The global copper foil market size is projected to reach USD 10,375.6 million by 2028, exhibiting a CAGR of 7.9% during the forecast period. According to a recent report by Fortune Business Insights™, titled “Copper Foil Market, 2021-2028”, the value of the market stood at USD 5,703.0 million in 2020.
Increasing Smartphone Adoption to Favor Market Growth
Economic growth and development in several countries can be seen in the soaring demand for electronic products, especially smartphones, over the last decade. A 2019 survey by Pew Research Center revealed that over 5 billion people around the globe own mobile devices and more than 50% of these are smartphones. Further, a GSMA report cited by the World Economic Forum in 2019 predicts that by 2025 global smartphone ownership will rise to 79% from the current 60%.
Growing smartphone production will hugely benefit this market because the copper foil is an essential component in any electrical device. It is primarily used in circuit boards, which are installed in all kinds of electrical devices, to send and receive electrical signals. Expanding smartphone ownership will, thus, bolster the prospects of this market.
List of the Leading Companies Profiled in the Global Copper Foil Market are:
- ILJIN Materials Co., Ltd. (South Korea)
- Doosan Group (South Korea)
- Tex Technology Inc. (Japan)
- Mitsui Mining & Smelting Co., Ltd. (Japan)
- RCI Industries and Technologies Ltd. (India)
- Furukawa Electric Co., Ltd. (Japan)
- Shanghai Metal Corporation (China)
- SKC (South Korea)
- American Elements (U.S.)
- UACJ Foil Corporation (Japan)
Highlights of the Report
The report presents an exhaustive analysis of the market drivers, trends, and constraints, along with a comprehensive examination of the regional prospects and upcoming investment pockets for the market. In addition to this, the report offers detailed profiling and study of key market players and their strategies, as well as provides a granular evaluation of all market segments.
Major Driving Factor
The COVID-19 pandemic has created widespread disruptions in the global supply chains of raw materials, including metals and minerals, such as copper, silver, and gold. However, the copper foil market growth is unlikely to get hit by the pandemic in any major way because copper is known to possess excellent pathogen-fighting properties, which will prove beneficial in battling the coronavirus. For example, according to a microbiologist at Durham University, UK, copper releases reactive ions when it comes in contact with a germ, destroying its exterior and impacting its genetic structure.
Another researcher at the University of Arizona states that copper can displace metal ions found in the proteins of most pathogens and destroy or inhibit their production. These capabilities of copper have surged the demand for copper foil sheets and other coverings in the healthcare industry to fight COVID and contain its spread in medical facilities.
Key Market Segments
Based on application, the market has been segmented into circuit boards, batteries, electromagnetic shielding, and others. In 2020, the electromagnetic shielding segment held a share of 9.7% in the global market and a share of 7.3% in the China market.
On the basis of geography, the market has been grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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