Electrode Foil Market to hit US$ 18,490.99 million by 2028
Rising Use in Lithium-Ion Batteries to Provide Growth Opportunities for Electrode Foil Market during 2021–2028
According to our latest market study on “Electrode
Foil Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by
Industry Type, State, Material, Range, Application, and Geography,” the market
is expected to grow from US$ 13,671.21 million in 2021 to US$ 18,490.99 million by 2028; it is estimated to
grow at a CAGR of 4.4% from 2021 to 2028.
The global
electrode foil market is segmented into five major regions—North America,
Europe, Asia Pacific, Middle East and Africa, and South and Central America. In
2020, Asia Pacific led the market with a substantial revenue share, followed by
North America and Europe. Various aspects of security systems involve
respective printed circuit boards (PCBs) for businesses, government buildings,
residential complexes, airports, and country borders. Security systems with
high efficiency play a significant role in the safety and security of such
vulnerable places. The growing requirement for security systems drives the
demand for respective electrode foils considerably. The perfect type of PCB
depends on the application, but all PCBs utilized for security and safety
applications must be reliable as they need to operate as expected at the time
of use. A few securities and safety equipment, involving crucial PCBs, are smoke
detectors, security cameras, and electronic door locks. Security cameras
(indoors or outdoors) depend on PCBs as they are used for monitoring security
footage. Motion Burglar alarms, smoke detectors, video cameras, carbon monoxide
detectors, and electronic door locks also incorporate high-quality PCBs.
Another primary use of electrode foil is in the PCBs of X-ray scanners used at
various national and international airports.
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According to
the India Brand Equity Foundation, the number of international tourist arrivals
in India will reach 30.5 million by 2028. The Government of India has decided
to give a one-month free tourist visa to 500,000 tourists till March 2022.
Thus, with an increase in the count of international customers, the need for
security systems is also anticipated to grow proportionally, which boosts the
demand for respective electrode foil.
Various
economies in the Asia Pacific region witnessed a sharp decline in their gross
domestic product (GDP) in 2020 due to the sudden closedown of the majority of
economic activities across the country. As per to the Organization for Economic
Co-operation and Development (OECD), the pandemic has affected major countries
such as India, Australia, China, and Japan. India is the worst-hit country by
the pandemic in this region. The limitations imposed by governments to control
the spread of COVID-19 during the initial time frame of the outbreak in the
mentioned countries affect the production process due to the restriction of a
limited workforce. Consumer electronics and automotive are the significant
sectors that contribute towards the growth of the electrode foil market in the
region. Owing to job loss or salary cut, buying capacity of the customer
decreased substantially. The reduced buying power impacted the sales of
television sets, washing machines, air conditioners, and other electronic
appliances. As per Automobile Industry Associations, the Indian automotive
industry suffered a daily loss of US$ 31,164 million approximately during 2020.
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The global
electrode foil market is segmented on the basis of type, state, material,
range, and application. The market, based on type, is segmented into anode and
cathode. On the basis of state, the electrode foil market is bifurcated into
etched and formed. Based on range, the electrode foil market is bifurcated into
low voltage, medium voltage, and high voltage. The electrode foil market, based
on material, is segmented into copper and Aluminium. On the basis of
application, the electrode foil market is bifurcated into printed circuit
boards (PCBs), solid polymer capacitors, lithium-ion batteries, electrolytic
capacitors, and others. On the basis of geography, the electrode foil market is
segmented into North America (US, Canada, and Mexico); Europe (France, Germany,
Italy, UK, Russia, and Rest of Europe); Asia Pacific (China, India, South
Korea, Japan, Australia, and Rest of APAC); Middle East & Africa (South
Africa, Saudi Arabia, UAE, Iran, and Rest of MEA); and South America (Brazil,
Argentina, and Rest of SAM).
Impact of COVID-19 Pandemic on Electrode Foil
Market in North America
The impact of COVID-19 differed from nation to nation
across the European region as some countries witnessed an increase in the
number of recorded cases and subsequently attracted strict and more extended
lockdown periods or social isolation. Germany, Italy, the United Kingdom,
Russia, France, and Spain are the countries that were most affected by various
limitations and restrictions. The automotive industry is one of the largest
markets for electrode foils. For meeting the respective requirements of weight,
space, and cost, the automotive industry utilizes distinct types of printed
board circuits (PCBs) which differ from each other in the type of substrate or
material used, and in the structure. The European automotive industry was
severely hit and experienced a decline of more than 20 percent in overall
automotive production due to severe supply chain disruption caused by imposed
lockdowns. Supply chain disruption impacted the demand for rigid PCBs, flex
PCBs, rigid-flex PCBs, LED PCBs, and HDI PCBs which are used in various
automotive applications such as reverse camera screens, control panels,
lighting systems, brake lights, and infotainment systems respectively.
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Nippon
Chemi-Con Corporation; Industrie De Nora S.p.A.; TDK Corporation; Targray
Technology International Inc.; KDK Corporation; NICHICON CORPORATION; JAPAN
CAPACITOR INDUSTRIAL CO., LTD.; SATMA PPC; TBEA Co., Ltd.; and Xinjiang Zhonghe
Co., Ltd. are among the major companies operating in the electrode foil market.
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