April 25, 2022 13:00 ET | Source: IndexBox, Inc. IndexBox, Inc.
NEW YORK, April 25, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'U.S. – Aluminium Foil - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
U.S. Aluminium Foil Market Statistics
In 2021, the U.S. aluminium foil market decreased by -1.6% to $2.4B, falling for the third year in a row after three years of growth. Over the period under review, consumption, however, continues to indicate noticeable growth. Aluminium foil consumption peaked at $3.3B in 2018; however, from 2019 to 2021, consumption failed to regain the momentum. REQUEST FREE DATA
U.S. Aluminium Foil Production
In value terms, aluminium foil production fell to $2.1B in 2021. Over the period under review, production, however, showed a buoyant increase. Over the period under review, production attained the peak level at $2.3B in 2018; however, from 2019 to 2021, production failed to regain the momentum. REQUEST FREE DATA
U.S. Aluminium Foil Exports
In 2021, shipments abroad of aluminium foil increased by 23% to 120K tonnes for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports saw a relatively flat trend pattern. Exports reached the peak of 154K tonnes in 2011. From 2012 to 2021, the growth exports failed to regain the momentum. REQUEST FREE DATA
In value terms, aluminium foil exports surged to $654M in 2021. The total export value increased at an average annual rate of +1.0% from 2007 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2011 when exports increased by 31% y-o-y. As a result, exports attained the peak of $742M. from 2012 to 2021, the growth exports failed to regain the momentum.
Mexico (86K tonnes) was the main destination for aluminium foil exports from the United States, with a 72% share of total supplies. Moreover, aluminium foil exports to Mexico exceeded the volume sent to the second major destination, Canada (9.7K tonnes), ninefold.
In value terms, Mexico ($398M) remains the key foreign market for aluminium foil exports from the United States, comprising 61% of total volume. Canada ($80M), with a 12% share of total exports, took the second position in the ranking. It was followed by the UK ($33.5M).
From 2007 to 2021, the average annual growth rate of value to Mexico stood at +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-7.4% per year) and the UK (-0.2% per year).
The average aluminium foil export price stood at $5,452 per tonne in 2021, with an increase of 5.2% against the previous year. There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Canada ($8,216 per tonne), while the average price for exports to Mexico ($4,621 per tonne) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced mixed trend patterns.
U.S. Aluminium Foil Imports
In 2021, aluminium foil imports into the United States surged to 173K tonnes, jumping by 17% on the year before. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2010 when imports increased by 23% y-o-y. Imports peaked at 296K tonnes in 2019; however, from 2020 to 2021, imports remained at a lower figure.
In value terms, aluminium foil imports skyrocketed to $816M in 2021. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when imports increased by 26% y-o-y. Over the period under review, imports attained the peak figure at $1.4B in 2018; however, from 2019 to 2021, imports remained at a lower figure.
China (43K tonnes), South Korea (26K tonnes) and Germany (21K tonnes) were the main suppliers of aluminium foil imports to the United States, together comprising 52% of total volume. Thailand, the UK, Luxembourg, Austria, Taiwan (Chinese), Turkey, Canada, Italy, France and Greece lagged somewhat behind, together comprising a further 37%.
In value terms, China ($142M), Germany ($124M) and South Korea ($113M) were the largest aluminium foil suppliers to the United States, together comprising 46% of total imports. These countries were followed by Thailand, Austria, Luxembourg, the UK, France, Canada, Taiwan (Chinese), Italy, Greece and Turkey, which together accounted for a further 36%.
In terms of the main suppliers, Greece saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
In 2021, the average aluminium foil import price amounted to $4,705 per tonne, picking up by 5.3% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was France ($8,573 per tonne), while the price for the UK ($3,078 per tonne) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Canada, while the prices for the other major suppliers experienced more modest paces of growth.
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