Aluminum Laminated Film Market to Surpass US$ 88.7 Million by 2027 - Coherent Market Insights

The global aluminum laminated film market was valued at US$ 28.9 million in 2019, according to Global Aluminum Laminated Film Market Report, by Process Type (Thermal Process and Dry Process), by Application (Lithium-ion Battery and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.

The global aluminum laminated film market is expected to reach US$ 88.7 million by 2027, exhibiting a CAGR of 15.0% during the forecast period, owing to increasing demand for aluminum laminated film from lithium-ion battery manufacturers. 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.   

The introduction of fuel efficiency regulations by various governments, promotion of sustainable transportation system by different organizations such as IEA (International Energy Agency) and NACTO (National Association of City Transportation Officials of North America), rising problem of traffic congestion, awareness towards climate change and air quality among population, and increasing demand for economical mode of transportation are driving the market growth of micromobility electric vehicles such as electric kick scooters. The adoption of e-scooters have increased significantly, owing to its lower carbon footprint. E-scooters emit around 1 gCO2e of greenhouse gases per passenger and per km, which is significantly lower than the I.C. engine vehicles. Owing to these benefits, there is increasing demand for electric scooters across the globe, which in turn is expected to boost the expected to boost demand for lithium-ion batteries, which is further expected to drive 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. 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.  

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https://www.coherentmarketinsights.com/market-insight/aluminum-laminated-film-market-3830

Browse 55 market data tables* and 40 figures* on "Aluminum Laminated Film Market” - Global forecast to 2027.

Key Trends and Analysis of the Global Aluminum Laminated Film Market:

• Players operating in the aluminum laminated film market are focusing on adopting various growth strategies such as product development, in order to expand their market presence. For instance, in March 2020, Show Denko K.K. launched a new series of SPALF aluminum laminated films for packaging of large scale lithium-ion batteries. SPALF is a laminated composite film that consists of resins and aluminum foil, which is used as a packaging material for pouch type lithium-ion batteries.

Key Takeaways of the Market:

• Among regions, North America is expected to be the fastest growing region in the global aluminum laminated film market over the forecast period. This is attributed to increasing demand for energy storage systems from power generation sector. Energy storage system uses a group of batteries such as lithium ion batteries to store electrical energy. This is expected to drive demand for aluminum laminated film over the forecast period. Moreover, players operating in energy storage systems market are focusing on business expansion, in order to meet the increasing demand for electricity, which is expected to drive the market growth. For instance, on 2^nd April 2020, Sinexcel ( provider of battery energy storage solutions) announced commissioning of a 72MWh (Megawatt-hour) pair of lithium iron phosphate battery energy storage projects in Illinois and West Virginia in U.S. to provide frequency regulation services to the PJM Interconnection (coordinates movement of electricity through Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia) service area.
• 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