Copper Market Demand Expected to Cross 30 Million Tons by 2025 – Global & Regional Industry, Applications, Trade, Share, Growth, Revenue & Forecast
Growing application in the electrical power industry such as transformers, plug components, connectors, wire, cable, residential electric circuits, and motor manufacturing is expected to drive copper industry consumption over the forecast period.
Dallas, United States – May 22, 2021 /MarketersMedia/ —
The global copper market size is estimated based on the ongoing trend and consumption patterns of the metal across the globe. The global copper market size has also been calculated based on an extensive value chain and a better understanding of Porter’s Five Forces’ analysis for the industry players’ decision making.
The global copper market is driven by increase in demand for the construction across the world, since it is one of the most widely used material in the construction business. In addition, increase in demand for the renewable attributes to the growth of the market.
Get Research Insights at: Global Copper Market Outlook
Moreover, there has been an increase in need for renewable energy, which is one of the prime factor which for the growth of the global copper market. Copper is one of the material, which is used in several roofing purpose, which significantly leads to the growth of the market. Moreover, there has been a significant increase in demand for copper sheets across the regions, thereby driving the demand for the market. In addition, the water resistance properties of copper is likely to boost the growth of the market in the estimated forecast period. In addition, copper is light in weight and easily malleable, which boosts the demand for the global copper market. In addition, there are several factors such as medicinal properties of copper which is likely to boost the growth of the market in the estimated forecast period. Furthermore, increase in awareness among people is also one of the prime factors, which is likely to boost the demand for the market. Moreover, increase in awareness among people by several organizations also boosts the growth of the market in the estimated forecast period. Furthermore, one of the properties of copper is the ability to resist fire, which leads to use in the making wires which is one of the major factor, which is likely to boost the demand for the global copper market.
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The global copper market is segmented into several factors such as application, and on the basis of geography. On the basis of application, it is further sub-segmented into building and construction, electrical and electronics, industry machinery and equipment, transportation and consumer and generals among others. On the basis of regional segments and geography, the market is further fragmented in to Europe, Asia Pacific, North America, and MEA. North America has the largest share for the global copper market.
Manufacturers operating in this industry are adopting M&A strategy to gain a competitive advantage over other producers. For instance, in January 2018, Aurubis, a prominent copper producer and recycler in Europe acquired Codelco’s shares in Deutsche Giessdraht. Deutsche Giessdraht, a German manufacturer of copper products, produces more than 200 kilo tons of copper wire rod per year out of high-quality Grade A cathodes. This acquisition will allow Aurubis a sole marketer of the brand Rhein-Rod. Moreover, in October 2018, BHP doubled stakes in a promising Ecuador copper project. According to BHP, this additional investment in SolGold strengthens its strategic position in the Cascabel copper exploration project.
Key Segments of the Global Copper Market
Application Overview, 2015-2025 (Kilo Tons, USD Billion)
– Building & Construction
– Electrical & Electronics
– Industrial Machinery & Equipment
– Transportation
– Consumer & General Products
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About Adroit Market Research
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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