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Copper Foil Market Share to Reach $17.32 Billion at CAGR of 10.31% by 2023
July 31, 2019 | Globe NewswireEstimated reading time: 3 minutes
The growth of the manufacturing industry on the global front is anticipated to lead towards demand generation for copper foils in the forthcoming years. Market Research Future (MRFR)’s assessment has asserted that the global copper foil market is prognosticated to mark a double-digit CAGR of 10.31% across the forecast period 2018 to 2023. The valuation of the market, as per the study, is expected to exceed $17.32 billion by 2023.
Copper foils are extensively used in the production of electronic components. The rising demand for electronics and gadgets is expected to increase the demand for copper foil, thus supporting market growth. In addition, the rising demand for electric cars is also expected to favor the proliferation of the copper foil market over the next few years.
On the basis of type, the global copper foil market has been bifurcated into rolled copper foil and electrodeposited copper foil. The rolled copper foil market led the growth in 2017 and is expected to maintain its dominance in the years to come. These foils come in different varieties and are extensively used in the production of printed circuit boards (PCBs). The growing demand for PCBs from end-user industries is expected to propel the expansion of the segment over the next couple of years. In addition, the electrodeposited copper foil segment is likely to benefit from the rising production of anode batteries in the foreseeable future.
On the basis of application, the copper foil market has been segmented into electrical & electronics, automotive, industrial equipment, building & construction, and others. Among these, the electrical & electronics segment is anticipated to exhibit significant growth owing to the increasing demand for copper foils in the production of electronic components. The growth of the consumer electronics industry is likely to drive the proliferation of the segment in the years to come. In addition, the rising demand for electric cars is poised to boost the growth of the automotive segment over the next few years. The automotive segment is prognosticated to exhibit a substantial CAGR across the projection period.
The geographical evaluation of the global copper foil market covers Europe, Latin America, North America, Asia Pacific (APAC), and the Middle East & Africa (MEA). Asia Pacific held the lion’s share of the market in 2017, which accounted for 53.3% share. The region has attracted foreign direct investments (FDI) in the recent years for the establishment of manufacturing units. This, in turn, is anticipated to encourage the revenue generation of the players over the next couple of years. The lenient regulations and low labor costs are expected to unleash developmental opportunities to the copper foil market in the region. Also, rapid industrialization and urbanization are prognosticated to motivate the growth pattern of end-user industries such as construction, automotive, consumer electronics, etc. The growth of these industries is expected to generate demand for copper foil in the upcoming years.
Europe is projected to secure the second leading position through the review period. The growth of the automotive sector in the region is one of the crucial factors contributing to the development of the copper foil market over the next couple of years.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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