Published Date : Jul 22, 2016
Aluminum foil is a misnomer tin foil and is prepared using aluminum in very thin metal leaves. An aluminum foil bears a thickness around 0.2 mm and is widely used across the globe. Aluminum foil offers several advantages, owing to which the global market for aluminum foil is projected to witness remarkable growth in the next few years.
Aluminum foils provide several benefits to the food and packaging industries and the consumers, as the products stored in the foil can be frozen or heated whenever required. Some of the key applications of aluminum foil are confectionary, beverage, health care, personal care, and other industrial uses. Thus, the global market for aluminum foil is anticipated to grow rapidly in the next few years.
Some of the major applications of aluminum foil are mentioned as below:
The rising demand for aluminum foil from food and beverages industry has attracted new players to enter the market in order to create a niche for themselves in the next few years. The existing players are adopting the merger and acquisition strategies in order to expand their product portfolio and strengthen their position in the overall market.
Some of the leading players engaged in the global aluminum foil market are Bachmann Aluminium GmbH, TetraPak, Amcor, Ardagh Group, Alufoil Products Pvt. Ltd., Alupac, Plus Pack, DeLaval, ACM Carcano, Southern Aluminium Industry Co. Ltd., Aditya Birla Group, Dalia Packaging, Aluflexpack, Velcro Group, Rajasthan Foils Pvt. Ltd, Danpak International B.V, Flexifoil Packaging, Comital Group, Hindalco Industries Limited, Ekco, Eurofoil, and Alcoa.
The growing demand for aluminum foil in snacks and chocolate industry across the globe is one of the prominent factors projected to fuel the growth of the global market in the near future. In addition, the pharmaceutical industry is also expected to create potential opportunities for the key players in the coming years. Furthermore, the rise in the productivity of the manufacturing units, technological developments, enhancement in the exportability of foils, and reduction in plants losses to lower the cost are some of the other factors that are estimated to fuel the growth of the global aluminum foil market in the near future.