The global copper foil market size is expected to reach USD 10.3 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.7% from 2020 to 2027. Increasing demand for higher transmission speeds is likely to contribute to the demand for copper foil products.
The need for a higher frequency of telecommunication and higher speed in mobile telecommunication and optical communication system applications is likely to increase over the coming years. In order to cater to such applications, producers are developing electronic components, such as high performance printed circuit boards (PCBs). Producers are focused on developing PCBs with low die-electric loss tangent and constant and high multi-layers, wherein the copper foil is a key raw material. This is projected to open new avenues for market vendors.
With the reduction in sizes and thickness of mobile devices, demand for thinner and smaller semiconductor packages and PCBs is projected to increase over the coming years. This is anticipated to fuel the demand for thin copper foil products over the coming years. Demand for mobile phones in India and China is projected to assist in market growth. For instance, as per statistics provided by the Indian Council for Research on International Economic Relations, India is the second-largest market for mobile phones after China. Out of 2.53 billion global users of smartphones, 337 million users were from India at the end of 2018. India’s compounded annual growth rate was 6.66% from 2007 to 2018, in terms of volume.
New investments to increase the production capacity to cater to the demand for emerging applications are projected to create new opportunities for market players. For instance, in February 2020, Circuit Foil, a copper foil producer based in Europe, announced an investment of around 40 USD million for the Wiltz copper foil production plant. This is projected to increase production by 30% and support its demand for base stations, antenna, and 5G technology captures.
Numerous countries have started conducting 5G trials, focusing on various applications through the use of different frequencies. Thus, the development of next-generation wireless systems, such as 5G and LTE-advanced, is likely to boost the demand for copper foil products in the long run. It has been estimated that China’s 5G bus base station investment will reach over USD 100 billion by 2024. With an increase in 5G user penetration rate and connection requirements for the bandwidth for 5G services, the market is likely to witness lucrative growth.
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Copper Foil Market Report Highlights
• Circuit boards emerged the largest application segment in 2019 and accounted for a volume share of 61.0 in 2019. Increasing demand for consumer electronics and automotive electronics is projected to fuel the growth of this application segment
• The batteries segment is projected to register the fastest growth rate in the forecast period. Increasing demand for lithium-ion batteries for electric vehicles and energy storage is anticipated to remain a key contributing factor for the market growth
• Asia Pacific was the largest regional market in 2019 with a volume share of over 72.0%. Increasing the production of PCBs, electronic components, and lithium-ion batteries in China, South Korea, and Japan is a primary driver for the market.
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