Global Copper
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Grade |
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Market Split by Application |
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Market Split by Form |
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Market Split by Grade |
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Market Split by Process |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Copper industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Copper Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
According to the Cognitive Market Research Report, the Copper Market size in 2023 was XX Million and is projected to have a compounded annual growth rate of XX% from 2024 to 2031.
The global copper market is critical to the global economy and is used in a variety of sectors throughout the world. Multiple factors contribute to the worldwide demand for copper. Economic expansion and infrastructural development in emerging economies like China and India have greatly increased copper demand. Copper is widely used in the construction industry for electrical wiring, plumbing systems, and infrastructure projects, while the electrical and electronics industries rely on it for power production and transmission, telecommunications, and electronic gadgets. Copper's high conductivity and heat transfer qualities make it a popular option in industries such as automobiles, equipment, and electronics. Furthermore, renewable energy systems such as wind turbines and solar panels rely on copper to function efficiently.
Copper is a highly recyclable metal that contributes significantly to the circular economy and sustainability initiatives. Recycling reduces dependency on original copper production, conserves natural resources, and lessens environmental effects. Investors, industry participants, governments, and researchers all benefit from understanding the global copper market. Accurate analysis of supply and demand patterns, price variations, and market dynamics helps stakeholders make educated decisions and plan for long-term development and growth. Its distinctive features, along with rising demand from growing markets and technology breakthroughs, help to ensure its continuing relevance in the modern world.
The key drivers of this industry are rapid urbanization and population growth and rising demand for Electric Vehicles (EVs) and renewable energy
During the previous decade, the construction industry has seen major changes due to the adoption of new technology. Furthermore, some of the key drivers of the sector's growth include the rising construction industry, greater foreign investment, and the rate at which urbanization occurs. As a result of all of this, there has been an increase in the usage of byproducts in the building sector, including copper.
One of the primary drivers of copper market growth is the growing demand for large-scale constructions in emerging nations as a result of increased industrialization and urbanization.
In addition to these factors, the market has grown due to an increase in government infrastructure projects, an increase in the use of copper in electrical wiring, plumbing systems, heating and cooling systems, and architectural applications
Copper is an essential component in building. Copper has a wide range of building applications, from heating and plumbing to roofing and electrical wiring which is essential in the construction of buildings either commercial or residential. Moreover, Copper tubing is used in many different applications, including water pipes, refrigeration lines, heat pumps, and HVAC systems. Copper in means of a wire is also essential for distributing energy throughout the home and connecting to telecommunications and cable networks. Copper's malleability makes it simple to solder, yet it is strong enough to form the connections required for plumbing and electrical wiring.
Copper is light and low-maintenance, and because of its corrosion resistance, it may survive for hundreds of years. It has little thermal expansion, making it stable and resistant to damage due to movement. It is lighter than lead and requires less maintenance than other metals. It is nonmagnetic and has strong biofouling resistance, therefore it is often used in the construction sector to produce pipes and tubing for potable water distribution, as well as heating and cooling systems. Copper may be easily formed into various designs and is used as cladding and flashing material for gutters, downpipes, and copings.
Copper may be worked both hot and cold, with soldering or welding used to produce joins. Another significant benefit is copper's antibacterial properties. Its resistance to germs, viruses, and microorganisms is important in its application in plumbing and water transportation. Copper may be recycled several times without losing durability or conductivity, resulting in low life cycle consequences. This, in turn, indicates copper's cost-effectiveness when compared to other metals used in construction sectors. Copper roofing and cladding do not need to be changed and can survive for hundreds of years or more.
The metal's endurance minimizes the need for new roofing material and reduces trash caused by other worn-out roofing materials. This compensates for any higher initial expenses owing to the absence of maintenance expenditures required during the life of copper-clad or roof structures.
Hence, copper because of its proficient features is used as a vital component in the construction sector.
Electric vehicles use substantially more copper than internal combustion engine vehicles, and copper is essential to renewable energy infrastructure such as solar and wind power plants, increasing demand.
Electric vehicles have gained popularity as a greener and more sustainable alternative to internal combustion engine automobiles. Copper is at the center of this transformation because of its remarkable conductivity, thermal performance, and durability. Copper is commonly utilized in motor windings, power electronics, and charging infrastructure in electric vehicles.
Electric motors, which are at the heart of EV propulsion systems, require a lot of copper in their windings. The high conductivity of copper guarantees that these motors are efficient and capable of providing the necessary power for vehicle acceleration. Furthermore, EVs' regenerative braking systems, which contribute to enhanced energy efficiency, rely largely on copper to convert kinetic energy into electrical energy and store it in the batteries.
Copper is also critical in the renewable energy sector, which includes solar and wind power. Solar photovoltaic (PV) panels and wind turbines require a lot of copper for their wiring and conductive materials. Copper's ability to carry electricity effectively while withstanding extreme climatic conditions makes it a suitable material for various purposes.
