Chicago, June 10, 2024 (GLOBE NEWSWIRE) -- The Global Oxygen-Free Copper Market is projected to grow from USD 30.9 billion in 2024 to USD 40.4 billion by 2029, at a CAGR of 5.5% from 2024 to 2029. as per the recent study by MarketsandMarkets™. The increasing demand for oxygen-free copper is largely driven by the growing electronics and electrical industries, particularly in the Asia Pacific region. As countries like China, Japan, South Korea, and India continue to expand their manufacturing and consumer electronics sectors, there is a rising need for high-quality, high-conductivity copper materials. Oxygen-free copper's exceptional electrical properties and low impurity levels make it indispensable for applications like printed circuit boards, semiconductors, and audio-visual systems. Moreover, the shift towards electric vehicles and renewable energy sources further boosts the demand for oxygen-free copper. Price fluctuations in the oxygen-free copper market present a key challenge. Influenced by factors like raw material costs and global demand, these unpredictable changes can impact profitability and planning for both producers and consumers. Effective risk management and market monitoring are essential to mitigate these challenges.
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Browse In-Depth TOC On "Oxygen-Free Copper Market”
391 - Market Data Tables
55 - Figures
299 - Pages
List of Key Players in Oxygen-Free Copper Market:
- KGHM Polska Miedz SA (Poland)
- Proterial Metals, Ltd. (Japan)
- Mitsubishi Materials Corporation (Japan)
- Metrod Holdings Berhad (Malaysia)
- Aviva Metals (US)
- Aurubis AG (Germany)
- Copper Braid Products (UK)
- KME Germany GmbH (Germany)
- Sam Dong (South Korea)
Drivers, Restraints and Opportunities in Oxygen-Free Copper Market:
- Drivers: Increasing demand from electronics and electrical end-use industries.
- Restraints: High cost of oxygen free copper processing.
- Opportunity: Strong demand from APAC region.
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Key Findings of the Study:
- Automotive segment is projected to be the fastest growing segment in the oxygen free copper market.
- The wires segment is expected to dominate the oxygen free copper market.
- Asia Pacific region is the largest market for oxygen free copper.
The automotive segment is expected to register the highest CAGR in the oxygen-free copper market between 2020 and 2025. With the rise of electric vehicles (EVs), particularly in emerging markets like India, the automotive industry is gaining traction. Oxygen-free copper's high electrical conductivity makes it increasingly relevant for use in EV battery components. Additionally, growing demand from both the automotive and aerospace sectors will further fuel the market growth for this type of copper.
The wires segment holds the largest share in the oxygen-free copper market among wires, strips, busbars & rods, and others due to its widespread use across various industries. Wires are essential components in electrical and electronic applications, including power transmission, telecommunications, and automotive wiring. Their high electrical conductivity and reliability make oxygen-free copper wires the preferred choice for these critical applications, driving their dominant position in the market.
The oxygen free copper market is categorized, by grade, into Cu-OF and Cu-OFE. There are two main grades of oxygen-free copper: Cu-OF, with a purity of 99.95%, predominantly used in the electronics and electrical industries, and Cu-OFE, a high-purity variant with 99.99% purity, where impurities like silver and oxygen are reduced to 0.0005% during refining. Within this market, the Cu-OF grade is anticipated to register the highest CAGR.
The market for oxygen free copper is segmented, based on product form into Wire, Strips, Busbar & Rod, and Others. The wire segment is projected to lead the oxygen-free copper market, in terms of both value & volume.
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The oxygen free copper market is categorized, by end-use industry into electronics & electrical segment, automotive segment, and others. The largest share in the oxygen-free copper market, in terms of value, is held by the electronics & electrical segment. This industry demands copper with high conductivity for various applications, including backing plates, casting molds, heat sinks, audio & video systems, klystrons, magnetrons, microwave tubes, printed circuit boards, semiconductors, and vacuum capacitors & interrupters. The exceptional properties of these copper grades, such as superior electrical & thermal conductivity and resistance to hydrogen embrittlement during brazing, make them well-suited for use in the electronics & electrical industry.
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