A report from September by Precedence Research estimates the global aluminium foil market will grow by more than 50% by 2034. The forecast is we’ll see growth from $30.84bn currently to an impressive $48.46bn. A number of key trends will drive this, including higher demand for sustainable foils to comply with green goals.
Alternatives to plastic
One of the hottest topics at the moment is microplastics and the huge impact they can have on our health and wellbeing. There are lots of newer studies about the problems they cause, such as organ damage. As a result, people are being more careful than ever when they consider how food and other products are packaged.
The attitude towards plastics is encouraging wider use of aluminium foils as an alternative. Foil is safe and reliable for various types of packaging. Crucially, the amount of barrier protection is exceptional. It means businesses could change to a more popular type of packaging and actually improve shelf life in the process. Additionally, the sustainability of foil is very attractive if you compare to plastics.
Innovation
Another major trend in aluminium foil is the pursuit of innovative new products or developments. There are some notable ones, including pouches with spouts for easy pouring, thinner foils, and flexible packaging. All of this translates into higher demand, especially if new innovations catch on.
Diversification
Sustainable foils are also growing in popularity because people are using them for an array of different applications. The days of them being for cooking and packaging alone are long gone. Now there is demand from various areas, including industrial applications like energy.
A key area with high demand is electronics. Aluminium foil is very good at protecting products from magnetic interference, moisture, and heat. As a result, it can ensure they last longer. This is especially important for sensitive equipment. Plus, foils are good for protecting batteries, so the growth in the EV market means higher demand.
E-commerce
Finally, the e-commerce market means higher demand for foils. Businesses want more effective packaging to preserve different products during shipping. At the same time, they want to save costs. Foil can provide fantastic results, especially with things like space saving pouches and wraps.
One area of e-commerce in particular that is growing rapidly is food. More and more people are ordering foods online and getting them delivered for the convenience. There is also a wider selection of meal kit services. Foils are great for various applications here to ensure foods can be shipped safely.
Speak to us about sustainable foils
As you can see, there are a number of noteworthy trends in the aluminium foil market. There’s a lot of potential, and a very good chance that the forecast of massive growth could be achievable. It’s great news for manufacturers, suppliers, and other stakeholders.
As one of the leading foil specialists in the UK, we’re in the ideal position to help businesses explore the benefits. You can speak to us about various applications for sustainable foils. We can look at the advantages and sustainability. The latter is crucial as there is a bigger focus than ever on caring for the environment.
So, speak to us if you want to learn more.