Copper Foil Market Trends, Demand, Growth, Opportunities and Key Manufacturers F
Posted by Rishab Gupta on December 23rd, 2019
Copper Foil Market Research Report: by Type (Electrodeposited Copper Foil, Rolled Copper Foil), by Application (Electrical & Electronics, Automotive,
Copper Foil Market Size is estimated to reach USD 17,321.8 million by 2023, asserts Market Research Future (MRFR). The market can achieve this benchmark by exhibiting 10.31% CAGR from 2018 to 2023 (forecast period).
Major producers in the copper foil market are Carl Schlenk AG (Germany), Krishna Copper Private Limited (India), Global Brass and Copper Holdings Ltd. (U.S.), JX Nippon Mining & Metals Corporation (Japan), Amari Copper Alloy Ltd. (U.K.), Civen Metal Material Co., Ltd. (China), Lamineries Matthey (Switzerland), Mitsui Mining & Smelting Co., Ltd. (Japan), Arcotech Ltd. (India), Rogers Corporation (U.S.), and Circuit Foil Luxembourg (Luxembourg).
The inclination towards green energy owing to the sharp rise in crude oil prices has led to consumers shifting their attention to alternative sources such as electric. Interest in electromobility among consumers has spiked the demand for electric vehicles. Elevated sales of EVs are expected to drive the market demand till 2023. Adoption of hybrid vehicles and EVs by consumers in Europe and North America is likely to spike the demand for copper foils. In addition, need for foils in the production of printed circuit boards (PCBs) and lithium-ion batteries is certain to open up new avenues for the market.
Investments and collaborations are on the rise by EV manufacturers. They are increasingly investing in regions of interest to reduce the dependence on imports and minimize production costs. This is exemplified by the collaboration between BMW and Northvolt AB to build an EV battery plant in 2018. The burgeoning automotive sector is likely to trigger immense demand from the copper foil market till 2023. This can be attributed to high sales of cars coupled with the need for foils in manufacturing automotive components.
Thin copper foils have gained prominence owing to their lightweight nature and high performance in end-use industries. This in tune with the shift to better production processes in tune with environmental regulations.
The Copper Foil Market is segmented by type and application.
By type, electrodeposited foils can touch a value of USD 11,158 million by 2023. The demand for these foils in printed circuit boards (PCBs) and rigid circuits can facilitate segment growth throughout the forecast period. The use of PCBs in the consumer electronics sector is predicted to drive the demand in the segment. Rolled copper foils, on the other hand, is expected to generate USD 6,163.8 million by 2023, growing at 8.50% CAGR during the assessment period.
By application, the electrical & electronics segment is touted to reach a value of USD 7,650.1 million by 2023. This can be attributed to the demand for PCBs and lithium-ion batteries in consumer electronic products. Sales of smartphones is likely to bolster the segment demand till the end of the forecast period. The automotive segment, on the other hand, can reach USD 5,457.6 million by 2023. Sales of electric and hybrid vehicles is projected to drive segment growth.
Region-wise, the copper foil market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). APAC accounted for 53.3% market share in 2017, followed by 18.2% share by Europe, and 16.7% share by North America.
The APAC region is predicted to generate close to USD 9,648.7 million by 2023. Rapid urbanization and increased demand for electronic products is expected to boost market sales in the region. In addition, the shift to domestic production of these items in countries such as China, Indonesia, and India can augur well for the copper foil market till 2023. Miniaturization of components and focus of manufacturers to expedite the production process via the manufacture of thin coils can facilitate regional growth.
The Latin America market can exhibit 9.23% CAGR during the forecast period owing to rapid industrialization and demand for electric vehicles.
At MRFR, research analysts rely on a combination of primary and secondary research methods to create infallible market reports. Primary research entails interviews with top decision makers in prominent companies to gain keen insights. Secondary research encompasses verifying the authenticity of trends and opportunities through credible sources such as newspapers, white papers, SEC filings, annual reports, and others. The market size is estimated via thorough top-down and bottom-up approaches coupled with a microscopic view on the strategies of competitive players
Full Report Summary is Available @ https://www.marketresearchfuture.com/reports/copper-foil-market-7381
Like it? Share it!
About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
More by this author