Copper and Copper Alloy Foil Market to eyewitness Strong Growth by 2027, with Players - Copper Holdings, Inc., Amari Copper Alloys, Arcotech Ltd, JX Nippon Mining & Metals
The copper and copper alloy foils market is proliferating majorly due to the rapid growth in the burgeoning electrical & electronics and automotive industries. Besides, the rising production of electric vehicles (EV) fosters the growth of the market, consuming a large amount of copper and copper alloy foils. Moreover, the spurting rise in automobile production escalates the market on the global platform, providing multiple growth opportunities.
According to Market Research Future (MRFR), the global copper and copper alloy foils market is poised to garner a value of USD 1409.0 MN by 2023, registering around 6.14% CAGR during the review period (2017-2023). Due to its excellent electrical & thermal conductivity and corrosion resistance, copper and copper alloy foils are hugely consumed in various end-user industries. However, the automotive industry is a key application area of copper and copper alloy foils.
Moreover, augmenting demand for electric vehicles led by the rising crude oil prices, alongside the rapid development in the electrical & electronics sector, propels the copper and copper alloy foils market. Other successfully penetrated applications of copper and copper alloy foils include embossing, fine craft, and microwave tubing, among others. Furthermore, the growing demand for portable electronic devices alongside the dramatic growth in electrical and electronics appliances drives the growth of the market.
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Global Copper & Copper Alloy Foils Market - Segmentation
The report is segmented into three key dynamics;
By Type : Copper Foil, Copper Nickel Foil, Brass Foil, Bronze Foil, and others.
By Application : Automotive, Electrical & Electronics, Decorative, and others.
By Regions : Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Global Copper & Copper Alloy Foils Market - Regional Analysis
The Asia Pacific region dominates the global copper and copper alloy foils market, accounting for around 49.1% market share. The largest market share attributes to the growth in automotive production and the rapid economic growth in the region. Besides, the presence of major players and increasing penetration of the end-use industries foster regional market growth.
Moreover, factors such as rapid growth in electric vehicles and rapid urbanization in the region drive the market demand excellently. Also, flourishing consumer electronics and automotive industries in the region create considerable demand in the market. The APAC copper and copper alloy foils market is estimated to retain its dominance throughout the forecast period.
Europe stands second in the global copper and copper alloy foils market in terms of value and volume. Proliferation of electric vehicles in the region acts as a key driving force for the market, complying with stringent regulations associated with emission from automotive. The presence of a well-developed automotive industry in the region is contributing to the market growth, creating a vast demand for copper and copper alloy foils for electrical components.
The copper and copper alloy foils market in North America is rapidly emerging as a profitable market, globally. The rising consumption of copper and copper alloy foils in the automotive and electronics sectors is a major growth driver. The US market holds a major share of the copper and copper alloy foils market in the region. The North America copper and copper alloy foils market is projected to create a substantial revenue pocket during the review period.
Global Copper & Copper Alloy Foils Market - Competitive Analysis
Highly competitive, the global copper and copper alloy foils market appears with the presence of several well-established players. To gain a larger competitive share in this market, these players incorporate strategies such as collaboration, acquisition, mergers, expansion, and technology launch. These players strive to deliver quality products and innovative technologies.
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The market demonstrates high growth potential, which attracts many new entrants resulting in intensified competition further. Players invest substantially to produce an extensive product line in a streamlined manner in their state-of-the-art infrastructure. Thus, they not only precisely meet the customers’ specifications but also build a favorable reputation in the market of having high- quality and experience.
Players leading the global copper and copper alloy foils market include Global Brass and Copper Holdings, Inc., Amari Copper Alloys, Arcotech Ltd, JX Nippon Mining & Metals