With a growing collection of single-serve packaging systems in the market, aluminium slugs are expected to secure a positive opportunity in the packaging industry. Healthcare, paint, food & beverage, pharmaceuticals and many other industries are looking at an increasing use of aluminium slugs for having eco-friendly and recyclable properties. Moreover, they are widely available and easy to be reshaped for the convenience of the customers.
Market dynamics:
The aluminium slugs market is expected to witness an optimistic growth over the forecast period due to the rising demand for smaller and convenient slugs for extrusion. According to the anticipation, personal care and beauty products will bring aluminium slugs more into use for having an extended shelf life and a safe approach to administering a wide assortment of items.
Expectedly, paint and food & beverages industries will increase to offer products made with aluminium slugs. Recyclable properties are one of its many components that will play an important role in driving the development of aluminium slugs market. However, the increment in power rates which is to mount the manufacturing cost for aluminium might impact the cost for slugs in return. Fluctuating raw material prices, in addition to stringent norms from local government may also appear as a challenge to aluminium slugs market.
Market segmentation:
The aluminium slugs can be categorised into segments like shape, including flat, round, and rectangular; application, including aerosol cans, aluminium collapsible tubes and automotive cans; and end use industry, including food & beverage, pharmaceutical, cosmetic & personal care, electrical & electronics.
Regional overview:
Aluminium slugs market can be segmented further on the basis of regions – North America, Latin America, Eastern Europe, Western Europe, APEJ, Middle East & Africa, and Japan. Besides North America, which already enjoys a prominence for generating the highest revenue, India and China are also likely to have substantial revenue growth in the emerging economies, owing to relatively large aluminium ore industry and technological advancements.
Furthermore, Western Europe Asia Pacific, Latin America, Brazil and Mexico are expected to witness an uptrend in the aluminium slugs market. Middle East and Africa are also apprehended to experience an augmented revenue contribution from sales in South Africa and GCC.
Key players:
Few key players in the aluminium slugs market include Ball Corp, Neuman Aluminium Austria GmbH, Impol, d.o.o., Aluminium-Werke Wutöschingen AG & Co.KG, Jindal Aluminium Limited, Haomei Aluminum Co., Ltd., Nansen Industry Co., Ltd., Alucon PCL, Rheinfelden Semis Gmbh & Co. Kg, Aluman Sa.
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