A new study by ESOMAR-certified market research firm Future Market Insights (FMI) reveals that global copper foil sales will grow at 7.4% CAGR through 2030. Growing application in e-mobility will be one of the key factors driving the growth of copper foils globally.
Even though all of the disruptions were caused by the COVID-19 pandemic situation, the copper foil market managed to generate revenues from worldwide sales of over US$ 6.7 Billion. The growing consumer electronics industry is majorly responsible for the overall revenue generated by the market.
The Asia-Pacific is continuing its dominance over the copper foil market and holds the major portion of the value generated by it. All leading manufacturers of copper foils have focused their attention on innovations to stay in the global competitive landscape.
Significance Of The Copper Foil Market In The Consumer Electronics Industry
For the next decade and more, the application of copper foils will be critical in the PCB (printed circuit boards) industry. The electrodeposited copper foils are excellent substrates because of their low rate of surface oxygen and hence these are extensively used as a base layer for PCBs. These electronic grade copper foils are extensively used in modern calculators, smart televisions, automotive electronics, and QA equipment.
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Other key highlights of FMI’s study include,
Application of copper foils in batteries to rise rapidly through 2030
Accelerated shift towards e-mobility to offer potential opportunities of growth in near future
North America and Europe to reflect significant investment prospects, given flourishing EV market
Recent studies on electromobility (e-mobility) reveal that copper is poised to play instrumental role in three key domains – charging infrastructure, energy storage, and production of electric vehicles (EV).
Electrification is considered as the most feasible way to achieve efficient and clean transportation that is critical to sustainable development worldwide. In the near future, EVs including, plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and pure battery electric vehicles (BEVs) are expected to lead the clean vehicle industry in coming years.
EVs contains copper nearly four times compared to that in fossil-fueled models, majorly utilized in lithium-ion batteries (LIB), rotors, and wiring. In addition, the International Energy Agency (IEA) estimates that LIBs are slated to predominate the EV market over following decade.
As such trends sweep across the business landscape, manufacturers of copper foils are moving aggressively and creating comprehensive strategies to maximize their odds of capturing value at stake.
“Batteries hold immense potential to significantly decarbonize transport and power systems. Deployment of EVs is seeing greater pace in several countries, especially in the US, China, and European countries. Recent data suggest that worldwide sales of EVs is expected to touch 6.2 million units by 2024 – nearly thrice greater than the volume sales in 2019,” says analyst at FMI.
Copper Foil Sales Stay Afloat as EV Industry Defies COVID-19 Threat
From European manufacturers – BMW and Renault – to their Asian counterparts –Toyota and Hyundai – as well as US companies including, General Motors, have registered and are anticipating staggering sales and interest in EVs and relevant ‘new energy’ automobiles amidst the COVID-19 crisis.
In addition, FMI finds that about 2/3 of vehicles worldwide are poised to be electric by 2040. EVs are weathering the COVID19 storm better versus conventional internal combustion (IC) engine vehicles. Consequently, LIB demand stands to benefit, and copper foils – as key component part of these batteries – will remain high in demand in coming years.
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What Are The Reasons For The Growth Of The Copper Foil Market?
With the exponential growth of the consumer electronics industries all around the world, the demand for copper foils has seen an equal rise in demand. According to various market research, the consumer electronics industry has already reached a trillion-dollar value in 2019, and now it has been impacting the copper foils market significantly.
We all agree that consumer electronics have become an essential part of our daily lives, especially in this fast-evolving world. The onset of the latest innovations such as AI chips and 3D sensors have contributed a lot towards integrated augmented reality (AR) technologies.
Now you can find such integrated experiences through your smartphone, smart TV, or smart wearable devices. Given the fast-paced lifestyle that everyone is living today, the need for comfort, and ease have been the top priorities among the consumers. And all these smart devices give the consumers what they wish for.
Hence, copper foils have become an indisputable resource in the success of this industry. Every trend developing in the industry is backed up by the copper foil market for over a decade now. And for the coming years too, the copper foil market is going to be an important element.
Copper Foil Market – Competitive Intelligence
The global copper foil is fairly competitive, with presence of several regional and international players striving to achieve economies of scale. As the market is set for supply headwinds due to notable rise on-road EVs in coming years, market players are honing in on capacity expansions and strategic acquisitions and investments.
KCF Technologies (KCFT) has started off large-scale production of 4-micrometer (μm) copper foils for EV batteries.
SK Holdings Co. is looking to allocate additional investments in Lingbao Wason Copper Foil Co. – leading Chinese copper foil manufacturer – in order to ensure security in primary materials required for rechargeable batteries.
In addition, the company has acquired 100% shares of KCF Technologies Co., which is the global leading producer of copper foil for LIBs, in a bid to diversify its product portfolio.
To Know More About Copper Foil Market:
A new market research report published by Future Market Insights (FMI) on the global copper foil market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the copper foil market through four different segments – grade, application, thickness and region. The copper foil market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of copper foils and product adoption across several end-use industries
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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