The global copper foil market size is set to reach US$ 6,732.3 million in 2023. Overall sales of copper foil are likely to surge at 7.4% CAGR, taking the forecasted market valuation to US$ 13,746.9 million by the end of 2033.
The global copper foil market 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:
Key Players Charged with Expansion of Market Growth
The market in focus is considered fragmented. For enhancing 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 are intending to scale their production capacities in multiple regions for a better product reach.
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Key Segments
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Jul 04, 2023