Selbyville, Delaware , Sept. 25, 2023 (GLOBE NEWSWIRE) -- Copper foil market is predicted to reach around USD 9 billion by 2023, as per a recent study by Global Market Insights Inc.
The ongoing evolution of consumer electronics is a significant factor driving market progress. The demand for thinner, more flexible, and high-performance copper foils is urging manufacturers to create smaller, more advanced devices like smartphones, tablets, and wearables. Also, the roll-out of 5G technology is necessitating the use of copper foil for its integral role in high-frequency applications, boosting demand in the telecommunications sector.
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Copper's intrinsic antimicrobial properties are also fueling product usage in healthcare, where it is used in medical equipment, surfaces, and touchpoints as a defense against pathogens. Additionally, the construction and architectural industries are incorporating copper foils for their aesthetic appeal, durability, and sustainability features.
Rolled copper foil type to gain traction
Rolled copper foil market will experience a substantial upswing over 2023-2032, due to the proliferation of electronic devices and the push for miniaturization in industries such as smartphones, tablets, and wearables, which has led to a greater need for thinner and more flexible copper foils suited for compact circuitry. The growing emphasis on high-frequency communication systems in 5G and beyond is further driving the demand for copper foil as an essential component in advanced RF circuitry.
Increasing product usage for decorative applications
Copper foil market share from the decorative application segment will grow at a commendable pace by 2032, due to growing consumer propensity for aesthetics and craftsmanship in interior and exterior design elements. With consumers seeking unique and personalized decor solutions, the use of copper foils for creating intricate patterns, ornate finishes, and custom-made art pieces is on the rise.
Additionally, copper's natural antimicrobial properties have gained importance in the post-pandemic period, further boosting its adoption in decorative surfaces like countertops and wall coverings. The growing awareness of sustainability and copper's recyclability is also contributing to its popularity, aligning it with eco-conscious design trends, creating a favorable environment for market growth.
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Asia Pacific to emerge as a major market
Asia Pacific copper foil market size will register commendable growth over 2023-2032, given the robust presence of the electronics industry in countries like China, Japan, and South Korea. These nations are key manufacturing hubs for consumer electronics, and copper foils are essential components for flexible circuit boards in devices like smartphones and laptops. Additionally, the expansion of renewable energy infrastructure, particularly in China and India, is driving copper foil demand for solar panels and wind turbines.
In July 2023, the World Bank approved an investment worth USD 1.5 billion to accelerate the low-carbon energy sector in India. The funding is aimed at helping in the upscaling of renewable energy, the development of green hydrogen, and facilitating funding for low-carbon energy investments. The burgeoning electric vehicle (EV) market in the region is another key driver, as EV batteries rely on copper foils for their high conductivity. Lastly, the construction and automotive sectors in Asia Pacific are increasingly incorporating copper foils for their sustainability benefits, contributing to the market's growth.
Copper Foil Market Participants
Prominent players operating in the copper foil industry are Danaher Corporation, Thermo Fisher Scientific Inc., Abbott Laboratories, Bio-Rad Laboratories, Inc., Grifols S.A., Hologic, Inc., DiaSorin S.p.A., Immucor Inc., Merck KGaA, Ortho Clinical Diagnostics, Quotient Ltd, F. Hoffmann-La Roche Ltd, BAG Healthcare GmBH, and Diagnostica Stago, among others. These companies emphasize strategic collaborations, the introduction of new products, and effective commercialization as part of their strategies to expand their market presence.
In July 2023, SKC Co., the chemical division of South Korea's SK Group, announced a strategic partnership with Japan's Toyota Tsusho Corp, with the objective to create a sustainable supply system for high-quality copper foil in North America. SKC’s copper foil unit, SK nexilis, and Toyota Tsusho intend to collaborate in establishing a copper foil production facility in North America to meet the growing demand from potential customers in the region seeking top-tier copper foil products.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
