MRC recognizes the following companies as the key players in the global aluminum foil market: Alcoa, Ess Dee Aluminum, Gulf Aluminium Rolling Mill, HindalcoNovelis, Norsk Hydro, and RUSAL.
Other Prominent Vendors in the market are: AssanAlüminyumSanayiveTicaret, LaminazioneSottile, Iberfoil, Symetal, and CHINALCO HENAN LUOYANG ALUMINUM FOIL.
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Increasing product innovations. Major vendors are competing with new product innovations to meet the global demand for aluminum foils. Norsk Hydro has introduced HyLectra, which is aimed at environment-friendly battery production combined with ideal efficiency. It is predominantly used in battery production as cathode current collectors. Aluminum foils offer high surface area resulting in amenability of the battery. Therefore, innovation in technology and products by aluminum foil vendors is expected to affect the global aluminum foil market positively.”
According to the report, one of the major drivers for this market is Disadvantages of plastic packaging. Developments in technology and innovative product designs are promoting the need for new packaging materials for pharmaceutical products. There has been a shift from using glass containers and vials to plastic bottles and containers made from low-density polyethylene and high-density polyethylene. Though these packaging materials are convenient to use, with fewer breakage chances, and cheaper, they are not impervious to leaching of chemicals from lacquers, paper, or film face stocks, adhesives, topcoats, label inks, or even the container itself, which could contaminate the medicine inside. In addition to this, safe and cost-effective disposal of plastics used for packaging is another sustainability concern faced by the global pharmaceuticals packaging industry. On the other hand, aluminum packaging is safer to use and easily recyclable.
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Further, the report states that one of the major factors hindering the growth of this market is Increasing closures of aluminum smelting units. Aluminum smelting and casting manufacturers mainly depend on energy resources such as natural gas and electricity. Due to the energy-intensive processing, electricity expenses account for approximately 60% of the total cost of aluminum casting production. Due to power shortages and soaring power prices, the manufacturing units are shutting down. For instance, in February 2017, Rio Tinto Boyne Island aluminum smelter has announced cutting the production in the manufacturing unit, as the price of electricity hiked to $12,642 per megawatt per hour. Therefore, downstream products, such as foils, sheet, coils, and plates, are expected to have a lower volume. This is expected to affect the global aluminum foil market negatively.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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