Wilmington, Delaware, United States, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The highly malleable and soft nature of copper in its basic form makes it suitable for a wide range of applications in a large number of end-use industries. It is also widely used to make alloys, such as bronze and brass. Copper is also an excellent electrical conductor, making it a key raw material for the manufacture of electrical wiring. Growing demand from the electricals and electronics industries is positively affecting the growth of the global Copper Market. According to a recent study, the Copper Market is anticipated to expand at a CAGR of 4.6% over the forecast period of 2018 to 2026.
Growth of the global Copper Market is supported by several key factors, including increasing advancements in mining technologies, initiatives for the development of efficient ore processing designs, and increasing applications of copper and copper-based alloys for domestic and industrial purposes. Copper tubes are also widely used in the plumbing sector for the prevention of bacterial infections. This, along with increasing demand from the automotive industry, is most likely to support the growth within the global Copper Market. Furthermore, increasing demand from machinery and defense sectors, as well as the growing use of copper for manufacturing coins and ammunition, are also favoring the expansion of the market.
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Copper Market – Key Findings of the Report
- Increasing Demand from Construction, Appliances, and Power Generation Industries: Along with electronics, power generation, appliances, and construction industries accounted for a whopping 70% of the total share of the global Copper Market. This trend can be attributed to the rising demand for copper from these industries for making plumbing equipment, fittings, taps, and valves. Moreover, the growing use of copper materials to manufacture wiring for the electronics industry is also supplementing the market’s growth.
- Advantages of Copper in Maintaining Immune System: Ingesting copper minerals in adequate quantities aids in maintaining nerve cells and the immune system in the human body. Copper helps in assisting the human body in forming collagen, generating energy, and absorbing iron. Furthermore, it also plays an important role in red blood cell production. These trends are anticipated to drive the growth of the global Copper Market in the coming years.
Copper Market – Growth Drivers
- Copper aids in maintaining the immune system of the human body, which creates various expansion opportunities for players in the global Copper Market
- The rising prominence of copper materials across a large number of end-use industries supplements the growth of the market
- Increasing demand for copper rotors, hollow wires, motors, shaft heads, and foils for the production of electric vehicles drives growth
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Copper Market – Key Players
Key companies operating in the global Copper Market are
- Rio Tinto,
- Glencore International AG,
- LS-Nikko Co.,
- Sumitomo Metal Mining Co. Ltd.,
- BHP Bilition,
- Freeport McMoRan Inc., and Jiangxi Copper Corporation.
The presence of a large number of well-established players makes the landscape of the market highly competitive in nature.
Copper Market – Regional Growth Dynamics
- The growth of the Copper Market in North America and Europe regions is anticipated to remain steady over the forecast period. Key drivers for the development of the North America Copper Market are rapid advancements in the transportation sector and the emergence of new airplanes and trains in the region. The presence of a large number of leading players supports the growth of the Europe market.
- Asia Pacific dominated the global Copper Market in 2017, accounting for 65% of the total market share. The region is also expected to record significant growth in the coming years, owing to the rapid growth of various industries, such as electrical appliances, automotive, and construction. In addition to this, increasing demand for radiators, connectors, brakes, vats, wiring, copper motors, pressure vessels, and heat exchange equipment is also supporting the development of the Asia Pacific market
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Copper Market: Segmentation
Copper Market, by Type
- Primary Copper
- Secondary Copper
Copper Market, by Form
- Wire Rods
- Plates
- Sheets & Strips
- Tubes
- Bars & Sections
- Others (Ingots, Powder, etc.)
Copper Market, by Application
- Construction
- Transportation
- Appliances & Electronics
- Power Generation, Distribution and Transmission
- Others (Ammunition Coins, Machinery, Defense, etc.)
Copper Market, by Region
1. North America
- U.S.
- Canada
2. Europe
- Germany
- France
- U.K.
- Poland
- Italy
- Russia & CIS
- Rest of Europe
3. Asia Pacific
- China
- India
- Japan
- South Korea
- ASEAN
- Rest of Asia Pacific
4. Latin America
- Brazil
- Mexico
- Rest of Latin America
5. Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of MEA
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