Investing in copper mining, processing, and recycling facilities will help achieve its EV and energy targets while also stimulating indigenous industry. As countries pursue their green goals, energy storage providers must guarantee that copper's contribution is not overtaken.
As a result of copper’s conductivity, thermal performance, and durability it has proved to be a significant metal in electric vehicles.
Health impacts associated with copper may hamper the growth of the market.
Copper's environmental influence is felt in many parts of nature. Many species have established physiological or metabolic mechanisms to regulate, excrete, and/or detoxify excess internal copper and other important metals. Thus, copper concentrations in tissues are not a useful predictor of possible harmful effects on the organism, rendering the idea of "bioaccumulation" (as used for organic compound categorization as a persistent-bio accumulative-toxic [PBT] chemical) ineffective. Copper output worldwide continues to rise. This simply implies that more and more copper end up in the environment. Rivers are depositing sludge on their banks that are tainted with copper as a result of copper-containing wastewater discharge. Copper enters the atmosphere mostly as a byproduct of fossil fuel burning.
By this, copper in the air will persist for an extended amount of time before settling when it begins to rain. It will then end up primarily in soils. As a result, soils may hold significant amounts of copper once copper from the air has settled. Long-term exposure to copper can irritate the nose, mouth, and eyes, as well as induce migraines, stomach aches, dizziness, vomiting, and diarrhoea. Copper overdoses on purpose may harm the liver and kidneys, and possibly kill an individual. There are scholarly publications that suggest a relationship between long-term exposure to high copper concentrations and a loss in IQ among early adolescents.
Metal fume fever with atrophic alterations in nasal mucous membranes can develop as a result of industrial exposure to copper fumes, specks of dust, or mists. Wilson's failure, caused by chronic copper poisoning, is characterized by hepatic cirrhosis, brain impairment, demyelination, renal failure, and corneal copper deposition.
Therefore, few harmful consequences can hamper the growth of the copper market.
The COVID-19 outbreak severely disrupted the worldwide copper supply chain. Labour shortages, lower production as a result of safety regulations, and logistical difficulties in delivering copper products were among the obstacles encountered by mines and smelters. These interruptions reduced copper output, reducing the supply of refined copper for a variety of sectors.
Copper demand was impacted by the pandemic's economic impact. Lockdowns and limited industrial activity initially lowered demand in industries such as construction and car production. However, the fast acceleration of renewable energy projects, as well as the rising usage of copper in technologies for remote work and communication, helped to offset some of these losses.
The epidemic increased price volatility in the copper market. Prices fell initially owing to demand uncertainties and market fears. Subsequently, Prices then rebounded as supply restrictions grew more severe and governments across the world implemented stimulus packages to encourage economic growth.
Despite the short-term interruptions, copper continues to be an important resource in the shift to greener energy and technological progress. The pandemic emphasized copper's durability and flexibility in the face of global problems, emphasizing its ongoing relevance in a variety of industries, including green technology and infrastructure construction.
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The leading firms, along with numerous other minor players, battled in the global copper market, competing for market share and positioning themselves based on variables such as production capacity, geographical diversity, technical breakthroughs, and sustainable mining practices. The competitive environment in the copper market is vulnerable to change due to fluctuations in global demand, commodities prices, geopolitical concerns, and developments in mining technology.
For instance, Alterian, a London-based mining firm, has claimed the finding of "high-grade copper and silver" in its newly purchased Azrar Project in the western Anti-Atlas Mountains.
Top Companies Market Share in Copper Industry: (In no particular order of Rank)
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Asia Pacific had the greatest revenue share of XX% in 2023. A variety of reasons contribute to Asia Pacific's considerable proportion of the copper market. The region's growing industrialization, urbanization, and infrastructural development generate significant demand for copper in building, manufacturing, and electrical uses. Furthermore, copper is used extensively in Asia Pacific's thriving automobile and electronics sectors for components and wiring. The region's embrace of renewable energy technology, such as solar power and electric cars, contributes to increased copper use. Furthermore, the existence of major copper-producing countries, such as China, bolsters the regional supply chain. These trends combine and position Asia Pacific as a leading player in the global copper industry. The region accounts for a major portion of both copper production and consumption.
Countries such as China, India, and Japan have made significant contributions to the region's copper market growth. China, in particular, is the world's greatest user of copper, thanks to its thriving building and manufacturing industries. The country's fast urbanization, infrastructural development, and rising electrical and electronics industries all contribute to high copper demand. China's market supremacy is further enhanced by its considerable copper mining and processing capabilities. The presence of significant copper refineries and manufacturers, as well as increased demand for buildings due to the country's rapid urbanization, are driving up copper demand in China. Furthermore, the increasing growth of electric cars in China, Japan, and India is likely to benefit the Asia-Pacific copper industry.
According to the International Energy Agency (IEA), by the end of 2021, there will be 10 million electric vehicles on the road worldwide. Despite the pandemic-related global reduction in vehicle sales, which fell 16% in 2021, electric car registrations climbed by 41%. The market in this region has grown as a result of factors such as increased population and desire for high-quality items.
