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Copper Foil Market Report 2024 - Copper Foil Market Demand, Segments, And Forecast
Copper Foil Market
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According to The Business Research Company's, The copper foil market size has grown rapidly in recent years. It will grow from $11.75 billion in 2023 to $13.08 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to electronics industry growth, miniaturization of electronic devices, lithium-ion battery demand, pcb manufacturing, and renewable energy expansion.
The copper foil market size is expected to see rapid growth in the next few years. It will grow to $19.72 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to urbanization and infrastructure, aerospace and defense needs, automotive electrification, environmental regulations, and emerging market expansion. Major trends in the forecast period include introduction of green energy solutions, 5g network deployment, technological innovations, innovative flexible electronics and displays, and strategic partnerships.
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Market Drivers and Trends:
Increasing demand for electric vehicles is expected to propel the growth of the copper foil market going forward. Electric vehicles refer to vehicles that work on electricity stored in their batteries. Copper foil is used in the production of electric batteries, electric motors, and electric car wiring to provide an electric current to the vehicles. For instance, in 2021, according to the Society of Manufacturers of Electric Vehicles (SMEV), an India-based electric vehicle association, there is a growth of 132% in the sales of electric two-wheelers in India. In addition, electric vehicle unit sales of two-wheelers reached 10.7 lakh units in 2020, which has increased to 2.33 lakh units in 2021. Therefore, the rise in demand for electric vehicles is driving the demand for the copper foil market growth.
Product innovations have emerged as a key trend gaining popularity in the copper foil market. Major companies operating in the copper foil sector are focused on introducing new products to sustain their position in the market. For instance, in January 2021, Infinite Flex, a Germany-based company that develops and manufactures copper foils and copper powder, launched Infinite Powder Cu 01, a pure copper powder that is manufactured by using bound metal filament extrusion technology. This helps in the manufacture of highly conductive copper components with the unique standard SLM systems.
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Major Key Players of the Market:
LS Mtron Co. Ltd., Chang Chun Group, Furukawa Electric Co. Ltd., ILJIN Materials Co. Ltd., JX Nippon Mining & Metals Corporation, Carl Schlenk AG, Mitsui Mining & Smelting Co. Ltd., Nippon Denkai Ltd., UACJ Corporation, Rogers Corporation, Sumitomo Metal Mining Co. Ltd., Circuit Foil SA, Shandong Jinbao Electronics Co. Ltd., Wieland Metals India Pvt. Ltd., Nan Ya Plastics Corporation., Doosan Corporation, Eneos Holdings Inc., SKC Inc., NUODE New Materials Co. Ltd., Lingbao Wason Copper Foil Co. Ltd., Guangdong Jia Yuan Technology Shares Co. Ltd., Jiujiang Defu Technology Co. Ltd., Jiangxi Copper Corporation, Fujian Clear View Copper Foils Co. Ltd., Kingboard Copper Foil Holdings Limited, Targray Technology International Inc., ANSIO Ltd., Solus Advanced Materials, SH Copper Products Co. Ltd., United Copper Foil (Huizhou) Co. Ltd., Civen Metal Material Co. Ltd.
Copper Foil Market 2024 Key Insights:
• The copper foil market size is expected to see rapid growth in the next few years. It will grow to $19.72 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Surging Electric Vehicle Sales Boosted Copper Foil Market
• Innovations Drive Copper Foil Market Growth
• North America was the largest region in the copper foil market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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