The volume of imported backed aluminium foil to China has shown an overall upward trend over the past decade, starting from 16.22 million kilograms in 2013 to 31.862 million kilograms in 2023. During this period, the year-on-year variation has fluctuated, achieving its peak growth of 13.24% in 2018. Most recently, the changes from 2022 to 2023 have been more moderate at 3.53%. The compound annual growth rate (CAGR) has seen a declining trend, reducing from double digits in earlier years to 3.3% in 2023.
For the forecast from 2024 to 2028, we expect a more subdued growth pattern with a CAGR of 2.57%, culminating in an import volume of 37.575 million kilograms by 2028, representing an overall growth rate of 13.53% over the five-year period. This suggests a deceleration in the pace of increase compared to previous years, reflecting a maturation of the market.
Future trends to watch for include potential impacts from global trade policies, technological advancements in aluminium foil manufacturing, and shifts in China's domestic production capabilities which could affect import volume needs. Environmental regulations and the increased focus on sustainability may also play a significant role in shaping import dynamics.
