ALUMINUM LAMINATED FILM MARKET ANALYSIS

Aluminum Laminated Film MarketSize and Trends

Global aluminum laminated film market was valued at US$ 44.1 Mn in 2022, and is expected to exhibit a CAGR of 16.7%, in terms of revenue, over the forecast period (2023-2030) to reach US$ 152.1 Mn by 2030. Aluminum laminated film is a composite material made of aluminum foil or resin film that offers greater molding flexibility, better heat dissipation, and is lighter weight than metallic cans. Lithium-ion batteries, which are used in consumer electronics, e-bikes and e-scooters, power tools, and electric vehicle batteries, are frequently packaged using this aluminum laminated film.

Figure 1. Global Aluminum Laminated Film Market, By Process, in 2022

Global Aluminum Laminated Film Market: Growth Drivers

Increasing Demand for Lithium-Ion Batteries for Various Electrical Applications

Increasing demand for various micro-mobility channels for short-distance travel, micro-mobility companies have started providing various micro modes of transportation such as e-bikes and e-scooters. These vehicles provide the convenience of pickup and drop-off anywhere and are cost-efficient. There has been significant growth in the adoption of these micro-mobility modes of transportation in recent years. Various e-scooter mobility startups have emerged in developed countries such as the U.S. and Germany in recent years.

Growing Demand for Aluminum Laminated Film in Packaging & Pharmaceutical Industry

Aluminum laminated film market growth is being driven by rising demand from the food packaging industry and rising demand from the pharmaceutical industry. Because of its high barrier properties and ability to keep food products fresh for longer periods, aluminum laminated film is widely used in the food packaging industry. Aluminum laminated film demand is expected to rise in response to rising demand for convenience foods and ready-to-eat foods. Aluminum laminated film is also widely used in the pharmaceutical industry for drug and medicine packaging. For instance, According to the European Aluminium Foil Association, demand for aluminum foil increased to 494,000 tones in H1 2022.

Market- Trends

The market is witnessing substantial growth driven by increased adoption of electric vehicles and advancements in battery technology. Additionally, innovations in aluminum laminated films have led to better performance and durability, which is further propelling market growth. The use of these films in packaging is also evolving with environmentally friendly and recyclable options becoming popular trends.