Copper Foil Market

The global copper foil market is expected to see continued growth driven by increasing demand worldwide. Consumption trends indicate a rise in market volume and value, with a projected CAGR of +1.3% and +4.2% respectively from 2022 to 2030. In 2022, consumption decreased slightly, but overall consumption saw growth over the past decade. The largest consuming countries include China, the United States, and Malaysia. Production and exports also saw fluctuations with Taiwan (Chinese) leading in production and exports. Import prices varied among major importing countries, with China being the largest importer. Export prices showed a measured expansion, with Japan having the highest average export price in 2022.

Market Forecast

Driven by increasing demand for copper foil worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market volume to 493K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Copper Foil

In 2022, consumption of copper foil decreased by -1.5% to 443K tons for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, global consumption reached the peak volume at 450K tons in 2021, and then reduced in the following year.

The global copper foil market value declined to $6.5B in 2022, waning by -7.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $7B in 2021, and then dropped in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (38K tons), the United States (33K tons) and Malaysia (31K tons), together comprising 23% of global consumption. India, Vietnam, the Netherlands, Thailand, Japan, Poland, Russia, Nigeria, Brazil and Indonesia lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +27.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest copper foil markets worldwide were Vietnam ($1.1B), China ($705M) and the United States ($511M), with a combined 36% share of the global market. Indonesia, Malaysia, Thailand, Japan, Poland, Nigeria, the Netherlands, India, Russia and Brazil lagged somewhat behind, together accounting for a further 29%.

Poland, with a CAGR of +33.3%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of copper foil per capita consumption in 2022 were the Netherlands (1,017 kg per 1000 persons), Malaysia (937 kg per 1000 persons) and Poland (369 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +27.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Copper Foil

After five years of growth, production of copper foil decreased by -7.8% to 425K tons in 2022. In general, production recorded a perceptible setback. The most prominent rate of growth was recorded in 2020 with an increase of 5.8%. Global production peaked at 522K tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, copper foil production expanded to $29.8B in 2022 estimated in export price. Over the period under review, production saw a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 15% against the previous year. Global production peaked at $75.1B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

Taiwan (Chinese) (145K tons) constituted the country with the largest volume of copper foil production, accounting for 34% of total volume. Moreover, copper foil production in Taiwan (Chinese) exceeded the figures recorded by the second-largest producer, Japan (27K tons), fivefold. Malaysia (17K tons) ranked third in terms of total production with a 4.1% share.

In Taiwan (Chinese), copper foil production increased at an average annual rate of +1.4% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Japan (-0.0% per year) and Malaysia (+3.0% per year).

Imports

World Imports of Copper Foil

After two years of growth, overseas purchases of copper foil decreased by -8.4% to 546K tons in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 18% against the previous year. As a result, imports reached the peak of 596K tons, and then reduced in the following year.

In value terms, copper foil imports dropped to $8.6B in 2022. In general, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 35%. As a result, imports attained the peak of $9.6B, and then contracted in the following year.

Imports By Country

China represented the main importer of copper foil in the world, with the volume of imports accounting for 172K tons, which was approx. 31% of total imports in 2022. It was distantly followed by South Korea (64K tons), Malaysia (37K tons), Japan (32K tons), Thailand (26K tons) and the United States (26K tons), together achieving a 34% share of total imports. India (22K tons), Vietnam (22K tons), Taiwan (Chinese) (20K tons), the Netherlands (15K tons), Poland (14K tons), Hungary (12K tons) and Hong Kong SAR (11K tons) took a minor share of total imports.

Imports into China decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Vietnam (+42.5%), the Netherlands (+39.6%), Hungary (+27.8%), Poland (+27.2%), India (+8.9%), Malaysia (+7.2%), Thailand (+6.7%), the United States (+6.1%), Japan (+4.7%) and South Korea (+3.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +42.5% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-20.8%) illustrated a downward trend over the same period. While the share of Vietnam (+3.8 p.p.), Malaysia (+3.4 p.p.), South Korea (+3.1 p.p.), the Netherlands (+2.7 p.p.), Poland (+2.4 p.p.), India (+2.3 p.p.), Thailand (+2.3 p.p.), Japan (+2.2 p.p.), the United States (+2.1 p.p.) and Hungary (+2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of China (-5.2 p.p.) and Hong Kong SAR (-18.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.3B) constitutes the largest market for imported copper foil worldwide, comprising 39% of global imports. The second position in the ranking was taken by South Korea ($1B), with a 12% share of global imports. It was followed by Taiwan (Chinese), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +2.1%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+4.8% per year) and Taiwan (Chinese) (+0.6% per year).

Import Prices By Country

The average copper foil import price stood at $15,793 per ton in 2022, which is down by -2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15%. As a result, import price attained the peak level of $16,180 per ton, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($29,767 per ton), while India ($4,942 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Copper Foil

In 2022, overseas shipments of copper foil decreased by -13% to 528K tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 15%. Over the period under review, the global exports attained the peak figure at 649K tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, copper foil exports contracted to $8.6B in 2022. Over the period under review, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. As a result, the exports reached the peak of $9.7B, and then shrank in the following year.

Exports By Country

Taiwan (Chinese) (165K tons) and China (134K tons) represented the key exporters of copper foil in 2022, resulting at approx. 31% and 25% of total exports, respectively. South Korea (57K tons) held the next position in the ranking, followed by Japan (44K tons). All these countries together held near 19% share of total exports. Malaysia (23K tons), the Netherlands (14K tons), Hong Kong SAR (11K tons), Thailand (10K tons), Germany (9.6K tons), the United States (9.5K tons), Luxembourg (8.9K tons) and Italy (8.2K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +41.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest copper foil supplying countries worldwide were Taiwan (Chinese) ($2.3B), Japan ($1.8B) and China ($1.2B), together comprising 62% of global exports. South Korea, Malaysia, Hong Kong SAR, the United States, Germany, Luxembourg, the Netherlands, Italy and Thailand lagged somewhat behind, together accounting for a further 32%.

In terms of the main exporting countries, South Korea, with a CAGR of +11.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average copper foil export price amounted to $16,250 per ton, increasing by 1.8% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper foil export price increased by +52.1% against 2016 indices. The pace of growth was the most pronounced in 2021 an increase of 21%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($40,707 per ton), while Thailand ($6,772 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform