Aluminum Foil Market Size, Share & Trends Analysis Report By Product (Wrapper Foils, Container Foils), By End-use (Packaging, Industrial), By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the aluminum foil market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for aluminum foil market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of aluminum foil market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Aluminum Foil Market Categorization:

The aluminum foil market was categorized into three segments, namely product (Wrapper Foils, Containers Foils, Foil Lids, Pouches, Blister Packs), end-use (Packaging, Industrial), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The aluminum foil market was segmented into product, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The aluminum foil market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; Italy; Turkey; Russia; China; India; Japan; South Korea; Indonesia; Brazil; Argentina; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Aluminum foil market companies & financials:

The aluminum foil market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Carcano Antonio S.p.A. - Carcano Antonio S.p.A., founded in 1880 and headquartered in Mandello Del Lario, Italy, is a renowned manufacturer of aluminum foils. The company serves various industries, including pharmaceuticals, food & beverages, and insulation. It operates three strategically coordinated plants in Italy. Mandello del Lario and Andalo Valtellino facilities are dedicated to converting production, while the Delebio plant focuses on rolling. Carcano Antonio S.p.A. holds UNI EN ISO 14001:2015, UNI EN 9001:2015, and UNI EN ISO 50001:2018 certifications. The Andalo Valtellino and Mandello plants specialize in producing solutions for the pharmaceutical and food industries. With a comprehensive infrastructure, the company possesses one foundry, one hot rolling mill, one cold rolling mill, four doubling machines, eight foil rolling mills, four printing machines, four coloring machines, six lacquering machines, and six laminating machines. Carcano Antonio S.p.A. is fully integrated across the value chain, from sourcing raw materials to delivering finished aluminum products. Its product range includes slabs, hot-rolled-foil stocks, and foils. Adhering to Good Manufacturing Practices (GMP), the company ensures a seamless production process without interruptions, starting from the casting process in the foundry. As of July 2022, Carcano Antonio S.p.A. employed over 450 dedicated professionals.

• Amcor plc - Amcor plc, founded in 1860, has its headquarters in Zurich, Switzerland. The company specializes in flexible and rigid packaging solutions, catering to various industries such as pharmaceutical packaging, medical, food & beverage, home, and personal care. With a global presence, Amcor operates in Europe, North America, Asia, and Latin America. It has established joint ventures in more than 59 countries, solidifying its position in the market. As of June 2021, Amcor employed 46,000 individuals who contribute to the company's operations across various regions and divisions, including manufacturing, distribution, and sales.

• Assan Alüminyum Sanayi ve Ticaret A.Ş. - Assan Alüminyum Sanayi ve Ticaret A.Ş., established in 1988 and based in Istanbul, Turkey, operates as a subsidiary of Kibar Holdings. The company specializes in producing pre-painted aluminum products, coils & sheets, flat-rolled aluminum, and foils. These high-quality products cater to various industries, including automotive, packaging, industrial, energy, consumer durables, and construction. Assan Alüminyum Sanayi ve Ticaret A.Ş. boasts two state-of-the-art production facilities in Kocaeli and Istanbul, Turkey, with a combined annual production capacity of 300 kilotons. Furthermore, it is one of Europe's leading aluminum foil manufacturers, with an impressive yearly production capacity of 100 kilotons. The company's global reach extends to over 70 countries, as it successfully exports its products worldwide. As of July 2022, Assan Alüminyum Sanayi ve Ticaret A.Ş. employs a dedicated workforce of more than 1,500 skilled personnel.

• Ess Dee Aluminium Ltd. - Founded in 1991 and headquartered in Mumbai, India, Ess Dee Aluminium Ltd. operates four manufacturing units across Daman, Goa, and Kolkata. With a focus on meeting the demands of various industries, including pharmaceuticals, FMCG, and food & beverages, the company has established itself as a reliable provider of products and services. In addition to serving a diverse customer base of 250 clients, Ess Dee Aluminium Ltd. also exports its offerings to over 50 countries. Notable customers of the company include GSK, Pfizer, Cadbury, Nestle, Hindustan Latex, Dr. Reddy's, Sun Pharma, Lupin, Wrigley, and Cipla.

