The global copper foil market size is projected to reach USD 10,375.6 million by 2028, exhibiting a CAGR of 7.9% during the forecast period. According to a recent report by Fortune Business Insights™, titled “Copper Foil Market, 2021-2028”, the value of the market stood at USD 5,703.0 million in 2020.
Increasing Smartphone Adoption to Favor Market Growth
Economic growth and development in several countries can be seen in the soaring demand for electronic products, especially smartphones, over the last decade. A 2019 survey by Pew Research Center revealed that over 5 billion people around the globe own mobile devices and more than 50% of these are smartphones. Further, a GSMA report cited by the World Economic Forum in 2019 predicts that by 2025 global smartphone ownership will rise to 79% from the current 60%.
Growing smartphone production will hugely benefit this market because the copper foil is an essential component in any electrical device. It is primarily used in circuit boards, which are installed in all kinds of electrical devices, to send and receive electrical signals. Expanding smartphone ownership will, thus, bolster the prospects of this market.
List of the Leading Companies Profiled in the Global Copper Foil Market are:
- ILJIN Materials Co., Ltd. (South Korea)
- Doosan Group (South Korea)
- Tex Technology Inc. (Japan)
- Mitsui Mining & Smelting Co., Ltd. (Japan)
- RCI Industries and Technologies Ltd. (India)
- Furukawa Electric Co., Ltd. (Japan)
- Shanghai Metal Corporation (China)
- SKC (South Korea)
- American Elements (U.S.)
- UACJ Foil Corporation (Japan)
Highlights of the Report
The report presents an exhaustive analysis of the market drivers, trends, and constraints, along with a comprehensive examination of the regional prospects and upcoming investment pockets for the market. In addition to this, the report offers detailed profiling and study of key market players and their strategies, as well as provides a granular evaluation of all market segments.
Major Driving Factor
Germ-fighting Capacity of Copper to Boost the Market amid COVID-19
The COVID-19 pandemic has created widespread disruptions in the global supply chains of raw materials, including metals and minerals, such as copper, silver, and gold. However, the copper foil market growth is unlikely to get hit by the pandemic in any major way because copper is known to possess excellent pathogen-fighting properties, which will prove beneficial in battling the coronavirus. For example, according to a microbiologist at Durham University, UK, copper releases reactive ions when it comes in contact with a germ, destroying its exterior and impacting its genetic structure.
Another researcher at the University of Arizona states that copper can displace metal ions found in the proteins of most pathogens and destroy or inhibit their production. These capabilities of copper have surged the demand for copper foil sheets and other coverings in the healthcare industry to fight COVID and contain its spread in medical facilities.
Top Regional Insights
Strong Manufacturing Infrastructure in China to Brighten the Asia Pacific Market Outlook
Asia Pacific is expected to dominate the copper foil market share during the forecast period, supported by the strong and growing manufacturing infrastructure and technologies of China in the electronics domain. Moreover, increasing smartphone penetration in India and the widespread deployment of electric vehicles (EVs) in China will also produce highly lucrative opportunities for market players. In 2019, the region’s market size stood at USD 3,622.1 million.
In North America, favorable policies and active private sector initiatives to expand and strengthen charging infrastructure are anticipated to skyrocket the demand for copper foil. On the other hand, the market in Europe will be driven by the rapid advancements in energy storage technologies, where copper plays a critical role.
Key Market Segments
Based on application, the market has been segmented into circuit boards, batteries, electromagnetic shielding, and others. In 2020, the electromagnetic shielding segment held a share of 9.7% in the global market and a share of 7.3% in the China market.
On the basis of geography, the market has been grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Competitive Landscape
Expansion of Geographic Presence to be the Dominant Strategy for Key Players
The Asia Pacific region is home to a large number of electrical component manufacturing companies and these organizations are currently shaping the competitive dynamics of this market. To bolster their presence in the international arena, these players are aggressively establishing operations across geographies, especially in Europe and North America, where economic systems are highly digitized.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Market Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc. .
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID 19 on Global Copper Foil Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Copper Foil Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Application
- Circuit Boards
- Batteries
- Electromagnetic Shielding
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Application
TOC Continued…!
Key Industry Developments:
- November 2020: Doosan Solus announced the commencement of production of battery copper foil at its plant in Hungary, constructed in 2019. The company aims at expanding the plant’s current capacity of 10,000 tons to 75,000 tons to meet the surging demand in Europe.
- June 2019: Mitsui Mining & Smelting successfully increased the production capacity of its plant in Taiwan, where the company will be producing its flagship VSP® copper foil for high-frequency circuit boards.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/copper-foil-market-104925
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