Global aluminium foils packaging market to grow at 3.6% during 2016-2020

Consumption of aluminium foils is rising steadily all across the globe. According to Technavio's latest report, the global aluminium foil packaging market will grow at a CAGR of 3.69 per cent by volume during the period 2016-2020.

Aluminium foils are produced by continuous casting and cold rolling of aluminium sheets. They are prepared in thin metal leaves and can be used to wrap around any product for packaging. They act as a major barrier to external agents like bacteria, oxygen, moisture, and UV rays. Aluminium foils are used in the pharmaceutical and food and beverage sectors.

The global aluminium foil market which is primarily segmented into APAC, European, North American, and ROW (rest of the world) regions is dominated by a number of prominent vendors namely, Amcor, Alcoa, and Novelis. Other noted aluminium foil manufacturers and suppliers include ACM Carcano, Assan Aluminum, Alibrico Packaging, Companhia Brasileira de Aluminio, Jasch Foils, and Nicholl.

The report identifies increasing demand from packaged food industry as the key driver for the aluminium foils market growth. The underlying factors supporting the growth are changing lifestyle of the modern consumers who look for hygiene, convenience, aesthetics, and sustainability in their daily consumables.

Increasing lightweighting and downgauging remains the major trend in aluminium foils industry, observes Technavio in their report. No wonder, every aluminium foil manufacturers are trying in their own way to enhance their technology to live up to the global standards. They are banking on upgraded equipment and value-addition to differentiate their products for better positioning in the already crowded and most importantly, a highly evolving market.

Global aluminium foils industry just like other end user industries is faced by a host of challenges, both from the raw material supply side as well as from the demand side. The foil manufacturers have to deal with the fluctuating price of aluminium with an eye on the changing preferences of consumers, which means they have to constantly keep upgrading their technology and equipment. Then there are threats of new entrants to be dealt through innovation. Nevertheless, with the market for aluminium foils expanding they have little to worry about their own market shares, only that the competition will get tougher by the day.

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