According to a recent market study published by Growth Market Reports, titled, "Lithium Battery Copper Foil” by type, application, and regions: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at USD 2,401 million in 2020 and is projected to reach USD 21,034 million by 2028, expanding at a CAGR of 23.2% during the forecast period. Rising demand for lithium battery copper foil in various industries, mainly in consumer electronics.

Lithium battery copper foils are expected to be popular among end-users during the forecast period. Rising demand for lithium battery copper foils is attributed to its growing use in electric vehicles across the globe. Growing demand for consumer electronics products is projected to drive the market in the coming years. Increasing adoption of electric vehicles across the globe is estimated to boost the market over the forecast period.

Request a free sample copy @ https://growthmarketreports.com/request-sample/2495

Global Lithium Battery Copper Foil market has been fragmented based on types, applications, and by region. In terms of types, the global lithium battery copper foil market is segmented into electrolytic copper foil and rolled copper foil. On the basis of applications, the global lithium battery copper foil market is segregated into car, consumer electronics, industrial usage, and others. Based on regions, the global Lithium Battery Copper Foil market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

A major factor driving the lithium battery copper foil market is the increasing adoption of electric vehicles across the globe, as lithium battery copper foil is a key material for electric vehicles.

Over the projected period, factors such as rising fuel prices and government activities in various regions to raise awareness about EVs are expected to encourage the use of electric vehicles, which is anticipated to boost the market during the forecast period. Favorable laws and regulations by governments, such as zero-emissions and fuel economy criteria, are expected to increase the demand for electric vehicles in the near future, resulting in increased usage of copper foil. Automakers such as Renault and MG Motors produced hybrid vehicles in developing countries, which is expected to boost the market in the coming years.

Increasing sales of smartphones is one of the key factors that is expected to drive the lithium battery copper foil market during the forecast period. Smartphones are popular electronic gadgets and are leading to a shift in lifestyles of people, where owning a smartphone is not a luxury but a need. Consumer spending on media, entertainment, networking, and mobile communication increases as disposable income rises, resulting in potential sales of smartphones, which is expected to boost the market in the coming years.

The effect of COVID-19 pandemic situation has led to the closure of several non-essential businesses reducing the demand for industrial goods in the world, which in turn, is affecting several industries worldwide. Increasing R&D activities for developing new, cost-effective, and innovative products are expected to fuel market growth.

Key Takeaways from the Study

  • The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period, due to growing electronics and e-vehicles industry, which in turn, increased the need for lithium battery copper foils in the region.
  • The electrolytic copper foil segment is expected to expand at a significant CAGR during the forecast period, due to rising consumer electronics and e-vehicles industry.
  • The car segment is anticipated to hold a significant share of the market during the forecast period owing to, factors such as rising fuel prices and government activities to increase awareness of electric vehicles are expected to encourage the use of electric vehicles, which is expected to drive the market during the forecast period.

Report Scope

Report Metric

Details

Market Value in 2020

USD 2,401 Million

Market Growth Rate (from 2021 to 2028)

23.2%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Types, Applications, and by Region.

Scope

Global

Region Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Key Companies Profiled

UACJ Foil Corporation, SKC, Avocet Steel, Magneto Special Anodes (Evoqua Water Technologies LLC), FURUKAWA ELECTRIC CO., LTD, Chang Chun Group, NAN YA PLASTICS CORPORATION, Tongling Nonferrous Metals Group Holding Co.,Ltd, ILJIN MATERIALS CO., Ltd, Nippon Denkai, Ltd., and Lingbao Huaxin Copper Foil Co., Ltd.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Lithium Battery Copper Foil products manufacturers, raw material suppliers, primary respondents, and distributors.
  • Demand Side: Consumer electronics, e-vehicles industry, and others.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Copper Development Association (CDA), American Society for Testing and Materials (ASTM), International Organization for Standardization (ISO), and Others.