London, UK – Technavio’s market research analysts have envisaged the global aluminum foils market to grow steadily at a CAGR of more than 5 percent over the forecast period. Increasing demand from the healthcare industry is one of the key factors driving the growth of the aluminum foils market in the coming years. The healthcare industry comprises the pharmaceutical and medical devices sectors, both of which are growing rapidly around the world. This increases the scope for vendors of packaging materials to invest in products that offer better quality and reliability.
Moreover, several companies are expanding their businesses in emerging economies, which will impel the growth prospects for this market until the end of 2020. At present, the global aluminum foils market is dominated by the top six market vendors including Alcoa, Ess Dee Aluminium, GARMCO, Hindalco Industries, Norsk Hydro, and RUSAL. However, with an increase in the number of new players, the market shares for these top vendors are declining and are being shared by the new players.
In this industry research study, the analysts have estimated factors such as technological advancements in the production of aluminum foils to spur the growth prospects for this market in the next four years. Technavio lead analyst Chandrakumar Badala Jaganathan: “To stay competitive in the market, 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.” Moreover, due to the increasing cost of electricity, manufacturers are increasingly focusing on using alternative sources of energy; for instance, RUSAL has planned a project for construction of gas-powered electrical generator at Ural Foil to produce its own heat and power for the plant.
The top six aluminum foils market vendors are:
Alcoa was established in 1888 and is headquartered in New York, New York, US. The company engineers and manufactures innovative lightweight metals such as aluminum, titanium, and nickel. Its products are used in automobiles, aircraft, packaging, building and construction, commercial transportation, oil and gas, defense, consumer electronics, and industrial applications. By the second half of 2016, the company intends to separate operations into two independent entities, as part of the multi-year transformation program. Its newly formed entity, Upstream will include five business units such as bauxite, alumina, aluminum, casting, and energy. These units are currently operating under its global primary products unit. The second independent entity will operate as Arconic and offer global rolled products, transportation and construction solutions, and engineered products and solutions.
Ess Dee Aluminium
Ess Dee Aluminium was founded in 1991 and is headquartered in Mumbai, Maharashtra, India. The company engages in the production of primary packaging solutions to diverse industries such as food, pharmaceuticals, and consumer goods. The company, through its advanced packaging solutions segment, provides primary packaging materials to the food, pharmaceuticals, and fast-moving consumer goods sector. It produces technologically advanced products that are designed in adherence to quality standards and as per customer specifications. It operates six manufacturing facilities located in Daman, Goa, and Kolkata.
GARMCO was founded in 1981 and is headquartered in Manama, Bahrain. The company engages in rolling, cutting, and fabricating aluminum for high-quality aluminum FRP. It operates through a network of 16 subsidiaries and affiliate companies located in Asia, the Middle East, Australia, Europe, and the US. It produces products that are in adherence to ISO 9001:2008, ISO 18001:2007, ISO 14001:2004, ISO 27001:2005, and ISO 22301:2012 for quality management system.
Hindalco Industries was founded in 1958 and is headquartered in Mumbai, Maharashtra, India. The company is an integrated aluminum manufacturer and operates bauxite mines and engages in the refining of alumina. It carries out business activities through two segments, copper, and aluminum. It also engages in the smelting of alumina into aluminum and the production of semi-fabricated rolled and extruded products. Its product offering includes aluminum ingots, rolled flat steel, and steel rods products. The company operates as part of Aditya Birla Group.
Norse Hydro was established in 1905 and is headquartered in Skoyen, Oslo, Norway. The company is an integrated aluminum company that is involved in the production and supply of alumina and aluminum products. It provides aluminum products to diverse industries such as building, automotive, packaging, lithographic, and transportation. It operates production facilities in Australia, Brazil, Europe, Canada, and Qatar.
RUSAL was formed in 2007 and is headquartered in Moscow, Russia. The company undertakes the production and sale of aluminum and related products. Its products include primary aluminum, aluminum alloys, bauxite and alumina, high-purity aluminum, aluminum coarse and fine powders, foil and packaging, silicon, chemical products, corundum, gallium, and wire rods. The company operates through four segments: aluminum, alumina, energy and mining, and metals. Of these segments, aluminum and alumina are considered as core segments of the company.
The research study on “Global Aluminum Foils Market 2016-2020“ presents a comprehensive analysis of the global aluminum foils market by end user (industrial, consumer packaging, and pharmaceutical packaging), by type (container, household, finstock, lidding, converter foils, pharma foils, cable wrap, and others), and by geography (the Americas, APAC, Europe, and ROW).
More information can be found under technavio.com.
Source: Business Wire