ID: MRFR/CnM/5912-CR | February 2019 | Region: Global | 113 pages
Copper Foil Market is set to handle a valuation rise to USD 17,321.8 Million by 2023 while increasing at 10.31% CAGR in the forecast period as per the copper market analysis made by Market Research Future. Copper foils are sheets of copper that are made by the processes of electrolysis, hammering, and rolling. They are obtainable in diverse components of thickness depending on their function. Copper foils are also endorsed due to their thermal & electrical conductivity and corrosion resistance.
The COVID-19 has taken its charge on copper concentrate consignments to several APAC regions, especially to China this year. There are also instances of disruption in the scrap supply chain. This development has resulted in decreased scrap imports in several countries. Though cathode imports had recorded a surge in mid-year, relying on arbitrage prospects. The revision in scrap-related policy changes has restructured the landscape for copper scrap imports that have persisted in their fall in terms of gross volume. As superior scrap is favored, the general volume of copper controlled in the scrap has been relatively stable over the past two years. China's copper demand and primary sources are estimated to exert an encouraging development in the global copper foil market progress.
Rising Demand For EVs
The increased development in the electrical & electronics sector and subsequent demand for electric vehicles (EV) due to speedy growth in crude oil values is projected to drive the development of copper foil in the forthcoming period.
Increasing Funding And Collaborations For Ev Battery Infrastructure
The implementation of copper foils in printed circuit boards (PCBs) and lithium-ion batteries spurred by a surge in collaborations can enable this trend. The financing of EV battery infrastructure to back the automotive sector is estimated to enhance the forecast period's copper foil market share.
Surge In Demand For Copper Foils In Automotive
The automotive segment is anticipated to greatly increase the copper foil market's growth, driven by the elevated demand for board-to-board connectors, flexible printed circuit (FPC) connectors, and other components. The acute rise in automotive manufacturing is estimated to further promote copper foil demand in the coming years.
Availability Of Substitutes
The advancement of nanomaterials, which are regarded as a viable substitute for copper foils, can challenge the copper foil market growth.
Government Incentives For Asian EV Battery Manufacturers
The governments in the APAC regions are increasingly backing EV market expansion due to the alarming rise in pollution levels in this region, which is only estimated to rise in the future. Also, the need to reduce the dependency on imports and curtail production costs is estimated to unlock considerable growth options.
The electrodeposited foils are forecasted to attain a value of USD 11,158 million by 2023. The need for these foils in printed circuit boards (PCBs) and rigid circuits can simplify growth throughout the forecast period.
The electrical & electronics segment is projected to display a value of USD 7,650.1 million by 2023. The requirement for PCBs and lithium-ion batteries in consumer electronic products are estimated to guide the copper foil market in the forecast period.
APAC To Lead The Global Expansion
The APAC reported for 53.3% copper foil market share in 2017. The APAC region is considered to rule until the culmination of the forecast period owing to raised requirement for consumer electronic products. The APAC region is foreseen to produce close to USD 9,648.7 million in revenues by 2023. Speedy development and augmented need for electronic products are presumed to lift the copper foil market sales in the region. In addition, the change to local production the items in nations such as China, Indonesia, and India can bode well for the copper foil market by 2023. The reduction of components and the emphasis of manufacturers to accelerate the manufacture process via the manufacture of thin coils can facilitate the APAC regional growth.
Latin America To Emerge As A Promising Hub By 2023
The Latin American copper foil market is predicted to exhibit a 9.23% CAGR for the period of the forecast period owing to swift automation and demand for electric vehicles.
The crucial companies reported in the copper foil market report include:
Research specialists at MRFR rely on a mixture of primary and secondary research methods to create infallible market reports. The preliminary research entails interviews with top decision-makers in prominent companies to gain intense insights. The secondary research encompasses confirming trends and opportunities through trustworthy sources such as white papers, SEC filings, newspapers, annual reports, and others. The market size is appraised via detailed top-down and bottom-up methods coupled with a minute view of the approaches of competitive companies.
Frequently Asked Questions (FAQ) :
The copper foil market has the scope to surpass a mark of USD 17,321.8 million by 2023.
The copper foil market would register an impressive 10.31% CAGR during the forecast period of 2018 to 2023.
The electrodeposited foil segment would enjoy the upper hand in the copper foil market.
The electrical & electronics segment would lead to the application-based copper foil market study.
The Asia Pacific region would generate the maximum revenue for the copper foil market.
Global Copper Foil Market - Summary
Copper foils are thin sheets of copper used as a conductor in various applications. It is highly regarded owing to its impeccable properties of thermal and electrical conductivity. The global copper foil market is estimated to touch a value of USD 17,321.8 million by 2023, growing at 10.31% CAGR from 2018 to 2023 (forecast period). The use of copper in the electrical and electronics is expected to drive the market exponentially over the forecast period.
The burgeoning electric vehicle (EV) sector is expected to offer opportunities for the market to expand successfully. Rising demand for electric and hybrid vehicles is predicted to trigger the demand for copper foils. Copper foils are used as a conductor in lithium-ion batteries of EVs. Furthermore, the use of lithium batteries in laptops, smartphones, and other consumer electronic devices is projected to drive the copper foil market growth.
