A new study by ESOMAR-certified market research firm Future Market Insights (FMI) reveals that global copper foil sales will grow at 7.4% CAGR through 2030. Growing application in e-mobility will be one of the key factors driving the growth of copper foils globally.
Other key highlights of FMI’s study include,
- Application of copper foils in batteries to rise rapidly through 2030
- Accelerated shift towards e-mobility to offer potential opportunities of growth in near future
- North America and Europe to reflect significant investment prospects, given flourishing EV market
Recent studies on electromobility (e-mobility) reveal that copper is poised to play instrumental role in three key domains – charging infrastructure, energy storage, and production of electric vehicles (EV).
Electrification is considered as the most feasible way to achieve efficient and clean transportation that is critical to sustainable development worldwide. In the near future, EVs including, plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and pure battery electric vehicles (BEVs) are expected to lead the clean vehicle industry in coming years.
EVs contains copper nearly four times compared to that in fossil-fueled models, majorly utilized in lithium-ion batteries (LIB), rotors, and wiring. In addition, the International Energy Agency (IEA) estimates that LIBs are slated to predominate the EV market over following decade.
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As such trends sweep across the business landscape, manufacturers of copper foils are moving aggressively and creating comprehensive strategies to maximize their odds of capturing value at stake.
Copper Foil Sales Stay Afloat as EV Industry Defies COVID-19 Threat
From European manufacturers – BMW and Renault – to their Asian counterparts –Toyota and Hyundai – as well as US companies including, General Motors, have registered and are anticipating staggering sales and interest in EVs and relevant ‘new energy’ automobiles amidst the COVID-19 crisis.
In addition, FMI finds that about 2/3 of vehicles worldwide are poised to be electric by 2040. EVs are weathering the COVID19 storm better versus conventional internal combustion (IC) engine vehicles. Consequently, LIB demand stands to benefit, and copper foils – as key component part of these batteries – will remain high in demand in coming years.
Copper Foil Market – Competitive Intelligence
The global copper foil is fairly competitive, with presence of several regional and international players striving to achieve economies of scale. As the market is set for supply headwinds due to notable rise on-road EVs in coming years, market players are honing in on capacity expansions and strategic acquisitions and investments.
- KCF Technologies (KCFT) has started off large-scale production of 4-micrometer (μm) copper foils for EV batteries.
- SK Holdings Co. is looking to allocate additional investments in Lingbao Wason Copper Foil Co. – leading Chinese copper foil manufacturer – in order to ensure security in primary materials required for rechargeable batteries.
- In addition, the company has acquired 100% shares of KCF Technologies Co., which is the global leading producer of copper foil for LIBs, in a bid to diversify its product portfolio.
To Know More About Copper Foil Market:
A new market research report published by Future Market Insights (FMI) on the global copper foil market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the copper foil market through four different segments – grade, application, thickness and region. The copper foil market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of copper foils and product adoption across several end-use industries
For critical insights, request for PDF Brochure – https://www.futuremarketinsights.com/reports/brochure/rep-gb-12399
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