Alcoa Corp., Amcor Plc and Ardagh Group SA are expected to remain the top players in the aluminum foil market during 2021-2025
The aluminum foil market is expected to grow at a CAGR of almost 6%. The growth can be mainly attirbuted to growth in pharma & medical devices sector and the unique business strategies adopted by vendors to capitalize on the fast-growing market segments.
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Based on the COVID-19 impact analysis done in the report, the aluminum foil market is expected to experience a Positive impact throughout the forecast period. According to the report, market growth is likely to Neutral as compared to 2020. The pandemic-focused report highlights the impact of various factors such as lockdowns, supply chain disruptions, demand destruction, and change in customer behavior during 2020.
Companies across the globe are focusing on creating a Resilient Business Model in the Face of COVID-19. Vendors are continuing their ongoing operations while building resilient business models as the path to recovery from the pandemic is being carved out.
The recovery process involves various phases including:-
- Existing business model recognition
- Building Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Assessing the Impact on Critical IT infrastructure and Software System
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Aluminum Foil Market 2021-2025: Segmentation
Aluminum foil market is segmented as below:
- Application
- Food And Beverage Packaging
- Consumer Packaging
- Pharmaceutical Packaging
- Others
- Geography
- APAC
- Europe
- North America
- South America
- MEA
The aluminum foil market is driven by growth in pharma & medical devices sector. In addition, other factors such as increase in global consumption of processed and packaged food products are expected to trigger the aluminum foil market toward witnessing a CAGR of over almost6% during the forecast period.
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