Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Aluminum laminated film is an aluminum foil or resin film composite material, which offers higher flexibility in molding, better heat dissipation, and it is light weight compared to metallic cans. These aluminum laminated film is widely used as packaging material for lithium-ion batteries. Lithium ion batteries are categorized into cylindrical cell, button cell, prismatic cell, and pouch cell according to their shape and packaging. Aluminum laminated film is used for packaging of the pouch cells. The aluminum laminated film consists of a nylon layer, an aluminum layer, and a sealing layer in order from outside to inside. The nylon layer is used to form an aesthetically pleasing shape and to prevent oxygen & moisture from entering inside the battery. The main function of aluminum foil is to further prevent entry of oxygen and moisture in the air, and also serve as a skeleton for supporting outer shape of aluminum laminated film. The sealing layer offer heat sealing adhesion between two layers of aluminum laminated film, while protecting the aluminum layer from corrosive action of electrolyte.
The global aluminum laminated film market is estimated to reach US$ 88.7 million by the end of 2027, exhibiting a CAGR of 15.0% over the forecast period, owing to increasing demand for e-scooter from micro-mobility companies. Aluminum laminated film is used for packaging of lithium-ion batteries, which finds application in consumer electronics, e-bikes & e-scooters, power tools, and electric vehicle batteries.
With increasing demand for various micromobility channel for short-distance travel, micro-mobility companies have started providing various micro mode of transportations 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 mode of transportation in the recent years. Various e-scooter mobility startups have emerged in developed countries such as the U.S. and Germany in the recent years. For instance, in September 2017, Bird Rides Inc., an e-scooter micromobility company, was established in the U.S. In a period of two years, the company expanded its shared electric scooters business in over 100 cities in the U.S., Europe, and the Middle East. Moreover, the company completed 10 million rides in its first year of operation. The aforementioned factors are expected to drive demand for e-scooters from micromobility companies, thereby driving the market growth.
However, swelling or bulging occurs in pouch lithium-ion batteries, in which laminated aluminum foil is used. Swelling is a result of gas generation during charging and discharging. The pressure from swelling can crack a battery cover, and in some cases break the display and electronic circuit board. These factors are expected to hamper demand pouch lithium-ion batteries, which can further hamper market growth of aluminum laminated film over the forecast period. Moreover, to prevent swelling, battery manufacturers add excess film to create a gas bag outside the cell. During the first charge, gases escape into gasbag, which is then cut off, and the pack is resealed as part of the finishing process.
The global aluminum laminated film market was valued at US$ 28.9 million in 2019 and is expected to exhibit a CAGR of 15.0%, in terms of revenue over the forecast period (2020-2027).
Figure 1. Global Aluminum Laminated Film Market Share (%) in terms of Value, By Region, in 2019
Among regions, Asia Pacific accounted for the largest market share in 2019, owing to increasing demand for consumer electronics products across the region. For instance, according to the India Brand Equity Foundation, the India consumer electronics market was valued at US$ 10.93 billion in 2019 and is expected to reach US$ 21.18 billion by 2025.
Moreover, prominent players operating in the aluminum laminated film are focused on adopting strategies such as product development to strengthen their position in the global market. For instance, in 2015, Showa Denko K.K. developed its new aluminum laminated films with electro conductivity, which can be used for packaging of lithium ion batteries and a new technology to apply these laminates to ultra-thin lithium ion batteries. The company gave electro conductivity to aluminum laminated films by surfacing one side of them with cathode or anode metal layer. The new laminates eliminates the necessity to deposit tab-leads on cathode and anode, which results in downsizing and weight reduction of lithium ion batteries.
Figure 2. Global Aluminum Laminated Film Market – Opportunity Analysis
Major players operating in the global aluminum laminated film market include Showa Denko K.K., Avocet Steel Strip Ltd., T&T Enertechno Co., Ltd., Daoming Optics and Chemical Co., Ltd., Nanografi Co. Inc., AME Energy Company, Dai Nippon Printing Co., Ltd., Selen Science & Technology Co., Ltd., Targray Technology International, and Gelon LIB Group