• Eurofoil - Eurofoil, founded in 1982 and based in Luxembourg, is a subsidiary of the American Industrial Acquisition Corporation (AIAC), a private equity group specializing in the metal industry. With expertise in the manufacturing and distribution of aluminum foils and packaging products, Eurofoil serves various sectors, including automotive, pharmaceuticals, food & beverage, and industrial. The company operates two production facilities in Dudelange, Luxembourg, and Rugles, France, along with an innovation center in Luxembourg. Eurofoil holds certifications such as ISO 14001, ISO 9001, ASI Performance Standard, and ASI Chain of Custody. Notably, the Rugles plant focuses on the production of aluminum foils.

• Hindalco Industries Ltd. - Hindalco Industries Ltd., established in 1950 and based in Maharashtra, India, is a prominent player in the copper and aluminum products market. It operates as a subsidiary of Aditya Birla Management Corporation Pvt. Ltd. and is recognized as one of Asia's largest producers of primary aluminum. Additionally, it holds a significant position as one of the leading aluminum rolling companies worldwide. Aditya Birla Management Corporation Pvt. Ltd., founded in 1857 and headquartered in Mumbai, Maharashtra, India, is a distinguished member of the Fortune 500. The company operates across various sectors, including telecom, cement, textiles, carbon black pulp, metals, fashion retail, renewable energy, and financial services. With a workforce exceeding 140,000 employees and a presence in over 36 countries as of July 2022, the group has established 48 operational locations and 23 mining locations across nine countries. As of March 2021, the company boasted over 70,000 employees.

• Laminazione Sottile S.p.A. - Laminazione Sottile S.p.A., founded in 1923, is headquartered in Marco Evangelista CE, Italy. The Laminazione Sottile Group consists of eight companies, namely Italcoat, Laminazione Sottile, Contital, IPS Industrial Packaging Solution, i2r Packaging Solution LTD, Contital Turkey, i2r Korea, and PLLANA GmbH. This group operates within an integrated production chain. The company provides its products and services to various industries, including packaging, automotive, building and design, aerospace, HVAC, cookware, and pipes. IPS Industrial Packaging Solution specializes in manufacturing aluminum foils for flexible packaging, while i2r Korea focuses on distributing semi-rigid aluminum containers.

• Shanghai Metal Corporation - Shanghai Metal Corporation, founded in 1980 and headquartered in Shanghai, China, is a renowned manufacturer and supplier of a wide range of building materials, metal products, machinery, and shipping containers. The company's metal division encompasses stainless steel, aluminum, copper, and steel products. Notably, Shanghai Metal Corporation's aluminum foil plant boasts 18 mills equipped with Honeywell International Inc.'s gauge control system and Siemens' flatness control system. In addition to this, the company possesses six cold mills, 19 continuous casting lines, 40 cutting/slitting/separating lines, 70 annealing furnaces, and various other cutting-edge equipment. With a global presence, Shanghai Metal Corporation operates in multiple countries, including Japan, Germany, Italy, and the United States.

• UACJ Corporation - UACJ Corporation traces its roots back to 1890 when it was established as Furukawa-Sky Aluminum Corp. In 2013, Furukawa-Sky Aluminum Corp. joined forces with Sumitomo Light Metal Industries, Ltd. to create UACJ Corporation. The company is headquartered in Tokyo, Japan. With an annual production capacity exceeding 1 million tons, UACJ Corporation specializes in flat-rolled products. Additionally, the company offers a diverse range of products, including automotive parts, extruded products, foil products, cast & forged products, and precision machined products. Its customer base spans across various industries such as automotive, aerospace, HVAC, shipping, packaging, and machine & tooling. UACJ Corporation has established a global presence, operating in countries such as Thailand, China, Korea, the Czech Republic, Malaysia, Vietnam, Mexico, Indonesia, Australia, and Japan. As of March 2021, the company boasted a workforce of 9,722 employees.

• Xiashun Holdings Limited - Xiashun Holdings Limited, established in 1988 and based in Xiamen, China, is a subsidiary of Daching Enterprises Limited. The company operates three production bases: Haicang Aluminum Foil Plant, Huli Aluminum Foil Plant, and Haicang Aluminum Sheet Plant. Renowned as one of the largest manufacturers of aluminum foils globally, Xiashun Holdings boasts an impressive annual production capacity of 120 kilotons for aluminum foils and 220 kilotons for aluminum sheets. Its aluminum foil segment primarily serves industries such as packaging and batteries, and it proudly stands as a prominent supplier to the esteemed flexible packaging company Tetra Pak Group. With a global reach, Xiashun Holdings sells its products in various countries, including the United States, Italy, France, Germany, and South Korea.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Aluminum Foil Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Aluminum Foil Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.