Future Market Insights
Converter aluminum foil market-Introduction:
Aluminum foil converters are used in flexible laminates which are layered with other supporting materials like paper or polymers. Converter aluminum foil resists flames, high humidity, UV rays, extreme temperature, and chemicals. Aluminum foil has significant properties like good thermal and electrical conductivity, good formability, non-absorptivity to water, grease, oil, and light, good adhesive capability to a variety of compounds and resistance to oxidation and chemical attacks. These unique physical characteristics of aluminium foil makes it essential component for flexible packaging industry. It is expected that the global converter aluminum foil market would gain significant market share in near future. Converter aluminum foil bring many advantages to food packaging market. These include its consumer friendliness, recyclability, and a comparison of converter aluminum foil containers with other packaging choices. The various applications of converter aluminum foil are food (which can be further segmented into confectionery and bakery), beverages, health care and others.
Converter aluminum foil market - Market Dynamics:
The Converter aluminum foil market is expected to experience a healthy growth due to the rising demand of temperature resistant material. Aluminum foil tape provides the shield from light reflection and thermal insulation. One of the significant factors contributing towards the growth of converter aluminum foil market is economic growth and increase of expenditure power among the people in developing countries. The change in food habits with the busy life style has led to increased demand for packaging. Growing demand for ready to eat confectioneries and pharmaceutical products is the major drivers for aluminum foils industry. Moreover, another factor towards the growth of converter aluminum foil market is because they are cost effective, have a strong tenacity and are also convenient to use. These trends can be expected to continue as the U.S. consumer continues to demand quality food, quickly available, at reasonable prices. The current growth rates of aluminum foil converter can be will be expected to follow the same trend. However, availability of alternative converters at low cost can act as restraining factors in the aluminum foil tape market.
Converter aluminum foil market - Market Segmentation:
The global Converter aluminum foil market is segmented based on application, product type, and region. On the basis of application, Converter aluminum foil market can be segmented into food & beverage, pharmaceutical, cosmetic and personal care and others. On the basis of product type, Converter aluminum foil market can be segmented into wraps, laminated tubes, pouches, foil, lid and others. The pharmaceutical packaging can be further sub segmented into strip packing, blister packing, and cold form packing
Converter aluminum foil market - Regional Outlook:
The Converter aluminum foil market can be segmented into North America, Latin America, Europe, Middle East, Africa and Asia pacific. North America has seen rise in Converter aluminum foil market due to increase in modernization and industrialization. Europe is a major market of global aluminum foil converter both in term of manufacturing and demand followed by North America. Further, Asia Pacific is expected to see large growth in the converter aluminum foil market due to increasing manufacturing activities as well as expanding its consumer base in China and India. Over the forecast period, Latin America is expected to witness moderate growth only.
Converter aluminum foil market - Major Players:
The Key player of Converter aluminum foil market are Alufoil Products Pvt. Ltd, Amco India Ltd, Nadco Tapes & Labels, Inc., Myra Foils, Raviraj Foils Limited, Aluminium Foil Converters Pvt. Ltd, Symetal Aluminium Foil Industry, S.A., All Foils, Inc., Bright Packaging Industry Berhad.
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