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.
A copper strip is a thin, flat piece of copper that is commonly used in electrical and electronics applications for its conductivity and durability.
One of the primary uses of copper foil is in electronics, where it is used as a conductor in printed circuit boards, electromagnetic shielding, and other electrical applications. Copper foil’s high electrical conductivity, excellent thermal conductivity, and corrosion resistance make it an ideal choice for these applications.
In the construction industry, copper foil is used for roofing and flashing, where its durability and resistance to weathering and corrosion make it an excellent choice. Copper foil is also used in decorative applications, such as in stained glass work and other artistic endeavors.
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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.
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.
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Copper Foil Market: Segmentation
By Grade
- ETP
- DHP
By Application
- Printed Circuit Boards
- Heat Exchangers
- Batteries
- Busbars & Switchgears
- Radiators
- Electrical Equipment (Transformers, and Cables)
- Others
By Region
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
About Future Market Insights (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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