Aluminium Foil Market

The global aluminium foil market is projected to grow over the next eight years, with an expected increase in both volume and value. Despite a decline in consumption in 2022, the overall trend has been positive, with noticeable fluctuations recorded throughout the analyzed period. China, India, and the United States are the top consumers of aluminium foil, while Turkey stands out for the highest growth rate in the market size. Production, exports, and imports of aluminium foil have also shown a moderate expansion, with China leading in production and exports. The average import and export prices have seen a rise in 2022, indicating a positive growth trend in the aluminium foil market.

Market Forecast

Driven by increasing demand for aluminium foil worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market volume to 8.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $58B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Aluminium Foil

In 2022, after six years of growth, there was significant decline in consumption of aluminium foil, when its volume decreased by -6.2% to 6.7M tons. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at 7.1M tons in 2021, and then shrank in the following year.

The global aluminium foil market size reduced modestly to $36.3B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +60.2% against 2015 indices. Over the period under review, the global market hit record highs at $36.8B in 2021, and then reduced modestly in the following year.

Consumption By Country

China (1.6M tons) constituted the country with the largest volume of aluminium foil consumption, accounting for 24% of total volume. Moreover, aluminium foil consumption in China exceeded the figures recorded by the second-largest consumer, India (662K tons), twofold. The United States (599K tons) ranked third in terms of total consumption with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +4.9%. In the other countries, the average annual rates were as follows: India (+5.4% per year) and the United States (+5.5% per year).

In value terms, the largest aluminium foil markets worldwide were China ($5.4B), Turkey ($4.3B) and Japan ($3.7B), together accounting for 37% of the global market.

Turkey, with a CAGR of +10.9%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of aluminium foil per capita consumption in 2022 were Italy (5.2 kg per person), Canada (4.6 kg per person) and Poland (3.2 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Turkey (with a CAGR of +8.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Aluminium Foil

After six years of growth, production of aluminium foil decreased by -6.3% to 6.7M tons in 2022. Overall, the total production indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 17% against the previous year. Over the period under review, global production reached the peak volume at 7.1M tons in 2021, and then contracted in the following year.

In value terms, aluminium foil production reduced to $35B in 2022 estimated in export price. In general, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +13.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 32% against the previous year. Over the period under review, global production attained the peak level at $47.7B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of aluminium foil production was China (3M tons), accounting for 45% of total volume. Moreover, aluminium foil production in China exceeded the figures recorded by the second-largest producer, India (516K tons), sixfold. Japan (388K tons) ranked third in terms of total production with a 5.8% share.

In China, aluminium foil production expanded at an average annual rate of +6.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+4.7% per year) and Japan (+3.7% per year).

Imports

World Imports of Aluminium Foil

For the eleventh year in a row, the global market recorded growth in overseas purchases of aluminium foil, which increased by 7% to 3.5M tons in 2022. The total import volume increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 8.6% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, aluminium foil imports soared to $18.6B in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.0% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (351K tons), followed by Germany (210K tons), India (194K tons), Mexico (164K tons) and Thailand (164K tons) represented the major importers of aluminium foil, together constituting 31% of total imports. France (147K tons), Italy (132K tons), Poland (126K tons), the UK (115K tons), the United Arab Emirates (103K tons), South Korea (81K tons), Indonesia (81K tons) and China (79K tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +14.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest aluminium foil importing markets worldwide were the United States ($1.9B), Germany ($1.2B) and China ($909M), with a combined 22% share of global imports. India, Thailand, Mexico, Italy, Poland, France, the UK, Indonesia, South Korea and the United Arab Emirates lagged somewhat behind, together accounting for a further 34%.

Indonesia, with a CAGR of +15.4%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average aluminium foil import price stood at $5,331 per ton in 2022, surging by 15% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $5,353 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($11,507 per ton), while the United Arab Emirates ($3,830 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Aluminium Foil

In 2022, global exports of aluminium foil rose significantly to 3.5M tons, growing by 6.7% compared with the year before. The total export volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 18%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, aluminium foil exports skyrocketed to $18.5B in 2022. In general, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports By Country

In 2022, China (1.5M tons) was the key exporter of aluminium foil, creating 42% of total exports. It was distantly followed by Germany (296K tons), mixing up an 8.5% share of total exports. Italy (151K tons), Turkey (142K tons), Thailand (126K tons), the United States (120K tons), Greece (93K tons), South Korea (93K tons), Japan (88K tons), the United Arab Emirates (61K tons), France (61K tons), Belgium (59K tons) and Malaysia (53K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to aluminium foil exports from China stood at +8.4%. At the same time, Thailand (+30.3%), the United Arab Emirates (+22.8%), Turkey (+8.7%), Japan (+6.1%), Greece (+5.7%), South Korea (+3.4%), Belgium (+2.4%), Malaysia (+2.3%) and Italy (+2.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +30.3% from 2012-2022. France, the United States and Germany experienced a relatively flat trend pattern. While the share of China (+14 p.p.) and Thailand (+3.3 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (-2 p.p.) and Germany (-5.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($6.7B) remains the largest aluminium foil supplier worldwide, comprising 36% of global exports. The second position in the ranking was held by Germany ($1.9B), with a 10% share of global exports. It was followed by Italy, with a 5.2% share.

In China, aluminium foil exports expanded at an average annual rate of +10.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+0.7% per year) and Italy (+3.1% per year).

Export Prices By Country

In 2022, the average aluminium foil export price amounted to $5,337 per ton, growing by 16% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($9,097 per ton), while the United Arab Emirates ($2,284 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+3.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform