New York City, NY, November 23, 2017 (Newswire.com) - As per the projections of Persistence Market Research, the global electrodeposited copper foils market is estimated to be valued at US$ 6,664.4 Mn at the end of the year 2017 and is expected to reach a value of US$ 16,005.6 Mn by the end of the year 2025 and exhibit a CAGR of 11.6% during the period of assessment. In terms of volume, the consumption of electrodeposited copper foils was pegged at 384,912 tons in the year 2016 and is estimated to reach a value of 774,918 tons by the end of the year 2025 and is slated to exhibit a volume CAGR of 8.3% during the period of assessment.
Increasing demand for key end use industries fueling the demand for electrodeposited copper foils in the APAC market
There is a growing demand for electrodeposited copper foils from important end-use industries and this is expected to fuel the market growth during the period of assessment. With reference to this, the growth in the market for electrodeposited foils is expected to be mainly driven by green technologies and the growth in consumer electronics market. In addition, consumer electronics devices such as smartphones, tablets and laptops are popular, and these products use electrodeposited copper foils in them. Consequently, a strong demand for such products has also increased the demand for electrodeposited copper foils.
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On similar lines, the consumption of electrodeposited copper foils in the arena of consumer electronics is expected to witness a steady growth in the period of assessment. Moreover, electrodeposited copper foils are standard copper foils used for rigid PCBs and are mostly the standard in the PCB industry. Electrodeposited copper foils are used on a large scale by the manufacturers of PCB and this is also fuelling the market growth.
Increasing demand for hybrid and electric vehicles is propelling the growth of electrodeposited copper foils market
The electric vehicles industry is an important industry where the application of electrodeposited copper foils is found. In this industry, electrodeposited copper foils are used in the batteries that power such electric vehicles. The global market for electric and hybrid vehicles is booming, with the global electric vehicles market expected to witness a growth of nearly 2.9X during the period between 2016 and 2026. The use of electric cars has been growing since the year 2010, with an uptake of electric vehicles operated by battery slightly ahead of the uptake of plug-in hybrid electric vehicles. A major portion of these electric vehicles, 80% to be precise, are used in China, United States, the Netherlands, Norway and Japan. Thus, due to the robust growth witnessed in the use of electric and hybrid vehicles, the market for electrodeposited copper foils is also expected to increase manifold during the period of assessment.
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Focus on ultrathin electrodeposited copper foils is an upcoming trend
Electrodeposited copper foils find application in the negative current accumulators in lithium-ion batteries in the making of telecommunication devices or electric cars. In such applications, the thickness of the electrodeposited copper foils play an important role in deciding the capacity and weight of the battery. With the use of thinner copper foils, the weight and thickness of the battery is reduced. In addition, by reducing the thickness of the copper foils used, the power storage capacity of the battery also increases consequently. This also saves the energy needed to produce copper foils and increases the efficiency of the electric cars.
Global Electrodeposited Copper Foils Market Analysis, By Application
By application, the batteries segment is estimated to be valued at US$ 1,494.8 Mn in the year 2017 and is forecasted to reach a value of US$ 3,914.1 Mn in the year 2025, registering a CAGR of 12.8% during the period of assessment. By application, the switchgear segment is estimated to be valued at US$ 221.1 Mn in the year 2017 and is estimated to reach a value of US$ 369 Mn, exhibiting a CAGR of 6.6% during the assessment period.
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