Global Copper Market: Snapshot 

Properties of copper have made it one of the most metal that is widely used in different industries. Moreover, it can be easily recycled among all the metals. Copper-based alloy found their application in day-to-day life. It is largely used for industrial, domestic, and high technology purpose. 

global copper market

Growing demand for copper is likely to meet by mining technology, discovery of new copper reserves, and efficient designs of ore processing. Most importantly, copper contributes to GDP in both developed and developing countries, which has further increased its importance across the globe. Recycling of copper, mining, and its transformation into processed metal to develop diverse range of products has created large number of jobs and contributed in the growth of the GDP of a country.

According to TMR analysis, the global copper market is expected to progress at 4.6% CAGR during the forecast tenure between 2018 and 2026. The market is expected to reach a valuation of US$222.1 bn by the end of 2026. 

Ductile Property of Copper has Boosted Its Demand for Making Wire Rods

The global copper market is categorized on the basis of form, type, and application. In terms of form, the global market is segmented into plates, wire rods, tubes, sheets and strips, bars and sections, and others. The wire rods segment held maximum share in 2017, and is likely to lead the market over the forecast period. High-energy efficiency, ductility, strength, and corrosion resistance are the properties of copper that has led its demand in making wire rods. Due to these properties, copper is widely used for manufacturing power cables, wires, and other industrial equipment. 

Application of copper is seen in transportation, construction, appliances & electronics, distribution and transmission, power generation, and others industries. Of these, power generation, construction, and appliances and electronics collectively held 70% share in the global copper market in 2017. Moreover, the others segment comprising of ammunition coins, defense, machinery, etc. is leading the global copper market. High demand for copper for making taps, plumbing, valves, and fittings has augmented growth in this market. Moreover, copper tubes help in preventing bacterial infections, which has led its demand in these industries. The transportation segment is expected to hold second position in the market. 

Based on type, the market is bifurcated into primary copper and secondary copper. Of these two, secondary copper is likely to witness higher growth over the projected period. 

Rising Growth in Construction and Automotive Industries to Boost Copper Demand in Asia Pacific 

With respect to geography, the global copper market covers Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Among these, Europe and North America copper market is projected to rise steadily in the forthcoming years. Recent advancements seen in the transportation industry and introduction of new trains and airplanes in the region has further boosted growth in North America copper market. Europe is also contributing substantially in e expanding copper market, as large number of players are operating in this market. 

Asia Pacific is expected to hold larger share in the global copper market. In 2017, Asia Pacific held 65% of share in the market. Rapid growth in the construction, automotive, and appliances industries has led dominance of this region in the global copper market. Moreover, higher demand for wiring, radiators, copper motors, connectors, heat exchange equipment, brakes, pressure vessels, and vats further boosted growth in the Asia Pacific copper market. China is expected to hold maximum share in Asia Pacific copper market. 

In terms of competition, the global copper market is highly competitive due to the presence of larger number of players operating in the market. The report provides in-depth information of the leading players and the strategies used by them. The report includes BHP Bilition, Rio Tinto, Freeport McMoRan Inc., Glencore International AG, Jiangxi Copper Corporation, LS-Nikko Co., and Sumitomo Metal Mining Co. Ltd.

Copper Market - Overview

Copper is one of the widely used metals since ancient times. Copper tools have helped civilization to emerge from the Stone Age. Copper has significantly contributed to development of the society from early stages of human race. Copper is the only metal in the earth’s crust that is available in its pure form. In the nature, it is found in different forms such as copper sulfide ores.

Copper is a crucial component of electricity infrastructure, machinery, and digital communications across the world. Voice, data, and information systems rely on copper wires due to high electric and thermal conductivity of copper. Copper is used in wind energy and solar power industries as well as energy-efficient buildings and electric vehicles, as it has higher strength-to-weight ratio compared to steel. Copper is also employed in medical applications and drinking water infrastructure, as it has antimicrobial properties.

Among applications, the construction segment held a major share of the global copper market in 2017. The trend is likely to continue throughout the forecast period. Copper structures are used in the construction sector in the form of building facades, doors, frames, windows, and canopies. Copper can withstand extreme weather conditions and can bear high compressive loads. Major government, commercial, and residential buildings use copper for their rainwater harvesting systems and roofing. Transportation is likely to be the second-largest application segment of the global copper market from 2018 and 2026, owing to high demand for copper in sectors such as automotive, marine, and new-generation airplanes & trains. At present, an average mid?size automotive vehicle contains about 22.5 kilograms of copper, while high-end luxury cars contain around 1.6 kilometers of copper wires on an average.

