Copper Foil Global Market Report 2024

Copper foil refers to a layer of copper applied to the outer and inner surfaces of metal sheets to enhance their thickness. This copper layer serves as an electrical conductor in various electronic devices, providing improved conductivity, plasticity, corrosion resistance, and ductility for metal sheets. Copper foil finds applications in industries where riveting and cutting tools are essential.

The two main types of copper foil are rolled copper foil and electrodeposited copper foil. Rolled copper foil is created by rolling thick copper and is commonly used in flexible circuit boards. Various grades of copper foil include electrolytic tough pitch copper (ETP) and deoxidized high phosphorus copper (DHP). Copper foil is utilized in printed circuit boards, batteries, electromagnetic shielding, and other applications across industries such as electrical and electronics, automotive, industrial equipment, building and construction, among others.

The copper foils market research report is one of a series of new reports that provides copper foils market statistics, including copper foils industry global market size, regional shares, competitors with a copper foils market share, detailed copper foils market segments, market trends, and opportunities, and any further data you may need to thrive in the copper foils industry. This copper foil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The copper foil market size has grown rapidly in recent years. It will grow from $11.75 billion in 2023 to $13.08 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth observed in the historical period in the copper foil market can be attributed to several factors, including the growth of the electronics industry, the miniaturization of electronic devices, increased demand for lithium-ion batteries, expansion in printed circuit board (PCB) manufacturing, and the overall growth in the renewable energy sector. These factors collectively contributed to the increased demand for copper foil, reflecting its integral role in various industries and technologies during that time.

The copper foil market size is expected to see rapid growth in the next few years. It will grow to $19.72 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The anticipated growth in the forecast period in the copper foil market can be attributed to several factors, including urbanization and infrastructure development, the increasing needs in the aerospace and defense sectors, the electrification of the automotive industry, compliance with environmental regulations, and expansion into emerging markets. Major trends expected during this period include the introduction of green energy solutions, the deployment of 5G networks, ongoing technological innovations, advancements in flexible electronics and displays, and the formation of strategic partnerships within the industry. These trends collectively indicate a dynamic and evolving landscape in the copper foil market, driven by advancements in technology, sustainability considerations, and collaborative efforts to address emerging challenges.

The increasing demand for electric vehicles is anticipated to be a driving force behind the growth of the copper foil market in the foreseeable future. Electric vehicles, powered by electricity stored in batteries, rely on copper foil in various components, including batteries, electric motors, and wiring, to facilitate the flow of electric current. In 2021, the Society of Manufacturers of Electric Vehicles (SMEV) reported a remarkable 132% growth in the sales of electric two-wheelers in India. The electric vehicle unit sales of two-wheelers surged from 10.7 lakh units in 2020 to 2.33 lakh units in 2021, underscoring the substantial rise in demand for electric vehicles. This surge is a significant driver behind the increasing demand for the copper foil market.

The expanding renewable energy sector is poised to contribute to the growth of the copper foil market. Renewable energy, derived from naturally replenished resources such as sunlight, wind, rain, tides, waves, and geothermal heat, plays a pivotal role in driving the demand for copper foil. The utilization of copper foil in renewable energy technologies, particularly in solar panels and advanced batteries, enhances conductivity and energy efficiency. According to the International Energy Agency (IEA), renewables are projected to account for approximately 95% of the global power capacity increase by 2026, with solar energy leading this expansion by contributing more than half. This growth in renewable energy adoption is a key factor driving the demand for the copper foil market.

Product innovation stands out as a notable trend in the copper foil market, with major companies focused on introducing new and advanced products to maintain their market position. In January 2021, Infinite Flex, a Germany-based company specializing in the development and manufacture of copper foils and copper powder, launched Infinite Powder Cu 01. This pure copper powder, manufactured using bound metal filament extrusion technology, facilitates the production of highly conductive copper components with unique standard selective laser melting (SLM) systems. The emphasis on product innovation reflects the commitment of industry leaders to stay competitive and meet the evolving needs of the market.

Leading companies in the copper foil market are actively involved in the manufacturing of ultra-high strength copper foil to meet the increasing demands of the electric vehicle (EV) sector, aiming to enhance their revenue in the market. Ultra-high strength copper foil is characterized by significantly elevated tensile strength compared to standard copper foils, rendering it more resistant to stretching or breaking under tension. In August 2022, SK Nexilis Co, a subsidiary of South Korea-based SKC Ltd., introduced a technology for mass-producing ultra-high strength copper foil, specifically designed for use in EV batteries and semiconductor materials. This advanced copper foil boasts double the tensile strength of conventional foils, contributing to the safety and density of rechargeable batteries. Additionally, the foil exhibits high heat resistance, ensuring durability and increased productivity. SK Nexilis has also pioneered a method to produce copper foils as thin as 4 micrometers, with a width of 1.3 meters and a length of 30 km per roll.

In October 2022, Lotte Chemical, a South Korea-based chemical company, completed the acquisition of Iljin Materials, a move that secured a 53.3% stake in Iljin Materials for Lotte Chemical. This strategic acquisition marks Lotte Chemical's entry into the global EV material industry. Iljin Materials, known for being a South Korea-based copper coil producer for secondary batteries, aligns with Lotte Chemical's broader goals in the EV sector and positions the company strategically in the global landscape of EV material production. This acquisition reflects the industry's commitment to meeting the evolving demands of the electric vehicle market and underscores the importance of securing key players in the supply chain to drive innovation and growth.

Major companies operating in the copper foil market include LS Mtron Co. Ltd., Chang Chun Group, Furukawa Electric Co. Ltd., ILJIN Materials Co. Ltd., JX Nippon Mining & Metals Corporation, Carl Schlenk AG, Mitsui Mining & Smelting Co. Ltd., Nippon Denkai Ltd., UACJ Corporation, Rogers Corporation, Sumitomo Metal Mining Co. Ltd., Circuit Foil SA, Shandong Jinbao Electronics Co. Ltd., Wieland Metals India Pvt. Ltd., Nan Ya Plastics Corporation., Doosan Corporation, Eneos Holdings Inc., SKC Inc., NUODE New Materials Co. Ltd., Lingbao Wason Copper Foil Co. Ltd., Guangdong Jia Yuan Technology Shares Co. Ltd., Jiujiang Defu Technology Co. Ltd., Jiangxi Copper Corporation, Fujian Clear View Copper Foils Co. Ltd., Kingboard Copper Foil Holdings Limited, Targray Technology International Inc., ANSIO Ltd., Solus Advanced Materials, SH Copper Products Co. Ltd., United Copper Foil (Huizhou) Co. Ltd., Civen Metal Material Co. Ltd.

North America was the largest region in the copper foil market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the copper foil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the copper foil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The copper foil market consists of sales of surface-treated electrodeposited copper, high-temperature elongation (THE) copper foil, double-treated foil, resistive copper, and low-profile copper. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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