Electrifying Growth: How the Global Copper Foil Market Surges with the Rise of Electric Vehicles

Copper Foil Copper Foil

The global copper foil industry size is predicted to register a CAGR of 7.4% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 6,732.3 million in 2023 to US$ 13,746.9 million by 2033 end.

The robust growth of the copper foil industry can be credited to the surge in demand for electronic gadgets like tablets, laptops, and mobile phones. The demand for electronic gadgets can be traced back to the rise in online education programs, digitization, and the Internet of Things (IoT). A Couple of factors such as elevating discretionary income, several digitization initiatives by governments, favorable policies, and economical internet usage plans, etc., in the developing economies, are stimulating market development.

The Rising prevalence of electric vehicles in developed countries like the United States, the United Kingdom, and Germany, is anticipated to spur the utilization of copper foils. Electric automobiles or EVs are observing heightened demand, underpinned by regulations on carbon emissions and accelerating awareness pertaining to environmental concerns. Building onto the rising prevalence of EVs, automotive manufacturers like MG Motors and Renault presented hybrid vehicles in emerging economies to further the market growth of EVs. As a result, the copper foil industry is also benefitting from this shift in consumer preference.

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Top Highlights from the FMI’s Analysis of the Copper Foil Market: 

  • The United States is projected to bag a prominent share of the copper foil industry, i.e., a total of 9.9% share by the end of the forecast period. The Rising production of electronic vehicles in the country is a significant reason that is backing the market growth.
  • India is expected to emerge as a robust-paced market for copper foil in the years to come, growing at a CAGR of 8.8%. Manufacturing units or companies in India offering several processes, including design, development, production, and maintenance of copper foils under a single roof, is pushing the market expansion in India.
  • In Europe, Germany is projected to hold a sizeable amount of market share, i.e., 3.8%. Escalating demand for energy storage and electric vehicles in the country are prime factors propelling the market growth.
  • The United Kingdom is predicted to grow at 4% CAGR over the upcoming years, driven by the increasing initiatives by the European Union to reach its goal of a circular economy by 2030.
  • Copper foils are being profusely used in the development of batteries, thereby leading to segment growth. By application, the batteries segment is estimated to contribute 17.6% share of the market.

Key Players Charged with Expansion of Market Growth

The market in focus is considered fragmented. To enhance the geographical footprint, key players are employing strategies like joint ventures and acquisitions. As per FMI’s research, companies are likely to acquire medium or small-scale manufacturing units to cater to the robustly expanding demand for copper foil from various verticals. Apart from this, the top companies in the market intend to scale their production capacities in multiple regions for a better product reach.

  • Rogers Corporation and Farasis Energy (GanZhou) Co., Ltd. came together in July 2021 to deploy their resources and technology to contribute towards product development and innovation. The main motive of this joint venture is to enhance the performance, safety, and lifespan of battery packs.
  • JX Nippon Mining & Metals Corporation, in August 2021, set up a new company by the name of JX Metals Circular Solutions Europe GmbH. With this establishment, the company aims to encourage the recycling of castoff automotive lithium-ion batteries, along with the development projects battery materials. The expansion is projected to contribute towards the company’s expansion.

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Copper Foil Market Key Segments

By Grade:

  • ETP
  • DHP

By Application:

  • Printed Circuit Boards
  • Heat Exchangers
  • Batteries
  • Busbars & Switchgears
  • Radiators
  • Electrical Equipment (Transformers, and Cables)
  • Others

By Thickness:

  • 0.01 to 0.1 mm
  • 0.1 to 1mm
  • 1mm to 3mm
  • 3mm to 12mm
  • 12mm to 25 mm
  • 25 mm to 60 mm

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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