San Francisco, 16 April 2024: The Report Copper Foil Market Size, Share & Trends Analysis Report By Product (Electrodeposited, Rolled), By Application (Circuit Boards, Batteries, Solar & Alternative Energy, Medical), By Region, And Segment Forecasts, 2024 - 2030

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.

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 2030.

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The market is expected to be driven by increasing emphasis on digitalization and clean energy. Copper plays a very important role in infrastructure development. Industry output and electricity generation are responsible for 40% of the world’s greenhouse gas emissions. Decarbonization involves the usage of renewable resources for electrification. Copper is a key material for transmission, and foil is essential for the manufacturing of batteries used in renewable energy systems, including solar and wind power storage.

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 2030. It is expected to harness 20 GW of solar energy by 2030
• 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

Growing need for sustainable and eco-friendly energy production is boosting demand for solar energy in the U.S., which is expected to have a positive impact on the market. According to the Solar Energy Industries Association, more than 162.8 gigawatts (GW) of solar power is installed in the U.S., enough to power 29.6 million homes. Over the last decade, the solar market in the region has grown at an average rate of 24% each year.

Key foil producers have been investing in the U.S. copper foil market. For instance, in July 2022, Denkai America, a manufacturer of electrodeposited copper foils used in printed electronics, invested USD 150.0 million to establish a new production facility in Richmond County, Atlanta. The new plant will focus on EV battery foil production. As a result of rising demand for renewable energy, usage of copper foil has increased in various applications, and key industry players are adopting strategic initiatives to stay ahead in a competitive market.

Copper Foil Market Report Scope

Market growth stage is high, and pace of market growth is accelerating. The demand for copper foil is rising due to growing adoption of clean, renewable energy in power generation and electrification applications. Industry experiences a moderately low level of merger and acquisition activities by key industry companies owing to market concentration. Partnerships and collaborations among emerging players are growing in popularity. They have a shared commitment to work towards common objectives, using each other's expertise and strengths for mutual benefit. This is due to several factors, including a desire to maintain market share and a need for a highly competitive, and growing market.

List of Key Players in the Copper Foil Market

• Chang Chun Group
• Circuit Foils
• Doosan Corporation Electro-Materials
• Furukawa Electric Co., Ltd.
• Lingbao
• Lotte Energy Materials Consumption
• LS Mtron
• Nippon Denkai, Ltd.
• SKC
• UACJ Foil Corporation