Copper Foil Market to Garner $21.8 Billion, Globally, By 2027 at 7.2% CAGR, Says Allied Market Research
PORTLAND, Ore., Feb. 9, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Copper Foil Market by Product Type (Rolled Copper Foil and Electrodeposited Copper Foil), Application (Printed Circuit Boards, Batteries, Electromagnetic Shielding, and Others), and End-user Industry (Electrical & Electronics, Automotive, Industrial Equipment, Building & Construction, and Others): Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global copper foil industry generated $12.4 billion in 2019, and is estimated to generate $21.8 billion by 2027, manifesting a CAGR of 7.2% from 2020 to 2027.
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Drivers, restraints, and opportunities
Expansion of the electronics industry, increase in sales of smartphones, and surge in adoption of e-mobility drive the growth of the global copper foil market. However, presence of alternative metal foils hinders the market growth. On the other hand, development of innovative copper foil products presents new opportunities in the coming years.
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Covid-19 Scenario
-- The lockdown disrupted copper mining, creating a shortage of raw
material for the manufacturing of copper foils.
-- Chile is the world's largest exporter of metals. The surge in the number
of coronavirus cases among mine workers in the country increased. This
hindered production and export activity.
-- Owing to the lockdown and travel restrictions, the prices of crude oil
lessened considerably. In addition, the demand for consumer electronics
decreased significantly.
-- Post-pandemic, when the demand for smartphones, electronic gadgets, and
electric vehicles would increase, the demand for copper foil is
estimated to rise too.
The rolled copper foil segment to maintain its leadership position throughout the forecast period
Based on type, the rolled copper foil segment accounted for the highest market share, accounting for less than two-thirds of the global copper foil market in 2019, and will maintain its leadership position throughout the forecast period. This is due to its abundant usage in PCBs, batteries, and EMI shielding materials. However, the electrodeposited copper foil segment is expected to manifest the fastest CAGR of 8.0% from 2020 to 2027, owing to surge in demand in PCB manufacturing.
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The printed circuit boards segment to maintain its dominant share during the forecast period
Based on application, the printed circuit boards segment held the highest market share in 2019, accounting for less than two-thirds of the global copper foil market, and is estimated to maintain its dominant share during the forecast period. This is attributed to PCBs being the backbone of electronic components, and integrated with almost every electronics product. However, the batteries segment is estimated to portray the largest CAGR of 9.0% from 2020 to 2027, owing to the growth in need for electric vehicles in the next few years.
Asia-Pacific, followed by North America, to maintain its leadership status by 2027
Based on region, Asia-Pacific, followed by North America, accounted for the highest share in 2019, contributing to nearly half of the global copper foil market, and will maintain its leadership status by 2027. This region is projected to witness the highest CAGR of 7.7% during the forecast period. This is due to presence of well-established electronics & electric vehicle market players. The report also analyzes regions including Europe and LAMEA.
Leading market players
-- Carl Schlenk AG
-- Doosan Group
-- Furukawa Electric Co. Ltd.
-- JXTG Holdings Inc.
-- Mitsui Mining & Smelting Co. Ltd.
-- Rogers Corporation
-- SKC
-- Sumitomo Metal Mining Co. Ltd.
-- Targray Technology International Inc.
-- UACJ Corporation
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