Due to its versatility and multiple uses, aluminium foil turns out to become one of the most consumed aluminium products across the world.
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The 4 digit HS92 product is traded around the world to be used in food package, consumer perishable packaging, medicine packaging, flexible package, electric package industries, etc.
India, one of the fasted growing economies in the world is seeing a steady GDP growth in recent years. Owing to strong economic growth and increasing middle class with growing disposable income, consumption of aluminium foil is growing fast in India. The change in life style which includes changed food habits has led to increased demand for foil packaging. Growing demand for ready to eat confectionaries and pharmaceutical products is another major growth drivers for aluminium foils industry in India.
As shown by our data, India imported 1,20,133 tonnes of aluminium foils in 2015, which increased further to total at 1,42,603 tonnes in 2016. For the first eleven months of 2017, the volume of foil import is forecasted to increase to total at 1,48,655 tonnes.
India also produces substantial amount of aluminium foils. Hindalco is India’s premier foil and foil laminates supplier in different variants – plain, laminated, lacquered and printed which are used for various packaging applications. The entire range of products are not only well accepted in India but are also exported to several countries regularly. Companies like Ess Dee Aluminium and Gujarat foils contribute a substantial amount of aluminium foils in India.
In 2015, India exported an estimated 14,512 tons of aluminium foil and the total value of export stood at USD 3.1 billion which increased further to total at 16,448 tonnes in 2016. For the first eleven months of 2017, the export volume of foil is forecasted to total at 16,035 tonnes.
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The top aluminium foil exporters to India are China, Malaysia, and South Korea. The Chinese export is not only cheaper; they are also of good quality and can be easily customised to the client’s requirement. This makes it convenient for end –users to import aluminium foils from China.
The trend shows increasing consumption of aluminium foil in India while indicating the shift towards import. Though export is rising over the last two years, it is apparent that India is still import dependent for its aluminium foil consumption.
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