New York, USA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global oxygen-free copper market size is projected to grow from USD 29.92 billion in 2023 to USD 49.83 billion by 2032, at a CAGR of 5.8%, according to a new report by Polaris Market Research.
Oxygen-free copper is excessively unadulterated copper with excessively low oxygen content. It has undergone an electrolytic clarification procedure to eliminate all but an indicated level of oxygen. It is the uncontaminated commercial copper grade obtainable, entailing 99.99% copper with the least aggregate of debasement, and is excessively endorsed for applications needing higher conductivity and congruences such as superconducting wires, PCBs, x-ray tubes, vacuum interpreters, rotor bars, and motor coils.
Key Insights from the Report:
- The market for oxygen-free copper is significantly shaped by the scaling up of production of electronics, automotive, and renewable energy, which causes the demand for high-conductivity substances.
- The oxygen-free copper market segmentation is mainly based on grade, product, application, and region.
- Based on grade, the Cu-OF segment is expected to experience the highest CAGR during the forecast period.
- By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Oxygen-Free Copper Market Scope:
| Report Attributes | Details |
| Market size value in 2023 | USD 29.92 billion |
| Market size value in 2024 | USD 31.64 billion |
| Revenue forecast in 2032 | USD 49.83 billion |
| CAGR | 5.8% from 2024 to 2032 |
| Base Year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Market’s Growth Drivers:
Growth of the Automotive Industry: The augmentation of the automotive industry is notably propelling the growth of the market. As automotive makers increasingly acquire progressive technologies, the demand for elevated presentation substances such as oxygen-free copper surges. This copper alternative is forced for its superlative conductivity and aversion to abrasion, making it perfect for utilization in electric vehicles, hybrid vehicles, and modern in-car electronics, contributing to the oxygen-free copper market growth.
Growing Demand for Consumer Electronics: The growing demand for consumer electronics is notably pushing the market. It is acknowledged for its outstanding aversion proof and superlative electrical conductivity. It is growingly approved for improving the dependability and presentation of electronic gadgets. This elevated presentation substance is becoming a favored option among manufacturers looking to encounter the growing consumer demand for progressive, resistant electronics. Subsequently, several industry contenders are shifting to oxygen-free copper to influence its advantages.
Technological Progressions: Technological progression in oxygen-free copper to improve the substance's attributes and applications pushes the market growth. Inventions in production methodologies and clarification procedures have given rise to enhanced clarity and conductivity of oxygen-free copper rendering it growingly treasured in elevated presentation electronics and other challenging applications. These progressions sanction superior performance, dependability, and productivity in commodities such as accelerated data cables, connectors, and electronic constituents.
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List of Oxygen-Free Copper Market Key Players:
- Copper Braid Products
- Cupori
- Hitachi Metals Neomaterial, Ltd.
- Hussey Copper
- Metrod Holdings Berhad
- Mitsubishi Materials Corporation
- Sam Dong
- Southwire Company, LLC
Geographical Analysis:
Asia Pacific accounted for the largest oxygen-free copper market share. This is due to its strong ecosystem for electronics and electrical industries, which are prominent consumers of this substance. Oxygen-free copper is vital in applications such as power conveyance, exclusive audio instruments, and telecommunications, all of which are noteworthy in this region. Further, notable funding in framework advancement by nations such as Japan and China has ignited market growth. This funding is improving the region's potential for progressive technology and electrical systems.
North America is also expected to grow at the highest CAGR during the forecast period. This is due to the obtainability of a strong framework for progressive manufacturing potential, which has pushed the demand for oxygen-free copper in the region. Further, growing merger and acquisition procedures by prominent contenders in the region are expected to augment the market reach during the forecast period.
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Market Segmentation:
By Grade Outlook:
- Cu-OF
- Cu-OFE
By Product Outlook:
- Wires
- Strips
- Busbars & Rods
- Other Products
By Application Outlook:
- Electrical & Electronics
- Automotive
- Other Applications
By Regional Outlook:
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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