The Global Copper Foil Market is anticipated to reach USD 10.8 Bn by 2027 and mark with a growing CAGR of 11% during the forecast period.
The copper foil market is majorly growing due to the increasing demand for copper from the electric vehicle segment. Battery copper foil is a key component of an electric vehicle battery. For instance, Solus Advanced Materials manufactured a high-end, small, high-efficiency battery copper foil. This copper foil can help electric automobiles get more miles out of their batteries. From January to May 2021, numerous new projects and expansions have been reported globally. For instance, SKC is focused on expanding its production capacity for copper foil to 250,000 metric tons with a goal of becoming the world’s largest provider by 2025.
Moreover, copper foil is used in the creation of stained-glass art.in the construction industry. Copper foil is also used to repair broken windows and in the household to preserve non-food products and chemicals. Therefore, the use of copper foils in the construction industry is expected to bolster the market growth in the near future. The increase in construction activities is expected to support the market growth. For instance, the upcoming projects such as Saudi Arabia's $500bn Neom future city, is expected to support the market growth. Copper foils are used in the aerospace industry as they protect the spacecraft’s body from outside elements, including UV light and moisture, during both storage and flight, they have good electrical conductivity & high heat resistance. For instance, in 2019, NASA’s project to research at Mars consisted of helicopter, utilized copper foil.
Global Copper foil Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, Asia-Pacific dominated the regional market for the copper foil sector in 2020, owing to government initiative in household manufacturing & PCB manufacturing. Due to the government incentives provided to Printed Circuit Board (PCB’s) companies, China produces more than half of all PCBs. Moreover, China is also making similar circuit boards at a low cost in order to reach out more clients, so that they can improve their sales in PCB’s. Additionally, South Korean PCB makers have excellent manufacturing technologies for copper foils. This is anticipated to boost the copper foil market growth. For instance, Apple placed orders for PCBs with TAESUNG. TAESUNG is the primary organization in charge of producing PCBs for Apple. During the projection period, the aforementioned factors, inline with government support, are expected to increase the demand for copper foil usage in the region.
The Global Copper foil Market Segmentation:
Global Copper foil Market by Type (Revenue, USD Million, 2021-2027)
Global Copper foil Market by End-Use Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the copper foil market are: