DUBLIN, Feb. 14, 2018 /PRNewswire/ --
The "Global Aluminum Foil Market 2017-2021" report has been added to ResearchAndMarkets.com's offering.
Global aluminum foil market to grow at a CAGR of 5.22% during the period 2017-2021.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
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.
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.
Key Vendors
- Alcoa
- Ess Dee Aluminum
- Gulf Aluminium Rolling Mill
- Hindalco Novelis
- Norsk Hydro
- RUSAL
Other Prominent Vendors
- Assan Alminyum Sanayi ve Ticaret
- Laminazione Sottile
- Iberfoil
- Symetal
- Chinalco Henan Luoyang Aluminum Foil
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Segmentation by End-User
Part 06: Regional Landscape
Part 07: Decision Framework
Part 08: Drivers and Challenges
Part 09: Market Trends
Part 10: Vendor Landscape
Part 11: Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/wgn3gn/global_aluminum?w=5
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SOURCE Research and Markets
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