Asia Pacific held a significant share of the global copper market in 2017, in terms of both value and volume. The region is expected to continue its dominance throughout the forecast period. China is a highly lucrative market for copper in Asia Pacific, followed by India and Japan. Growth of automotive car production and construction sectors across the globe is a driving factor for the global copper market. The automotive sector in North America is expanding at a significant rate. This, in turn, is anticipated to offer lucrative opportunities to the copper market in the region. Europe is expected to gain market share during the forecast period. The market in North America is likely to expand at a significant pace in the near future. The market in Latin America and Middle East & Africa is likely to expand at a sluggish pace in the near future.

This report analyzes and forecasts the market for copper at the global and regional levels. The market has been forecast in terms of revenue (US$ Mn) and volume (kilo tons) from 2018 to 2026, considering 2017 as the base year. The study includes drivers and restraints of the global copper market. It also covers the anticipated impact of these drivers and restraints on the demand for copper during the forecast period. The report also highlights opportunities in the copper market at the global and regional levels.

The report includes detailed value chain analysis, which provides a comprehensive view of the global copper market. The report also comprises a list of key manufacturers and top 10 copper-producing countries in the world for 2017. Regulatory landscape has also been included so as to offer different standards and regulations used in copper mining and handling across countries/regions. Porter’s Five Forces model for the copper market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein type, form, and application segments have been benchmarked based on their market size, growth rate, and general attractiveness. The study also includes pricing analysis based on type and region.

The study provides a decisive view of the global copper market by segmenting it in terms of type, form, and application. In terms of type, the market has been divided into primary copper and secondary copper. In terms of form, the market has been segmented into wire rods, plates, sheets & strips, tubes, bars & sections, and others (ingots, powder, etc.). In terms of application, the copper market has been segregated into construction, transportation, appliances & electronics, power generation, distribution and transmission, and others (ammunition coins, machinery, defense, etc.). These segments have been analyzed based on the present and future trends. The regional segmentation includes the current and forecast demand for copper in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides the actual market size of the copper market for 2017 and the estimated market size for 2018 with forecast for the next eight years. The global copper market has been provided in terms of revenue (US$ Mn) and volume (kilo tons). The market size has been provided for the global, regional, and country-level markets.

The report comprises profiles of major companies operating in the global copper market. Key players operating in the copper market include Codelco, Rio Tinto, Glencore International AG, Freeport McMoRan Inc., Jiangxi Copper Corporation, BHP Bilition, Antofagasta Plc., Group Mexico, and Aurubis. Other prominent market players include Vedanta Resources Plc, Sumitomo Metal Mining Co. Ltd, LS-Nikko Co., and Tongling Non-Ferrous Metals Group. The report also comprises a matrix of comparison between the top four players operating in the copper market along with their market share analysis for 2017.

The global copper market has been segments as follows:

Global Copper Market, by Type

  • Primary Copper
  • Secondary Copper

Global Copper Market, by Form

  • Wire Rods
  • Plates
  • Sheets & Strips
  • Tubes
  • Bars & Sections
  • Others (Ingots, Powder, etc.)

Global Copper Market, by Application

  • Construction
  • Transportation
  • Appliances & Electronics
  • Power Generation, Distribution and Transmission
  • Others (Ammunition Coins, Machinery, Defense, etc.)

Global Copper Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Poland
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

Key Takeaways

  • Global and regional market share of the copper market in terms of volume (kilo tons) and value (US$ Mn) by different type, form, and application segments for the period between 2018 and 2026
  • Detailed analysis of the country-level demand for copper in countries/sub-regions including the U.S., Canada, Germany, the U.K., Italy, France, Spain, Poland, Russia & CIS, China, India, Japan, South Korea, ASEAN, Brazil, Mexico, GCC, and South Africa with respect to different type, form, and application segments for the period from 2018 to 2026
  • Technical overview of the copper production process
  • Key indicators, drivers, restraints, and opportunities in the global copper market
  • Import–export analysis of the global copper market in terms of form and region
  • Global copper pricing trends based on type and regional segments
  • Value chain analysis, Porter’s five forces analysis, and regulatory scenario in the global market for copper
  • Market attractiveness analysis based on type, form, and application segments of the global copper market
  • Key findings for the copper market in all regions and in-depth analysis of major type, form, and application segments of the global copper market, in terms of volume and value
  • Competition matrix of key players operating in the market and market share of major companies
  • Detailed company profiles for 16 market players
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