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According to the new research report published by The Insight Partners, titled “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.
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.
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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.
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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Rising Use in Lithium-Ion Batteries
The need for lithium-ion batteries is growing notably in various parts of the world. A few of the typical applications of lithium-ion batteries include laptops, mobile, power backups, uninterruptable power supplies, consumer electronic goods, energy storage systems, and electric mobility. The requirement for electric vehicle lithium-ion batteries in China is predicted to account for around 700 GWh by 2030. Such a high requirement represents approximately half of the global requirement for electric vehicle lithium-ion batteries in 2030. Also, with the growing disposable income in many developing countries of Asia Pacific and the rising demand for tablets, personal computers, and consumer electronics products is expected to rise in coming years. Thus, the growing consumer electronics and automotive sector drives the demand for nickel, copper, and rolled copper alloy anode foils to manufacture lithium-ion batteries. Thus, the increasing requirement of uninterruptable power supplies in the manufacturing sector and growing investment in the lithium-ion batteries sector are anticipated to positively impact the global electrode foil market.
Electrode Foil Type-Based Market Insights
Based on type, the electrode foil market is bifurcated into anode and cathode. The cathode segment led the market with a market share of 66.4% in 2020. A cathode foil primarily contacts the electrolyte and acts as a connection to the negative terminal of the capacitor. This type of foil has a relatively lower degree of purity, around 99.8%. Considering the design, a non-solid aluminum electrolytic capacitor involves a second aluminum foil, also known as the cathode foil. The cathode foil is alloyed with various metals such as silicon, copper, and titanium to reduce the contact resistance to the electrolyte and make it challenging for oxide formation during discharge. The cathode foil is etched to enlarge the surface. It is necessary to avoid the direct contact between the anode and cathode foils as any such contact, even at low voltages, can lead to a short circuit. A cathode foil of aluminum electrolytic capacitors features a thin air-originated oxide layer, having a voltage proof of approximately 1 to 1.5 V. These electrolytic capacitors with a non-solid electrolyte can continuously withstand a minimal reverse voltage. The demand for cathode foils is increasing in hybrid and electric vehicle battery applications.
The List of Companies – Electrode Foil Market
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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In 2021, for low voltage, KDK Corporation introduced U199 etched and formed foils, U191 etched and formed foils, and LM108EF2 etched and formed foils.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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