Chicago, Jan. 16, 2024 (GLOBE NEWSWIRE) -- The global Oxygen-Free Copper Market is projected to grow from USD 19.9 billion in 2020 to USD 25.9 billion by 2025, at a CAGR of 5.3% from 2020 to 2025, as per the recent study by MarketsandMarkets™. Increasing demand for oxygen-free copper from the electronics & electrical end-use industry, especially in the Asia Pacific region, is expected to drive the demand for oxygen-free copper in the near future. The requirement for high-quality copper with high electrical conductivity has accelerated the demand for oxygen-free copper in the electronics & electrical end-use industry.
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Browse In-Depth TOC On “Oxygen-Free Copper Market”
150 - Market Data Tables
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List of Key Players in Oxygen-Free Copper Market:
- KGHM Polska Miedz SA (Poland)
- Hitachi Metals Neomaterials Ltd. (Japan)
- Zhejiang Libo Holding Group (China)
- Mitsubishi Materials Corporation (Japan)
- Metrod Holdings Berhad (Malaysia)
- Aviva Metals (US)
- KME Germany GmbH (Germany)
- Sam Dong (South Korea)
Drivers, Restraints, Opportunities and Challenges in Oxygen-Free Copper Market:
- Drivers: Increasing sales of electric vehicles (EVs).
- Restraints: High cost of oxygen-free copper processing.
- Opportunity: Untapped applications of oxygen-free copper across various industries.
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Key Findings of the Study:
- The Cu-OF segment is projected to lead the global oxygen-free copper market through 2025.
- The automotive segment is projected to grow at the highest CAGR in the oxygen-free copper market during the forecast period.
- The Asia Pacific is projected to hold the largest share in the oxygen-free copper market during the forecast period.
The Cu-OF segment acquired the largest share in the oxygen-free copper market in 2019, in terms of value, and is projected to grow at the highest CAGR during the forecast period. Cu-OF (C10200) is 99.95% pure copper with 0.001% oxygen content. Its conductivity rating is equivalent to electrolytic tough pitch (ETP) with minimum 101% IACS electrical conductivity. It generally has a liquidus and solidus melting point of 1,9810 Fahrenheit. Its density is 8.94 g/cm3. It is used in cutting-edge scientific equipment, such as magnetometers, electromagnets, and other superconductors.
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The electronics & electrical segment, by end-use industry, accounted for the largest share in the oxygen-free copper market, in terms of value. The electronics & electrical industry requires highly conductive copper for applications, such as backing plates, casting molds, heat sinks, video & audio systems, klystrons, magnetrons, microwave tubes, printed circuit boards, semiconductors, and vacuum capacitors & interrupters, among others. Properties of these copper grades, such as high electrical & thermal conductivity and resistance to hydrogen embrittlement during brazing, among others, make it suitable for applications in electronics & electrical industry.
In terms of geographic coverage, the oxygen-free copper market has been segmented into five regions, namely, North America, the Asia Pacific, Europe, the Middle East and Africa, and South America. The Asia Pacific region accounted for the largest share in 2019 and is also projected to record the highest growth rate during the forecast period. Asia Pacific is the largest producer and consumer of oxygen-free copper across the globe, with almost all major manufacturers and end-use companies present in the region.
The region has witnessed tremendous growth in the past few years, attributable to growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries’ growth in the region. Cheap labor costs, coupled with favorable import-export policies, have made Asia Pacific an ideal market for automotive OEMs as well as electronics manufacturers, which, in turn, is expected to drive the regional oxygen-free copper demand. The growth of electronics & electrical industry can be attributed to factors, such as growing economy, increasing demand for smartphones and other consumer electronics products, and the presence of numerous local and international manufacturers. Apart from this, increasing penetration of oxygen-free copper into emerging end-use applications in the electrical sector offers huge scope for the growth of the oxygen-free copper market.
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