Wilmington, Delaware , May 24, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Aluminum Electrode Foil Market by Type (Cathode Foil and Anode Foil), and Application (Automotive, Consumer Electronics, Communications, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "aluminum electrode foil market" was valued at $1.1 billion in 2022, and is estimated to reach $2.6 billion by 2032, growing at a CAGR of 9.4% from 2023 to 2032.
Prime determinants of growth
The global aluminum electrode foil market is experiencing growth due to several factors such as increase in demand for lightweight, flexible electronic devices. However, competition from alternative materials is expected to hinder the market growth. Moreover, the emergence of flexible and stretchable electronics is expected to offer remunerative opportunities for the expansion of the global aluminum electrode foil market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $1.1 billion |
| Market Size in 2032 | $2.6 billion |
| CAGR | 9.4% |
| No. of Pages in Report | 277 |
| Segments Covered | Type, Application, and Region |
| Drivers | Increase in demand for aluminum electrode in the electronics industry Increase in demand for energy storage solutions |
| Opportunity | Increase in demand for off-grid power solutions |
| Restraint | Competition from other materials Price volatility of raw materials |
The cathode foil is expected to grow faster throughout the forecast period.
By type, the cathode foil segment held the highest market share in 2022, accounting for more than half of the aluminum electrode foil market revenue. This can be attributed to the fact that cathode foils are composed of multiple layers, with aluminum electrode foil being one of them. Other layers include active materials, binders, conductive additives, and separators, depending on the type and design of the battery. However, the cathode foil segment is also the fastest-growing segment in the aluminum electrode foil market growing with a CAGR of 9.5%.
The automotive segment is expected to lead during the forecast period.
By application, the automotive segment held the highest market share in 2022, accounting for more than three-fifth of the global aluminum electrode foil market revenue and is expected to retain its dominance during the forecast period, whereas automotive segment, is expected to grow with the CAGR of 9.6%. during the forecast period. Aluminum electrode foils are commonly used in the production of lithium-ion batteries for electric vehicles (EVs). These foils serve as the anode current collector, providing a conductive surface for the deposition of active battery materials.
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Asia-Pacific to maintain its dominance by 2032.
Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than half of the global aluminum electrode foil market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe, whereas Asia-Pacific is expected to grow with the CAGR of 9.7% during the forecast period. The increasing popularity of electric vehicles, particularly in countries such as China, Japan, and South Korea, is driving the demand for aluminum electrode foils. These foils are essential components in lithium-ion batteries, which are used to power various devices, including smartphones and electric vehicles.
Players: -
- AiSHi Capacitors
- Nantong Haixing Electronics Co., Ltd
- TOYO ALUMINIUM K.K.
- SATMA PPC
- UACJ Corporation
- Nippon Light Metal Co., Ltd
- TDK Foil Italy S.p.A.
- JCC, Shin-Etsu Chemical Co., Ltd.
- Gelon Lib Group Co., Ltd.
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The report provides a detailed analysis of these key players in the global aluminum electrode foil market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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