The current report Scope analyzes Copper Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Copper Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Copper Industry growth. Copper market has been segmented with the help of its Grade, Application Form, and others. Copper market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The copper market is classified into two types: primary copper and secondary copper. Throughout the predicted period, primary copper has grown significantly. It is the purest type of copper, obtained straight from mining activities. Primary copper is the primary supplier for a variety of sectors, including building, electronics, and manufacturing. Primary copper production is frequently the greatest volume contribution to the copper market.
The secondary copper industry, often known as copper recycling, contributes significantly to the global copper supply. Copper garbage, abandoned electrical wire, and obsolete copper objects are all examples of sources for recycled copper. Recycling lessens the need for primary copper production and conserves natural resources, making it an important form of the copper market.
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The market is divided into five applications: building and construction, electrical and electronic, industrial machinery and equipment, transportation, and consumer and general items. According to the copper industry estimate, electrical and electronic applications dominate the market. Rising demand in the electrical power industry for wire, cable, household electric circuits, transformers, plug components, connectors, and motor manufacture is expected to increase consumption throughout the projected period. Copper brazing material and copper foils are also increasingly employed in vacuum electronic equipment such as high-frequency tubes, magnetrons, and copper-printed circuits.
Building & Construction
Electrical & Electronics
Industrial Machinery & Equipment
Transportation
Consumer & General Products
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Copper market report 2024 Edition by contacting our team.
In previous years, the wire rods category emerged as the revenue share leader within the shape section. Wire rods are an essential component of the copper market since they are used to manufacture wires, cables, and electrical conductors. Because copper wires are commonly used in electrical and telecommunications applications, wire rods are an important component of the copper industry. The rise of the electrical and electronics sectors, as well as the growing popularity of electric cars, have all contributed to this segment's dominance. The Sheets and Strips category is predicted to increase at the second quickest rate. Copper sheets and strips, as well as copper foils, are utilized in a wide range of sectors, including roofing, construction, auto manufacturing, and electronics. Copper foils in particular are widely used in the electronics industry for printed circuit boards (PCBs). The continued growth of the electronics sector, as well as the need for high-tech equipment, have enhanced the value of sheets and strips in the copper market.
The market is divided into four grades: less than 0.5%, 0.5%-1.0%, 1.0%-1.5%, and more than 1.5%. The 1.0%-1.5% sector has a global market share dominated by copper-based supporting equipment and tools such as wires and cables. Furthermore, the need for copper mining is expected to rise due to the growing demand for wires and cables in the construction industry. In electrical grades requiring high conductivity, the highest quality copper (99.9% pure) is utilized. Such considerations drive the need for the highest copper quality in specific industries.
The market is divided into open-pit mining and underground mining based on the process used. Open pit mining, also known as surface mining, is the most common type of mining, which includes removing the top layer of soil to obtain access to the minerals beneath. Copper is often mined by open pit mining, which involves digging a succession of step benches further and deeper into the soil. The ore is then extracted by blasting and fracturing the hard rock with explosives. Furthermore, underground mining is another method/process in the mining business that is commonly utilised to recover mining ores and minerals deep beneath surface mining.
When copper ore is found far from the earth's surface, underground mining is performed. Miners do this by digging a shaft into the mineral deposit, either vertically or horizontally.
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Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Copper Market is witnessing significant growth in the near future.
In 2023, the Primary Copper segment accounted for noticeable share of global Copper Market and is projected to experience significant growth in the near future.
The Building & Construction segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Aurubis AG , Rio Tinto and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Grade | Primary Copper, Secondary Copper |
Application | Building & Construction, Electrical & Electronics, Industrial Machinery & Equipment, Transportation, Consumer & General Products |
Form | Wire Rods, Plates, Sheets and Strips, Tubes, Bars and Sections, Other |
Grade | Below 0.5%, 0.5%-1 %, 1% - 1.5%, Above 1.5% |
Process | Open-pit Mining, Underground Mining |
List of Competitors | Aurubis AG, HP Bilition, Rio Tinto, Freeport McMoRan I n c ., Glencore International AG, Jiangxi Copper Corporation, LS- Nikko Co., Sumitomo Metal Mining Co. Ltd ., Others |
This chapter will help you gain GLOBAL Market Analysis of Copper. Further deep in this chapter, you will be able to review Global Copper Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Copper Market Trends North America Copper Technological Road Map North America Copper Market Drivers North America Copper Market Restraints North America Copper Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Grade Analysis 2019 -2031, will provide market size split by Grade. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Grade Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Form Analysis 2019 -2031
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Chapter 13 Market Split by Grade Analysis 2019 -2031
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Chapter 14 Market Split by Process Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Copper market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Primary Copper have a significant impact on Copper market? |
What are the key factors affecting the Primary Copper and Secondary Copper of Copper Market? |
What is the CAGR/Growth Rate of Building & Construction during the forecast period? |
By type, which segment accounted for largest share of the global Copper Market? |
Which region is expected to dominate the global Copper Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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