Copper Market Size is Continues to Grow US$ 222 Bn till 2026

According to Acumen Research, “The global Copper Market is projected to reach USD 222 billion by 2026, growing with a CAGR between 4.6% from 2020 to 2026”. The market report provides an analysis of the global Copper Market for the period 2016-2026, wherein 2020 to 2026 is the forecast period and 2019 is considered as the base year.

Some of the major factors behind these projections include economic growth, rising urbanization primarily in emerging economies, advancement of power & telecom infrastructure and technological advancement are few key growth drivers for the global copper market. Copper wiring and piping, and copper alloys are used widely in both commercial as well as residential construction. Increasing demand from numerous industries, mainly from Asia-Pacific economies is the key factor driving global copper market growth.

The recently published report by Acumen Research and Consulting, titled Copper  Market Size 2020 by Application (Building & Construction, Electrical & Electronics, Industrial Machinery & Equipment, Transportation, Consumer & General Products) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2026, estimates the global copper market to grow at a significant rate and expected to grow at the CAGR of 4.6%. In Addition, copper and copper-based alloys are extensively used in a variety of applications which  are very useful in daily life. Copper alloyed along with zinc is termed brass. Bronze is an alloy of copper and 12% of tin and additional trace elements such as aluminum or manganese or nickel. When alloyed with other metals, copper can obtain new features which makes it appropriate for use in extremely specialized applications. Chemical, physical and aesthetic feature of copper make it a material of choice in aextensive range of industrial, domestic, and high-technology applications.

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Asia-Pacific is the largest market for copper supported by growth from India and China

In Asia Pacific, China established a significant share of the copper market in Asia Pacific, in terms of both volume as well as revenue, in 2017. Presence of key copper refineries and copper manufacturers and upsurge demand for construction led by growing urbanization in the nation are fueling the demand for copper in China. The copper market in North America, Europe, and Asia Pacific is anticipated to develop at a high CAGR during the estimated period. Subsequently, the copper market in Latin America and Middle East & Africa is expected to develop at a lethargic pace during the forecast period.

Electrical & Electronics segment to lead the global coppermarket

By application building & construction, electrical & electronics, industrial machinery & equipment, transportation, consumer & general products. Rising application in the electrical power industry such as wire, cable, residential electric circuits, transformers, plug components, connectors, and motor manufacturing is anticipated to drive its consumption over the forecast period. Furthermore, copper brazing material and copper foils are being gradually used in vacuum electronic devices such as high-frequency tubes, magnetron, and copper printed circuits.

Some of the leading companies operating in the global copper market include Jiangxi Copper Corporation, Tongling Non-Ferrous Metals Group, BHP Bilition, Antofagasta Plc., LS-Nikko Co., Group Mexico, and Aurubis. Other prominent players in the copper market are Vedanta Resources Plc, Freeport McMoRan Inc., Codelco, Rio Tinto, Glencore International AG, and Sumitomo Metal Mining Co. Ltd.

Some of the major factors behind these projections include economic growth, rising urbanization primarily in emerging economies, advancement of power & telecom infrastructure and technological advancement are few key growth drivers for the global copper market. Copper wiring and piping, and copper alloys are used widely in both commercial as well as residential construction. Increasing demand from numerous industries, mainly from Asia-Pacific economies is the key factor driving global copper market growth.

The recently published report by Acumen Research and Consulting, titled Copper  Market Size 2017 by Application (Building & Construction, Electrical & Electronics, Industrial Machinery & Equipment, Transportation, Consumer & General Products) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019-2026, estimates the global copper market to grow at a significant rate and expected to grow at the CAGR of 4.6%. In Addition, copper and copper-based alloys are extensively used in a variety of applications which  are very useful in daily life. Copper alloyed along with zinc is termed brass. Bronze is an alloy of copper and 12% of tin and additional trace elements such as aluminum or manganese or nickel. When alloyed with other metals, copper can obtain new features which makes it appropriate for use in extremely specialized applications. Chemical, physical and aesthetic feature of copper make it a material of choice in aextensive range of industrial, domestic, and high-technology applications.

Asia-Pacific is the largest market for copper supported by growth from India and China

In Asia Pacific, China established a significant share of the copper market in Asia Pacific, in terms of both volume as well as revenue, in 2017. Presence of key copper refineries and copper manufacturers and upsurge demand for construction led by growing urbanization in the nation are fueling the demand for copper in China. The copper market in North America, Europe, and Asia Pacific is anticipated to develop at a high CAGR during the estimated period. Subsequently, the copper market in Latin America and Middle East & Africa is expected to develop at a lethargic pace during the forecast period.

Electrical & Electronics segment to lead the global coppermarket

By application building & construction, electrical & electronics, industrial machinery & equipment, transportation, consumer & general products. Rising application in the electrical power industry such as wire, cable, residential electric circuits, transformers, plug components, connectors, and motor manufacturing is anticipated to drive its consumption over the forecast period. Furthermore, copper brazing material and copper foils are being gradually used in vacuum electronic devices such as high-frequency tubes, magnetron, and copper printed circuits.

Some of the leading companies operating in the global copper market include Jiangxi Copper Corporation, Tongling Non-Ferrous Metals Group, BHP Bilition, Antofagasta Plc., LS-Nikko Co., Group Mexico, and Aurubis. Other prominent players in the copper market are Vedanta Resources Plc, Freeport McMoRan Inc., Codelco, Rio Tinto, Glencore International AG, and Sumitomo Metal Mining Co. Ltd.

Market Segmentation as below:

Market by application

  • Building & Construction
  • Electrical & Electronics
  • Industrial Machinery & Equipment
  • Transportation
  • Consumer & General Products

Market By Geography

(Regional Output, Demand & Forecast by Countries)

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Spain and Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific)
  • Latin America (Mexico, Brazil and Rest of Latin America)
  • Middle East and Africa (GCC, South Africa and Rest of MEA).

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Overview of the Impact of COVID-19 on this market:

The development of COVID-19 has carried the world to a stop. We comprehend that this health emergency has brought an unprecedented effect on businesses across ventures. However, this also will pass. Rising help from governments and a few organizations can help in the battle against this profoundly infectious sickness. There are a few industries that are battling and some are flourishing. In general, pretty much every segment is foreseen to be affected by the pandemic.

We are taking persistent efforts to enable your business to continue and develop during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across ventures to assist you to prepare for the future.

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About Acumen Research and Consulting:

Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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