aluminum foil manufacturing unit in Terre Haute, Indiana, U.S. Novelis Inc. had stopped its production in 2014 owing to unfavorable market dynamics.

Batteries constitute an integral part of EVs, and aluminum foil is used in lithium-ion batteries for electrolytic capacitors. Growth in the EV market is anticipated to further augment product demand in the coming years. For instance, in October 2021, Toyota Motor announced that they plan to build a USD 1.3 billion battery plant for EVs and hybrid vehicles in North Carolina, U.S.

The demand for aluminum foils in the building and construction segment is high owing to their lightweight, corrosion resistance, and insulating properties. Rising investments in the construction industry are expected to propel the use of aluminum foil in the country. For instance, in 2021 the construction spending in the U.S. was USD 1,589.0 billion which was 8.2% more than USD 1,469.2 billion in 2020.


Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

  • Base Metal Mining Market - The global base metal mining market was valued at USD 551.03 billion in 2022 and is expected to expand at a compounded annual growth rate (CAGR) of 3.8% from 2023 to 2030. Rising demand for base metals from the electrical & electronics and automotive industries is projected to drive the market growth.

 

  • Building Thermal Insulation Market - The global building thermal insulation market size was estimated at USD 31.40 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. Increasing residential and commercial application of the product to reduce the overall energy costs, coupled with rising awareness about energy conservation are key factors expected to drive the growth.

 

Aluminum Foil Market Segmentation

Grand View Research has segmented the global aluminum foil market based on product, end-use, and region:

Aluminum Foil Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • Wrapper Foils
  • Container Foils
  • Foil lids
  • Pouches
  • Blister pack
  • Others

Aluminum Foil End-use Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • Packaging
  • Food & Beverage
  • Pharmaceutical
  • Tobacco
  • Others
  • Industrial
  • HVAC
  • EV Battery
  • Others

Aluminum Foil Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

  • September 2021: Shyam Metalics announced an investment of INR 300 crore (~USD 3.97 billion) to set up an aluminum foil plant for the packaging industry.


Key Companies profiled:

Some prominent players in the global aluminum foil market include:

  • ACM Carcano
  • Amcor
  • Assan Aluminyum
  • Ess Dee Aluminium
  • Eurofoil
  • Hindalco Industries Limited
  • Huawei Aluminium
  • Laminazione Sottile
  • Shanghai Metal Corporation
  • UACJ Foil Corporation
  • Xiamen Xiashun Aluminium Foil Co., Ltd.
  • Zhejiang Junma Aluminum Industry

 

Order a free sample PDF of the Aluminum Foil Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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