Copper Foil: Mapping Market Dynamics, Consumer Trends, and Sustainable Practices

The global copper foil market size is anticipated to reach USD 22.00 billion by 2030 and is anticipated to expand at a CAGR of 11.9% during the forecast period, according to a new report by Grand View Research, Inc. Increasing adoption of renewable energy sources and electric vehicles (EVs), as a part of decarbonization efforts, is projected to fuel the growth of global market for copper foil. Copper foil functions as the electrical conductor of printed circuit board (PCB). Rising demand for PCBs, due to the aforementioned application of copper foil in them, is likely to play a crucial role in influencing demand for copper foil. PCBs are essential building blocks in electronics manufacturing. As electronic devices become more complex and intelligent, there is an ever-growing demand for PCBs. As a result, rising demand for smart devices is likely to propel growth of the industry.

Copper Foil Market Report Highlights

• Based on product, rolled foil held a maximum revenue share of over 55.0% in 2023 and is expected to grow at a significant CAGR over the forecast period due to its high consumption in batteries, solar panels, and IoT-enabled services, among others
• Based on application, batteries segment is expected to grow at a lucrative pace over the forecast period owing to the growing EV industry
• In solar & alternative energy, tin-plated copper foils in combination with acrylic-based pressure-sensitive adhesive tapes, are used in thin-film solar applications. These are solderable, and their usage provides stable electrical performance and is also easy to work with during the solar panel production process
• Asia Pacific dominated the market owing to several countries in region focusing on reducing their carbon emissions by shifting their attention toward the adoption of renewable energy. For instance, according to the International Trade Administration, Taiwan plans to cater to 20% of its energy requirements from renewable sources by 2025. It is expected to harness 20 GW of solar energy by 2025
• In January 2024, Hungary-based Volta Energy Solutions announced its geographic expansion into North American market by building a new battery copper foils plant in Quebec, Canada to cater to a fast-growing EV segment. It is a developer of world's first electrodeposited copper foils for batteries

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Use of copper results in reduced carbon emissions and cuts down amount of energy required to generate electricity. There is six times more copper in renewable energy systems than in traditional systems. Hence, growing adoption and transition towards green energy in infrastructure development, such as electric vehicles (EVs) and electricity generation is anticipated to benefit market growth. According to the IEA, the global sales of EVs reached 10.3 million units in 2022 compared to 6.7 million units in 2021 and 3.2 million units in 2020. Global sales are expected to have touched 14.1 million units in 2023; however, actual statistics are yet to be published.

Copper is a commodity that has historically witnessed high price volatility during the historic period of 2018-2022. Fluctuations in prices of copper cathode are expected to have a bearing on the profitability of the producer. Further, hikes in energy prices, supply constraints, and high demand from end-use industries are expected to put pricing pressure on the global market and affect smelter profitability and revenue performances of foil producers over the forecast period. Hence, price volatility of copper is expected to be a significant restraint to the revenue performance of the market.

The market is very competitive, with a strong presence of several large-sized players, such as Nippon Denkai, Ltd., SKC, and Lotte Energy Materials Corporation. Due to growth of end-use applications, players have been investing in increasing their capacities through greenfield projects. For instance, in August 2023, Lotte Energy Materials Corporation announced that it would build a new foil plant in Spain and would be operational in 2025.

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We have segmented the global copper foil market based on product, application, and region.

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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