The global copper foil market size is5
global copper foil
size is projected to reach USD 10,375.6
million by 2028, exhibiting a CAGR of 7.9%
during the forecast period. This information is shared by Fortune Business Insights™ in its
report, titled “Copper Foil Market,
2021-2028”. In 2020, as per the report, the global market value was USD 5,703.0 million.
Demand for Electric Vehicles amid COVID-19 to Foster Market Growth
vehicles (EVs) have steadily expanded their presence and share in the global
car market as awareness about vehicular emissions has grown over the past few
years. In 2019, for instance, according to the International Energy Agency
(IEA), global EV sales stood at 2.1 million and global EV stock rose to 7.2
million. The outbreak of the COVID-19 pandemic has also not been able to thwart
the EV market, with electric car deployment reaching 10 million, as per estimates
released by the IEA. Copper foils are a critical component in electric cars to
efficiently conduct electrical signals and ensure the smooth running of the lithium-ion
battery in the EV. Thus, the increasing adoption of EVs, even amidst such an
unprecedented economic emergency, will create ideal conditions for the copper
foil market growth.
Announces Takeover of KCF Technologies for $1 Billion
Inc., the chemical arm of the SK Group, announced in January 2020 that it will
acquire KCF Technologies, one of the world’s largest copper foil producers for
lithium-ion batteries, for USD 1 billion. SKC will purchase a 100% stake in KCF
from a private equity firm based in the US, Kohlberg Kravis Roberts & Co.
Through this acquisition, SKC aims at diversifying its business portfolio and
strengthening its presence and operations in sustainable mobility. Moreover,
the takeover will allow SKC to cater to KCF’s clients in the EV battery market,
including LG Chem, Panasonic, and Samsung SDI.
Shielding Segment to Showcase Promising Growth
the basis of application, the market has been divided into circuit boards,
batteries, electromagnetic shielding, and others. Among these, the
electromagnetic shielding segment is predicted to make considerable gains over
the forecast period as this technology is essential in preventing interference
of components with each other. In 2020, this segment held a share of 9.7% in the global market and a share
of 7.3% in the China market. In
terms of geography, the market has been clubbed into North America, Europe,
Asia Pacific, Latin America, and the Middle East & Africa.
Information source: https://www.fortunebusinessinsights.com/copper-foil-market-104925