Globally, the aluminum foil market is witnessing tremendous growth from developing markets mainly due to robust economic growth and expanding working class with increasing disposable income. Moreover, the transition in lifestyle which involves modified food habits has also increased the demand for the aluminum foil market.
The global aluminum market can be divided into non-packaging and packaging applications. For non-packaging applications, aluminum foils are utilized in capacitors and cable wrap and the heat transferring tube in the air conditioners. In the case of packaging applications, it is used to protect the food from chemical, climatic, and environmental hazards.
Let’s have an in-depth analysis of the global aluminum foil market.
Global Market Size of Aluminium Foil
The global aluminum foil market is anticipated to rise at a CAGR of 5.5 percent by 2020 to touch 6.4 MMT during the projected time. China holds the largest share of the global aluminum market. This is largely credited to the expertise of Chinese companies to manufacture aluminum foils at a cheaper cost than foreign competitors. India is another emerging region, which has a higher cost of aluminum foil as opposed to other regions owing to the greater cost of raw materials and elevated excise … Readmore
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