Dublin, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The "Global Copper Tubes Market by Type (Straight Length, Coils, Pancakes or Flattened Tubes, U-Bends & Drawn Tubes), Thickness (Standard Gauge, Extra Heavy Gauge, Thin Walled Gauge, Capillary Tubes), Application, and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global copper tubes market is projected to reach USD 54.5 billion in 2028 at a CAGR of 6.3% during the forecast period from USD 40.1 billion in 2023
The global copper tubes market is experiencing growth, driven by the increasing awareness of the environmental impact of waste disposal, particularly landfilling. Landfills are associated with soil and groundwater contamination, greenhouse gas emissions, and habitat disruption. Recycling is being promoted as a sustainable waste management option, allowing the recovery of valuable resources from discarded materials.
Recycling targets and regulations implemented by governments worldwide incentivize the development and adoption of advanced post-shredder technologies to enhance recycling efficiency. Recycling also provides a sustainable and cost-effective way to recover scarce and expensive materials like rare earth metals and certain minerals from discarded products.
Asia-Pacific leads the global copper tubes market, driven by rapid urbanization, industrialization, a thriving construction sector, and a booming automotive industry in countries like China and India. The electrical and electronics sector, renewable energy projects, and infrastructure upgrades also contribute to the region's strong demand for copper tubes.
The key players in this market are are Mueller Streamline Co. (US), KME Group S.p.A (Italy), Wieland Group (Germany), LUVATA (Finaland), KOBE STEEL, LTD. (Japan), Cambridge - Lee Industries LLC (USA), Shanghai Metal Corporation (China), Qindao Hongtai Copper Co., LTD (China), CERRO Flow Products LLC (USA), MM Kembla (Australia).
Plumbing by application is expected to be the fastest growing for copper tubes market during the forecast period, in terms of value
The plumbing sector has emerged as the fastest-growing application in the copper tubes market due to copper's inherent qualities that align perfectly with the demands of modern plumbing systems. Copper's exceptional resistance to corrosion and its ability to withstand high water pressure make it an ideal choice for plumbing installations, ensuring longevity and low maintenance costs.
Furthermore, copper's malleability facilitates easy installation, reducing labor time and costs, which is a crucial factor in the construction industry. As sustainability and the need for clean, safe drinking water become increasingly important, copper's antimicrobial properties add to its appeal, ensuring the maintenance of water quality.
These combined advantages have propelled plumbing to be the fastest-growing segment in the copper tubes market as it continues to gain traction in residential, commercial, and industrial applications worldwide.
Coils is expected to be the fastest growing type for copper tubes market during the forecast period, in terms of value
Coils, particularly in the form of heat exchangers and evaporator coils, have emerged as the fastest-growing application in the copper tubes market due to their pivotal role in various industries.
Copper's superior thermal conductivity makes it an ideal choice for heat transfer applications, ensuring efficient cooling and heating processes in diverse sectors such as HVAC, refrigeration, and industrial machinery. The increasing demand for energy-efficient systems has further boosted the adoption of copper coils, as they enable more efficient heat exchange, reducing energy consumption and operational costs.
Additionally, copper's corrosion resistance ensures the longevity and reliability of these coils, making them a preferred choice across multiple industries. This unique combination of thermal efficiency, durability, and energy savings has driven the rapid growth of copper coils in the market, solidifying their position as a key component in various applications.
Key Highlights:
- Environmental Awareness: Increasing global awareness of landfill-related environmental issues is driving the shift towards recycling and sustainable waste management.
- Regulations and Incentives: Recycling regulations and targets set by governments promote the development of advanced post-shredder technologies.
- Resource Recovery: Recycling offers a sustainable and cost-effective way to recover valuable and scarce materials from discarded products.
- Asia-Pacific Dominance: Asia-Pacific leads the copper tubes market, fueled by rapid urbanization, industrialization, a growing construction sector, and a thriving automotive industry.
- Electrical and Electronics Sector: Copper tubes are essential for components like heat exchangers, connectors, and coils in the electrical and electronics sector.
- Renewable Energy: Copper tubes find applications in renewable energy projects, such as solar thermal systems and heat exchangers.
- Infrastructure Upgrades: Ongoing infrastructure upgrades in older buildings prefer copper tubes for their durability.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 211 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $40.1 Billion |
| Forecasted Market Value (USD) by 2028 | $54.5 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Premium Insights
- Expansion of Construction and HVACR Sectors to Drive Market
- HVACR to Record Fastest Growth During Forecast Period
- Asia-Pacific to be Fastest-Growing Region During Forecast Period
- Coils to Record Highest Growth During Forecast Period
- Standard Gage to be Fastest-Growing Segment During Forecast Period
Case Study Analysis
- Optimizing HVACR Efficiency with Smaller Diameter Copper Tubes
- Novel Form of Pitting Corrosion in Copper Tubes Induced by Silica
- Infection Minimized in Subway with Copper Handrails in Santiago City
Market Dynamics
Drivers
- Global Expansion of Construction Industry
- Expansion of HVACR Sector due to Increasing Global Temperatures
- Technological Advancements Enhancing Efficiency and Sustainability of Copper Tubes
Restraints
- Fluctuations in Raw Material Prices
- Environmental Concerns and Regulatory Compliances
Opportunities
- Renewable Energy Industry to Create New Revenue Pockets for Copper Tubes
Challenges
- Shift in Consumer Preferences and Increasing Competition
Industry Trends
Sourcing Raw Materials
- Copper Ore Extraction
- Processing
Manufacture of Copper Tubes
- Casting and Smelting
- Extrusion and Drawing
- Annealing
- Cutting and Shaping
- Surface Treatment
Company Profiles
Key Players
- Mueller Streamline Co.
- Kme Group S.P.A.
- Shanghai Metal Corporation
- Luvata
- Cerro Flow Products, Inc.
- Cambridge-Lee Industries, LLC
- Wieland Group
- Qingdao Hongtai Copper Co. Ltd.
- Mm Kembla
- Kobe Steel, Ltd.
Other Players
- Uniflow Copper Tubes
- Golden Dragon Precise Copper Tube Group Inc.
- Junbaocheng Steel Limited
- Mehta Tubes Limited
- Brassco Tube Industries
- Nippontube
- Ningbo Jintian Copper (Group) Co. Ltd.
- Cupori
- Hailiang Group
- Maksal Tubes (Pty) Ltd.
- Mettube
- Lyon Copper Alloys
- Cubex Tubings Limited
- Seah Fs Co. Ltd.
- Tube Tech Copper & Alloys Pvt. Ltd.
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