In addition, stainless steel foil are also less expensive as compared to other metal packaging applications. One of the crucial factors that increases the preference towards stainless steel foil is the extended shelf life provided by the products. A large number of end use industry face problems related to damage, decay, spoilage, etc. due to exposure to humidity and air, which have resulted in the need for packaging solution like stainless steel foil.
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Excellent vapor barrier protection with water proof sealing provided by stainless steel foil makes it possible for retailers and vendors to increase shipment distance of packaged goods. Stainless steel foil provides better high strength to weight ratio as well as resistance towards oxidation at high temperature. 304 grade stainless steel foil is the most commonly used owing to less amount of carbon content which eliminates the chances of corrosion.
The stainless steel foil market is expected to grow significantly owing to upsurge demand for lightweight and tough metal packaging solution across the globe. Stainless steel foils can be easily converted to alloys which are used in dairy, food, & pharmaceutical industry. Nevertheless the material is very strong, stainless steel foil can be trimmed, perforated or pressed in order to provide better fit for desired applications. In addition, stainless steel foil can easily mix with additives like chromium, nickel, etc. which increases its strength and durability of the product. Furthermore, stainless steel foil can withstand high temperature with ultra-high vacuum (UHV) compatibility as compared to aluminum foil.
The global stainless steel foil market is segmented by grade type, product type, material type, application, and end use. The pricing for stainless steel foil has being done based on grade type segment in US$ million, and the volume is considered in number of tonnes.
Preview Analysis of Stainless Steel Foil Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment; 2018 – 2028: https://www.futuremarketinsights.com/reports/stainless-steel-foil-market
U.S. stainless steel foil market in North America region is expected to dominate the market owing to extensive usage of stainless steel foil for automotive and aerospace industry. India and China are expected to witness substantial growth for Asia Pacific stainless steel foil market. However, the Middle East & Africa stainless steel foil market is anticipated to witness sluggish growth during the forecast period.
Some of the local and unorganized players are also expected to contribute to the stainless steel foil market during the forecast period.
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