The uptick noticed in automotive production in recent years is likely to augur well for the copper foil market till 2023. The European region is the primary contributor owing to the presence of various automotive original equipment manufacturers (OEMs). Components requiring foils include radiators, gearboxes, and board-to-board connectors. Furthermore, investments in EV battery units in developing economies is projected to augur well for the market in the forthcoming years.
Subsidies and tax benefits given to EV battery manufacturers and automotive component manufacturers by governments is likely to lead to a flurry of investments. This is exemplified by the deal signed between Contemporary Amperex Technology Ltd and BMW in 2018 to build a battery manufacturing unit. In addition, South Korean conglomerate Doosan has decided to invest close to USD 113 million in November 2018 to build a copper foil production plant.
By type, the copper foil market is divided into two main segments, namely rolled and electrodeposited copper foils. Electrodeposited foils led the market in 2017 owing to wide range of foils available in the market. The use of these foils in the production of printed circuit boards (PCBs) and their application in semiconductor and consumer electronics industries can fuel the segment growth till 2023. Rolled copper foils can generate significant market revenue owing to their use in the manufacture of anode batteries.
By application, the copper foil market is categorized into automotive, electrical & electronics, building & construction, industrial equipment, and others. The electrical & electronics segment is projected to accrue high revenue for the market owing to the foil being used for the manufacture of electronic components. The automotive segment can exhibit a stellar growth rate during the forecast period owing to high need for electric vehicle and traditional batteries. Demand for EVs can propel the segment growth till 2023.
Geographic segmentation of the copper foil market comprises the following regions - North America, Europe, Latin America, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The APAC region is touted to generate the highest revenue for the copper foil market owing to presence of PCB manufacturers and automotive original equipment manufacturers (OEMs). The boom in China due to establishment of units by various component manufacturers is projected to spur regional market growth.
Europe has assumed the second position in the copper foil market owing to stringent regulations pertaining to emissions and inclination of consumers towards clean energy. Rise in EV production has led to considerable investments in EV battery plants which can bode well for the market growth.
The Latin America copper foil market can expect a boom owing to the resurgence of the construction and real estate sector.
Top players in the copper foil market include JX Nippon Mining & Metals Corporation (Japan), Arcotech Ltd. (India), Lamineries Matthey (Switzerland), Circuit Foil Luxembourg (Luxembourg), Mitsui Mining & Smelting Co., Ltd. (Japan), Carl Schlenk AG (Germany), Global Brass and Copper Holdings Ltd. (U.S.), Civen Metal Material Co., Ltd. (China), Rogers Corporation (U.S.), Amari Copper Alloy Ltd. (U.K.), and Krishna Copper Private Limited (India).
Global Copper Foils Market: Competitive Landscape
The prominent players in the global copper foils market are Amari Copper Alloy ltd., Global Brass and Copper Holdings, Inc., Arcotech Ltd., Civen Metal Material (Shanghai) Co., Ltd, JX Nippon Mining & Metals Corporation, Carl Schlenk AG, Lamineries Matthey, Rogers Corporation, Krishna Copper Private Limited, Mitsui Mining & Smelting Co., Ltd, and Circuit Foil Luxembourg.
Amari Copper Alloy ltd., Global Brass and Copper Holdings, Inc., JX Nippon Mining & Metals Corporation, and Mitsui Mining & Smelting Co., Ltd collectively hold the majority share of the global copper foils market. Although, there have been no recent developments in the copper foil market in the past few years, some of the key strategies followed by the players operating in the global copper foil market includes agreements and collaborations, product development, joint ventures, and expansion.
Amari Copper Alloy ltd., a part of Amari Metals Group, is one of Europe’s largest stockholders, processors, and distributors of metal with over 2000 tons of copper, brass, and bronze. It offers a wide range of products, including strips and foils, flat bar, plate & sheet, solid & hollow bar, extrusion, heat exchanger tube, and tube for various applications across different industries including electrical and electronics; aerospace and defense; and military.
Global Brass and Copper Holdings, Inc. is a leading converter, fabricator, processor, and distributor of specialized non-ferrous products, though they primarily process copper and copper-alloys. It operates through three business segments, which include Olin Brass, Chase Brass, and A.J. Oster. It manufactures copper and brass sheet, strip, foils, tube and fabricated components under Olin Brass business segment. The company serves a wide range of industries, which includes building & construction, automotive & transportation, electrical & electronics, and industrial machinery & equipment.
JX Nippon Mining & Metals Corporation operates as a subsidiary of JXTG holdings. It operates through five business segments, which include resource development, smelting & refining, technology development, recycling, and environmental services, and electronic materials. The company primarily manufactures electro-deposited copper foil and treated rolled copper foil. It emphasizes on continuous investment in R&D activities to develop advanced technology for resource development, electronic materials, and recycling and environmental services.
Mitsui Mining & Smelting Co., Ltd (Mitsui Mining) is the leading market player for copper foil products. The company is also called as Mitsui Kinzoku. The company operates through three segments, namely engineered materials, metals, automotive parts, and components. Under-engineered materials, the company manufactures top-quality electrodeposited copper foil. These products serve various end-use applications, such as automobiles, interior furnishing, printed circuit boards, and artwork. In December 2018, Mitsui Mining expanded its production capacity for ultra-thin electrodeposited copper foil with carrier MicroThin at a plant in Malaysia and proposed to establish new marketing base in China on account of rapidly growing electrical and electronics industry.