India Copper Clad Laminates Market: Introduction
The India copper clad laminates market in the India was valued at ~US$ 2 Bn in 2020 and is expected to surpass US$ 3.6 Bn by 2031, expanding at a CAGR of ~6% during the forecast period of 2021 to 2031. Copper clad cover offers amazing protection, signal, conductivity, and support transmission, which make it a principal crude material in the manufacture of PCBs. Consequently, consistent progression of PCB sheets and their developing interest in terminal electronic items are estimated to propel the market during the forecast period. Rapid developments witnessed in the downstream electronic information industry; for instance, vacuum fluorescent displays and optical information storage systems, along with considerable extension of different end-use divisions are likely to drive the market over the next few years.
Copper clad laminate (CCL) is extensively utilized in the hardware industry, and is also used as a key raw material for manufacturing PCBs that are generally utilized in manufacturing various electronic products such as radios, TVs, mobiles, and PCs. The demand for these products is significantly increasing in India due to rapid digitization, growing disposable income, and favorable demographics, which, in turn, is expected to boost the consumption of copper clad laminates during the forecast period.
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Rapid Expansion of PCB Industry in India Driving Copper Clad Laminates Market
The demand for PCBs, a vital component in any electronic equipment, is rising at a highly rapid pace in India, owing to significant consumption of electronic goods in India, including mobile phones and computers. PCB is an electrically insulating board onto which electrical components are assembled and wired together. PCBs are used with memory, motherboard, graphics cards, and several other types of electronic devices.
According to estimates, the total consumption of PCBs in India is worth about US$ 2 Bn a year, and is increasing around 40% year-on-year. However, the total production of PCBs by India-based manufacturers is in the range of US$ 300 Mn, thereby offering significant opportunity to the industry. About 60 units are in operation in India, which include about 15 large manufacturers including AT&S and Cipsa.
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Trade War, COVID- 19 Outbreak to Hamper Market Growth
The escalating China–India trade war may restrain the market in the near future. The economic conflict has increased tariff on various China-made goods, and China being the major raw material supplier in the copper clad laminates market in India could possibly increase the product prices in India to offset its losses in the trade war. The COVID-19 outbreak has moderately affected the PCB demand due to the supply chain fallout and a decline in demand from industrial and automotive sectors. The majority of OEMs have their supply chain passing from China. The production from China is recovering; however, several nations are enacting stringent export laws to ramp up their safety measures. This has resulted in the shortage of PCBs in various industries in India, which, in turn, is hampering the copper clad laminates market.
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