The Formed Segment to Dominate Middle East and Africa Electrode Foil Market during 2021-2028
According to The Insight Partners market research study on “Middle East and Africa Electrode Foil Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type. State, Material, Range, Application and Country,” is expected to reach US$ 575.80 million by 2028 from US$ 441.40 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the Middle East and Africa electrode foil market along with the drivers and restraints pertaining to the market growth. Rising application in consumer electronics sector and incrementing need in medical equipment are major factors driving the growth of the Middle East and Africa electrode foil market. However, electrochemical etching treatment on aluminum foil may hinder the growth of Middle East and Africa electrode foil market.
Many economic operations were suspended due to an increase in COVID-19 cases in the region. The UAE is a popular tourist place that receives thousands of travelers every year. Since the tourism sector in the country experienced a decline in demand, due international travel bans, the need for new air conditioners, television sets, and refrigerators reduced notably. This impacted the requirement for electrode foil used in respective PCBs. Moreover, the end users in the region are dependent on international suppliers and experienced significant supply chain disruptions during Q2 of 2020. The beginning of Q3 of 2020 marked the demand for various semiconductor products, such as electrode foils, among the end users when the operations resumed.
The market for Middle East and Africa electrode foil is segmented into type. state, material, range, application and country. Based on type, the market is segmented into anode and cathode. In 2020, the cathode segment held the largest share in Middle East and Africa electrode foil market. Based on state, the market is divided into etched and formed. The etched segment is expected to be the fastest growing segment over the forecast period. As per material, the market is segmented into copper and aluminium. In 2020, the aluminium segment held the largest share in Middle East and Africa electrode foil market. On the basis of range, the market is divided into low voltage, medium voltage, high voltage, and extra-high voltage. The high voltage segment is expected to be the fastest growing segment over the forecast period. Based on application, the market is segmented into printed circuit boards (PCBs), solid polymer capacitors, lithium-ion batteries, electrolytic capacitors, and others. In 2020, the lithium-ion batteries segment held the largest share in Middle East and Africa electrode foil market. Finally, based on country, the Middle East and Africa electrode foil market is segmented into South Africa, Saudi Arabia, UAE, Iran and rest of Middle East and Africa. In 2020, UAE held the largest share in Middle East and Africa electrode foil market. Furthermore, in this present scenario of COVID 19 pandemic, the Middle East and Africa electrode foil market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Middle East and Africa countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for electrode foil.
Industrie De Nora S.p.A.; TDK Corporation; Targray Technology International Inc.; KDK Corporation; Nichicon Corporation; Satma Ppc; and Xinjiang Zhonghe Co., Ltd. are some of the leading companies in the Middle East and Africa electrode foil market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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