About Aluminum Foils
Aluminum foils are flat-rolled products (FRP) that are used for their flexibility, durability, and sustainability in applications such as consumer packaging, pharmaceutical packaging, and industrial (non-packaging) use. Aluminum foils are 100% recyclable and do not emit hazardous gasses during processing.
Technavio’s analysts forecast the global aluminum foils market to grow at a CAGR of 5.12% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global aluminum foils market for 2016-2020. To calculate the market size, the report discusses the major drivers influencing the market growth and the challenges faced by the vendors and the market as a whole. It also examines key emerging trends and their influence on current and future market scenarios. The report also discusses the regional segmentation for each geography.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aluminum Foils Market 2016-2020
Technavio recognizes the following companies as the key players in the global aluminum foils market: Alcoa, Ess Dee Aluminium, GARMCO, Hindalco Industries, Norsk Hydro, and RUSAL.
Other Prominent Vendors in the market are: Ess Dee Aluminium, Elval, JW Aluminum, Norandal, and Wanji Aluminium.
Commenting on the report, an analyst from Technavio’s team said: “Technological advancements and product innovations will be a key trend for market growth. Aluminum foil producers are adapting new technologies to reduce carbon emission during the production process. For instance, Norsk Hydro uses catalytic exhaust air treatment technology that is applicable for all foil annealing furnaces. This helped in reducing odor in process exhaust, carbon emission, and energy cost.”
According to the report, increase in demand from healthcare industry will be a key driver for market growth. The healthcare industry includes the pharmaceutical and medical devices sectors, which are growing at a fast pace in developed and developing countries. The fast growth in these sectors is increasing the scope for vendors of packaging materials to invest in products that offer better quality and reliability. Many companies are expanding their businesses in emerging countries with economies that have immense growth potential.
Further, the report states that competition from China will be a major challenge for the market. China is the largest producer of aluminum FRP. It is focusing on balancing the internal market by discouraging the export of primary aluminum by imposing higher duties and encouraging the export of semi-fabricated and value-added products by giving value-added tax rebates. As a result of this strategy, regions such as the European Union is facing stiff competition in semi-finished aluminum products.
Alcoa, Ess Dee Aluminium, GARMCO, Hindalco Industries, Norsk Hydro, RUSAL, Ess Dee Aluminium, Elval, JW Aluminum, Norandal, Wanji Aluminium.