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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