Global Copper Foil Market Set For 10.8% Growth, Reaching $19.72 Billion By 2028
Copper Foil Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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How Has the Copper Foil Market Evolved And What Is Its Growth Projection For 2024?
The copper foil market size has seen a rapid growth in recent years, growing from $11.75 billion in 2023 to $13.08 billion in 2024 at an impressive compound annual growth rate CAGR of 11.3%. The growth observed in the historic period is largely driven by the expansion of the electronics industry, miniaturization of electronic devices, surging demand for lithium-ion batteries, widespread PCB manufacturing, and the development of renewable energy sources.
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What Will Drive The Copper Foil Market Growth Forward?
Emerging trends and developments are set to propel the copper foil market further. The market size is projected to see considerable growth in the next few years, expanding to $19.72 billion in 2028 at a compound annual growth rate CAGR of 10.8%. Urbanization and infrastructure development, aerospace and defense requirements, automotive electrification, environmental regulations, and expanded markets are expected to fuel the growth in the forecast period. In addition, the introduction of green energy solutions, 5g network deployment, technological innovations, innovative flexible electronics and displays, and strategic partnerships all play significant roles.
One major growth driver for the copper foil market is the rising demand for electric vehicles. These vehicles run on electricity stored in their batteries, which often require the use of copper foil for the production of electric batteries, electric motors, and electric car wiring. As per data from the Society of Manufacturers of Electric Vehicles SMEV, an India-based electric vehicle association, there was a 132% growth in the sales of electric two-wheelers in India in 2021. Therefore, the surge in demand for electric vehicles is contributing to the demand for copper foil.
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Who Are The Key Players In The Copper Foil Market And What Innovations Are They Bringing?
The copper foil market boasts leading companies such as 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., and others. These players bring several product innovations to the market to maintain their competitive advantage. For example, in January 2021, Infinite Flex, a company that manufactures copper foils, launched Infinite Powder Cu 01, a pure copper powder produced using bound metal filament extrusion technology for manufacturing highly conductive copper components with standard SLM systems.
What Are The Main Segments Of The Copper Foil Market?
The copper foil market can be segmented based on the following:
1 By Product Type: Rolled Copper Foil, Electrodeposited Copper Foil
2 By Grade: Electrolytic Tough Pitch Copper ETP, Deoxidized High Phosphorus Copper DHP
3 By Application: Printed Circuit Boards, Batteries, Electromagnetic Shielding, Other Applications
4 By End-User: Electrical and Electronics, Automotive, Industrial Equipment, Building and Construction, Other End-Users
How is the Growth of the Copper Foil Market Spread Around the Globe?
On the regional front, North America held the top spot as the largest market for copper foil in 2023. However, in the coming forecast period, Asia-Pacific is touted to be the fastest-growing region. The copper foil market report covers several regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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