Aluminum Market size estimated to be valued at USD 138.1 billion in 2021 and is poised to grow at a significant CAGR of 6.4% over 2022-2028. Aluminum is used to make cans, foils, culinary utensils, window frames, beer kegs, and aeroplane components. Aluminum is chosen for the packaging purpose over other materials like glass and plastic due to its unique characteristics like low density, non-toxic, good thermal conductivity, corrosion resistance, and can be cast, machined, and shaped with ease. Players are focused to expand their production capacity by establishing new plants. For instance, Ball Corporation intends to begin the construction of a new production facility in Czech Republic to expand to aluminum production capacity. Increasing demand for aluminum from end-user industries, stringent regulations on plastic usage, investments by the companies to enhance the production capacities, and technological advancements in aluminum production are expected to increase the revenue of the market over the forecast years.
In May 2020, Amcor is a global leader in packaging solutions partnered with coffee producer Dualit on the development of their recyclable Aluminum coffee capsules.
In 2019, Tecnocap Group entered a partnership with Sauce Connection and produced aluminum refill bottles and introduced PURE aluminum bottles & aerosol can made of 100% recycled aluminum.