by Global Air Conditioner Foil Market is estimated to be valued at US$ 5.72 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The global air conditioner foil market comprises aluminum foil used in air conditioners for heat exchange purposes. Air conditioner foil provides effective heat transfer and corrosion resistance properties that helps in improving the efficiency of air conditioners.
Market key trends:
One of the key trends contributing to the growth of the global air conditioner foil market is rising installation of air conditioners across both residential and commercial sectors. Rapid urbanization along with increasing disposable income in developing regions such as Asia Pacific and Latin America has fostered the demand for air conditioners. Moreover, high temperatures in the Middle East and Africa has propelled the sales of air conditioners over the years. Between 2023-2030, air conditioners segment is projected to dominate the global air conditioner foil market and exhibit a CAGR of over 11% over the forecast period.
Segment Analysis
The global air conditioner foil market is segmented by type, material, end use, and geography. Based on type, the market is divided into plain, print, and others. The plain segment held the largest share in 2023 and is expected to continue its dominance during the forecast period owing to its low price as compared to print foil and easy availability. Based on material, the market is bifurcated into aluminum and others. Aluminum segment accounts for the major share as aluminum has properties like lightweight, ductility, corrosion resistance, and durability which make it suitable for air conditioner foils. Based on end use, the market is classified into residential, commercial, and industrial. Residential segment dominates the market due to growing construction activities and rising installation of air conditioners in residential buildings worldwide.
Key Takeaways
Global Air Conditioner Foil Market Demand was valued at US$ 5.72 billion in 2023 and is expected to reach US$ 11.95 billion by 2030, exhibiting a CAGR of 10% over the forecast period. The market is witnessing robust growth owing to increasing installation of air conditioners in residential and commercial buildings across the globe due to rising income levels and changing lifestyle.
Regionally, Asia Pacific accounted for the largest share in the global market in 2023. Rapid urbanization, economic growth, and rising construction activities especially in developing countries such as China and India are driving the demand for air conditioners and subsequently air conditioner foil in the region. North America is expected to emerge as the fastest growing regional market between 2023 – 2030 attributed to rising renovation and remodeling activities along with rebates and tax credits for installing energy efficient air conditioners.
Key players operating in the air conditioner foil market are Henkel, KM Packaging, Bilcare Solutions, Flexifoil Packaging, Alfipa, Hydro, Symetal, Zenith Aluminium Pvt Ltd, OBEIKAN, UACJ Corporation, Norsk Hydro, JW Aluminum, Constellium, Aleris, Hulamin, Elvalhalcor, Gulf Extrusions, Alcoa. Among them, Henkel, KM Packaging, and Bilcare Solutions hold major share of the market owing to their extensive geographical presence and wide product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
