Aluminum Foil Market to Rise at a CAGR of 5.62% by the end of 2026 , Owing to its Ability to Prevent Contamination

Los Angeles, February, 2020 - Aluminum foil is primarily used to protect food from external bacteria therefore, it is increasingly being adopted by many people. QY Research has recently published a report titled "Global Aluminium Foil Market Report, History and Forecast 2014-2026, Breakdown Data by Manufacturers, Key Regions, Types and Application", predicting the growth and opportunities that lie in the global market. According to the report, the global aluminium foil market was worth US$3910.36 mn during 2018 and is expected to rise to US$5854.72 mn by the end of 2026, registering a CAGR of 5.62% during the forecast period.

Competitive Landscape

The key players operating in the global aluminium foil market are Hindalco, Reynolds Group, Hydro, UACJ, Amcor, RUSAL, Aleris, Lotte Aluminium, Symetal, and Alibrico Packaging.

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Demand for Sterile Packaging to Boost the Demand for Aluminium Foil

Aluminium foil market is expected to rise during the forecast period as it is majorly used by food industry for packaging food items to protect them from bacteria and germs. Aluminium foil is used in food and beverages industry for sealing food odour and increase the shelf life of the food. Aluminium foil can withstand heat thus, the food packed in it can be remain hot or can be reheated easily. It acts as the perfect packaging material as it prevents leakage and easily moulds itself according to the shape. It is effective for energy conservation as aluminium foil is 88% reflective, making it the most efficient solar heat insulator.

Aluminium foil is used for cigarette packaging as it is moisture-proof and prevents external stale odour, taste, or light to affect the cigarettes. Aluminium foil is the most preferred material for packing pharmaceuticals as it is impenetrable to gases, oxygen, moisture, micro-organisms, and light. It helps it to keep the medication in perfect condition as packaging is the most important step in pharma industry.

Pharmaceutical Segment to Flourish as Need to Maintain Medical Hygiene is Paramount

The pharmaceutical segment is expected to rise in demand as packaging of medicines appropriately is crucial to the healthcare industry. The properties of aluminium foil protect the product from light, micro-organism, gases, oxygen, and moisture. Aluminium foil market will augment as it maintains the medical hygienic standards customary in pharmaceutical industry.

North America Expected to Lead the Global Market Owing to Investments for Biomedical Research

North America is expected to lead the global market during the forecast period as this region is technologically advanced. Governments in this region are extensively investing in biomedical research that is boosting the pharmaceutical market thus, boosting the market for aluminium foil.

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