Copper Foil Market Size To Reach $21.99 Billion By 2030

May 2025 | Report Format: Electronic (PDF)

Copper Foil Market Growth & Trends

The global copper foil market size is anticipated to reach USD 21.99 billion by 2030 and is anticipated to expand at a CAGR of 13.0% during the forecast period, according to a new report by Grand View Research, Inc. Increasing adoption of renewable energy sources and electric vehicles (EVs), as a part of decarbonization efforts, is projected to fuel the growth of global market for copper foil.

Copper foil functions as the electrical conductor of the printed circuit board (PCB). Rising demand for PCBs, due to the application of copper foil, is playing a crucial role in influencing demand for copper foil. PCBs are essential building blocks in electronics manufacturing. As electronic devices become more complex and intelligent, there is an ever-growing demand for PCBs. As a result, rising demand for smart devices is likely to propel the growth of the industry.

Use of copper results in reduced carbon emissions and cuts down the amount of energy required to generate electricity. There are six times more copper in renewable energy systems than in traditional systems. Hence, growing adoption and transition towards green energy in infrastructure development, such as electric vehicles (EVs) and electricity generation is anticipated to benefit market growth. In March 2025, 1.7 million electric vehicles (EVs) were sold worldwide, contributing to a total of 4.1 million EVs sold in the first quarter of the year. This represented a 29% increase in sales compared to March 2024 and a 40% rise compared to February 2025.

Copper is a commodity that has historically witnessed high price volatility during the historic period of 2018-2022. Fluctuations in the prices of copper cathode are expected to have a bearing on the profitability of the producer. Further, hikes in energy prices, supply constraints, and high demand from end-use industries are expected to put pricing pressure on the global market and affect smelter profitability and revenue performance of foil producers over the forecast period. Hence, price volatility of copper is expected to be a significant restraint on the revenue performance of the market.

The market is very competitive, with a strong presence of several large-sized players, such as Nippon Denkai, Ltd., SKC, and Lotte Energy Materials Corporation. Due to growth of end-use applications, players have been investing in increasing their capacities through greenfield projects. For instance, In February 2025, Lotte Energy Materials announced that it would focus on high-value products, including copper foils for AI accelerators.

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Copper Foil Market Report Highlights

Rolled copper foil dominated the product segment with over 55% share in 2024 owing to its high consumption in batteries, solar panels, and IoT-enabled services, among others.
Based on application, the batteries segment is expected to grow at a lucrative pace over the forecast period, owing to the growing EV industry.
In solar & alternative energy, tin-plated copper foils in combination with acrylic-based pressure-sensitive adhesive tapes are used in thin-film solar applications. These are solderable, and their usage provides stable electrical performance. They are also easy to work with during the solar panel production process.
Asia Pacific dominated the market owing to several countries in the region focusing on reducing their carbon emissions by shifting their attention toward the adoption of renewable energy. For instance, according to the International Trade Administration, Taiwan plans to cater to 20% of its energy requirements from renewable sources by 2025. It is expected to harness 20 GW of solar energy by 2025.
In January 2024, Hungary-based Volta Energy Solutions announced its geographic expansion into the North American market by building a new battery copper foils plant in Quebec, Canada, to cater to a fast-growing EV segment. It is a developer of the world's first electrodeposited copper foils for batteries