The Cathode Segment to Dominate North America Electrode Foil Market during 2021-2028
According to The Insight Partners market research study on “North America 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$ 5,007.36 million by 2028 from US$ 3,799.23 million in 2021. The market is estimated to grow at a CAGR of 4.0% from 2021 to 2028. The report provides trends prevailing in the North America electrode foil market along with the drivers and restraints pertaining to the market growth. Rising Demand from consumer electronics sector and growing need in medical equipment are major factors driving the growth of the North America electrode foil market. However, electrochemical etching treatment on aluminum foil may hinder the growth of North America electrode foil market.
The continuous growth in COVID-19 cases compelled government authorities to impose stringent lockdowns across the region for the first two quarters of 2020. The manufacturing sector experienced notable losses due to temporary factory shutdowns and low production volumes, which hindered the growth of the automotive, electronics & semiconductor, and retail sectors. These restrictions impacted the sales of various consumer electronics products such as mobile phones, washing machines, and microwave ovens. Component shortages, quarantine mandates, and travel restrictions were major restraints in the production of handsets for smartphone manufacturers. A decline in demand for consumer electronics products negatively affected the requirement for electrode foil. However, during the Q3 of 2020, the industries reopened and the supply chain resumed its operations. But the effects of the COVID-19 pandemic had weakened the market; however, it experienced a positive impact as the demand for electrode foil started growing in the US, Canada, and Mexico as the end-user industries resumed their operations. Thus, the market for electrode foil in the region is expected to boost in the near future.
The market for North America 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 North America 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 North America 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 North America electrode foil market. Finally, based on country, the North America electrode foil market is segmented into US, Canada and Mexico. In 2020, US held the largest share in North America electrode foil market. Furthermore, in this present scenario of COVID 19 pandemic, the North America electrode foil market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for electrode foil.
Nippon Chemi-Con Corporation; Industrie De Nora S.p.A.; TDK Corporation; Targray Technology International Inc.; KDK Corporation; Nichicon Corporation; Satma Ppc; TBEA Co., Ltd. and Xinjiang Zhonghe Co., Ltd. are some of the leading companies in the North America 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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