Pune, India -- (SBWIRE) -- 12/24/2018 -- Industry Developments:
In July 2018, Doosan, a South Korean company, announced the building of its new plant in Tatabánya Industrial Park in Hungary which is capable of producing 50,000 tons of copper foil per year.
In July 2018, The Luxemburg division of the South Korean company, Circuit Foil, which specializes in copper foils, announced a development plan worth 7.5 Mn Euros for expansion into the electric car battery market.
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Market Segmentation:
By Type, the Global Copper and Copper Alloy Foils Market is segmented into copper foil, brass foil, bronze foil, copper-nickel foil, and others.
By Application, the Copper and Copper Alloy Foils Market has been segmented into construction, electrical & electronics, industrial machinery, transport, and consumer goods.
Regional Outlook:
By Region, the Global Copper and Copper Alloy Foils Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is the largest market for Copper and Copper Alloy Foils globally. The growth is attributable to the extensive use of the foils in industries across the region. The regional Copper and Copper Alloy Foil Market valuation is estimated to reach USD 15,919.8 Mn by the end of the forecast period striking a strong CAGR of 7.19%. Other factors responsible for favoring the growth of the market in the region are end-user industry penetration, consolidation of market players, cheap labor cost, increasing exports, etc. Additionally, China is the global leader in both the production and consumption of copper alloy foils. It accounts for around one-third of the total production of Copper and Copper Alloy Foils. Europe and North America are significant growth pockets in the Global Copper and Copper Alloy Market. They are likely to remain highly lucrative regional markets over the next couple of years owing to rapid industrialization, the presence of key players, etc.
Market Insights:
Market Research Future (MRFR)'s latest study projects that the Global Copper and Copper Alloy Foils Market is set to expand moderately at a healthy CAGR of 6.4% during the forecast period 2016 to 2023. The widening range of applications across different verticals, such as transport, consumer goods, and industrial machinery, is fueling demand for Copper and Copper Alloy Foils in the market. Copper alloy foils are more extensively used across different end-user industries than copper foils due to its exclusive properties such as flexibility, conductivity, and malleability.
The strong value maintained by the construction and electronics industries are likely to favor the proliferation of the Copper and Copper Alloy Market in the foreseeable future. The rate of expansion of the Copper and Copper Alloy Market is directly dependent on the growth of the end-user industries. Increase in demand has been projected from the end-user industries over the next couple of years. However, availability of Copper and Copper Alloy substitutes coupled with stringent regulations for containing harmful effects on the environment are expected to hold the market growth through the assessment period.
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