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.
With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America electrode foil market. Electronic systems are increasingly becoming thinner and smaller with rising storage capacity and computing power demand. The need for high-speed data communication, energy generation, miniaturization, and increased transmission and storage capability is creating drastic changes in the development of electronic components. Electrode foils are widely utilized for manufacturing advanced electronic components. Usually, an electrode foil is made of copper, aluminum, or nickel, coated with ceramic and metal particles. Such foils are utilized as current electrodes in respective electrolytic capacitors to reduce the capacitor's size and increase the output discharge. Electrolytic capacitors are required in numerous applications, including computer motherboards and power supplies where low resistance and high capacitance are needed in small volume packages. Additionally, due to the COVID-19 pandemic, many companies began work-from-home (WFH) practices wherever it was possible. Also, educational institutes, colleges, and fitness classes started streaming online. Such developments increased the need for laptops and tablets in the region. With rapidly growing consumer electronics markets in various developing countries, the North America electrode foil market is reporting a remarkable surge.