According to data from GGII research, in 2025, driven by downstream demand, lithium battery copper foil shipments increased by over 36% year-on-year, reaching 940,000 tons. Looking ahead to 2026, industry growth momentum is expected to continue, with full-year shipments projected to reach 1.15 to 1.2 million tons. The product structure is accelerating its iteration towards ultra-thin specifications, establishing a clear trend of simultaneous volume and price increases.
The most significant change in the lithium battery copper foil industry in 2025 was the concentrated release of demand for ultra-thin products. Influenced by high copper prices, lithium battery companies have an urgent need to reduce costs, leading to strong demand for ultra-thin copper foil of 5μm and below. Related orders have continuously concentrated towards leading copper foil enterprises. This trend directly caused a structural shortage of production capacity in Q4, with leading companies experiencing robust production and sales and supply falling short of demand for their 5/4.5μm products, which became a core highlight for the industry.
At the product structure level, the ultra-thinning process for lithium battery copper foil has accelerated. In 2025, the share of 8μm products contracted significantly, while 6μm products remained the current mainstream. The share of 5 or 4.5μm ultra-thin products has already increased to 25%, and their market share is expected to double in 2026.
The market landscape exhibited dual characteristics of "increased concentration + reshuffling of the tail end." In 2025, the concentration ratio of the top 10 lithium battery copper foil companies approached 80% for the first time, an increase of nearly 6 percentage points compared to 2024. Simultaneously, the competitive landscape saw significant changes, with 7 companies within the top 10 experiencing shifts in their rankings. The core reason is that battery companies, to ensure supply security, accelerated procurement from second-tier (ranked 6-10) copper foil enterprises. However, due to differences in financial strength, customer structure, and production capacity scale, the market competitiveness of these second-tier players diverged, ultimately driving the ranking reshuffle.
Outlook for 2026: Ultra-thin becomes mainstream, volume-price growth + overseas expansion fuels growth. 1) Product structure iteration accelerates. The market share of 5/4.5μm ultra-thin copper foil is expected to exceed 50%, with full-year shipment volume projected to increase by over 140% year-on-year. 2) A trend of simultaneous volume and price increases is established. The processing fee for 6μm copper foil is expected to rise by 1,000-3,000 RMB/ton, significantly improving corporate profitability. Combined with expanding shipment volumes, overall industry revenue and profits are expected to grow in tandem. 3) Structural capacity shortage persists. The overall capacity utilization rate for electrolytic copper foil in 2026 is projected to increase by 5-10 percentage points. Driven by strong demand for 5/4.5μm products, a structural capacity gap in the industry will remain. Leading lithium battery copper foil companies are expected to maintain high production schedules throughout the year, with 4.5μm products, in particular, remaining in a state of supply shortage. 4) Overseas expansion and ESG become new growth engines. Spurred by the export and overseas expansion of China's lithium batteries and new energy vehicles, the country's lithium battery copper foil industry is poised to follow suit. In 2025, Hailiang Co., Ltd. took the lead by establishing a copper foil plant in Indonesia and securing orders from leading global customers, with capacity gradually being released and shipments commencing. 5) IPO processes accelerate, capital market activity rises. Since 2025, companies such as Taijin New Energy and Longdian Huaxin have been intensively advancing their IPO plans. Leading players like Jiayuan Technology and Zhongyi Technology are expanding production through refinancing. Focused on ultra-thin copper foil and core equipment, more companies are expected to be active in the capital market during 2026-2027.