Press release
Copper Foil Market is projected to reach $21.8 billion by 2027, growing at a CAGR of 7.2% from 2020 to 2027
According to a new report published by Report Ocean, titled," Copper Foil Market by Type and End User: Opportunity Analysis and Industry Forecast, 2020-2027,"" the global copper foil market was valued at $12.4 billion in 2019, and is projected to reach $21.8 billion by 2027, growing at a CAGR of 7.2% from 2020 to 2027.GET SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1419
Copper foil is a major starting material in the electronics industry. It is formed into thin sheets at a range of few microns, due to its high malleability and ductility. Majorly two methods are used for producing copper foil, which include rolling and electrodeposition. Both lead to differences in the electrical and mechanical properties. Copper foil has found its applications in printed board circuits (PCBs), battery material, and electromagnetic shielding, due to its high conductivity.
A major chunk of the copper foil produced is presently utilized in the production of PCBs, which are considered as the backbone of modern electronic devices and equipment. In the consumer electronics sector, rise in sale of smartphones and flexible electronics devices is conducive for the copper foil market. The demand for new smartphones is expected to slow down as a result of the COVID-19 pandemic, however, the demand is expected to rebound in the long run. According to a Swedish multinational telecommunications company, Ericsson, a total of around 410 million additional smartphone users are expected in India alone by 2025. The global electric vehicles (EVs) market has gained rapid momentum in the recent years, and the growth is expected to increase in the future. The market for EVs is rapidly changing as leading manufacturers debut new products, battery prices drop, and government incentives to increase the sale of EVs continue around the world. However, factors such as availability of aluminum foil as substitute to copper foil and the shortage in copper production & supply are expected to hamper the global copper foil market during the forecast period. Copper is sourced majorly from Chile, Peru, China, Australia, and the U.S. Supply disruptions in any of the region due to political instability or any other factor will tend to increase the price of copper, thus increasing the price of copper foils. However, as copper foil is a key element in electronics and e-mobility, the demand from both of these sectors is pivotal for the copper foil market growth. Furthermore, players operating in the copper foil market need to develop new copper foil products to increase their competitive advantage. Copper foil is produced for specific applications, for instance, producers have differentiated battery-grade copper foil from PCB-grade copper foil. Improving the surface properties of the copper foil to enhance its efficiency in the target application such as batteries or PCBs and achieving smaller thickness and weight drive the growth of the copper foil market. Targray, a major North American supplier of copper, developed exceptionally thin (5μm) battery-grade copper foil for use in consumer electronics and drones. As the battery energy density increases, the amount of copper foil used will increase. However, it will increase the weight of the battery pack which is undesirable. Hence, producing thinner foils is essential to lighten the pack.
The global copper foil market is segmented into product type, application, and end-user industry. Depending on product type, the global copper foil market is categorized into rolled copper foil and electrodeposited copper foil. The rolled copper foil segment accounted for the largest market share in 2019, and is expected to grow at the highest CAGR of 6.8% during the forecast period. This is attributed to the fact that rolled copper foil is being abundantly used in PCBs for consumer electronics and battery materials. Applications of copper foil include printed circuit boards, batteries, and electromagnetic shielding. The printed circuit boards (PCBs) segment accounted for the largest market share in 2019. However, the batteries segment is the anticipated to grow at a CAGR of 9.0%. This is attributed to rise in demand for electric vehicles, which, in turn, is likely to boost the need for thinner battery materials. The end-user industry of copper foils include electrical & electronics, automotive, industrial equipment, building & construction, and others. The electrical & electronics segment accounted for the largest market share in 2019, and is estimated to grow at the highest CAGR of 8.7%. The segment growth is driven by surge in demand for consumer electronics, primarily smartphones, wearable electronics, and computers. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Europe and Asia-Pacific.
The major companies profiled in this report include Carl Schlenk AG, Doosan Group, Furukawa Electric Co. Ltd., JXTG Holdings Inc., Mitsui Mining & Smelting Co. Ltd., Rogers Corporation, SKC, Sumitomo Metal Mining Co. Ltd., Targray Technology International Inc., and UACJ Corporation. These players have majorly adopted business expansion as the key developmental strategy. It includes increasing production capacity by adding more equipment, rolling mills, and surface roughening treatment lines. For instance, SKC and JXTG Holdings announced plant expansions in early 2020 to meet the growing demand for copper foil.
Key findings of the study
The Asia-Pacific copper foil market is projected to grow at the highest CAGR of nearly 7.7%, in terms of revenue, during the forecast period.
By product type, rolled copper foil accounted for the largest market share in 2019
By application, the printed circuit boards segment accounted for the largest market share in 2019.
On the basis of end-user industry, the electrical & electronics segment garnered the largest market share in 2019.
Impact Of Covid-19 On The Global Copper Foil Market
The COVID-19 pandemic has negatively affected the global economy and subsequent shrinking of the GDP in global economies, thereby changing consumer spending patterns globally.
The pandemic has disrupted the copper mining industry as a result of shortage of workforce. Production has been hit hard as coronavirus cases continue to rise among mine workers in Chile. The country is the world’s largest exporter of the metals, which are essential in almost all electronic products and manufacturing.
The global sale of electric vehicles is projected to fall, thus interrupting 10 successive years of strong growth. In addition, due to the lockdown and travel restrictions, the crude oil prices dropped significantly. Low oil prices reduced the economic viability of the EV adoption as compared to combustion vehicles.
Similar to EVs, the consumer electronics demand witnessed a decline as consumers spending pattern changed drastically.
Global sales of smartphones declined in the early 2020 as a result of plant closures in China. China is a global leader in smartphone production and the first country to be affected by the pandemic. Hence, post the lockdown in China, the supply of smartphones declined.
However, the demand for PCs and smartphones spiked during the fourth quarter. The demand for PCs was due to increase in remote learning and home office.
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