Copper & Copper Alloy Market Research Report - Forecast Till 2030

Copper & Copper Alloy Market Research Report: Information by Product Type (Copper Foil, Brass Foil, Bronze Foil, Copper Nickel Foil and Others), Application (Construction, Electrical & Electronics, Industrial Machinery, Consumer Goods and Others) and Region (North America, Asia-Pacific, Europe, Latin America and Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/2544-HCR | February 2023 | Region: Global | 140 Pages         

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Copper & Copper Alloy Market Overview


The copper & copper alloy market is expected to gain a market value of USD 566,421 million by 2030 at a CAGR of 6.2% over the forecast period of 2022-2030.


Metallic copper combined with one or more additional elements is known as copper alloy. Copper alloy provides superior formability, weld-ability, thermal conductivity, corrosion resistance, and other properties than pure copper, making it stronger by hammering, rolling, and many other processes. For various production and manufacturing uses, copper and its alloys are essential to numerous sectors. Consumer items, transportation, and industrial machinery are some of these.


The characteristics of copper are utilized in several applications, including wires and cables, dynamos, motors, transformers, communication cables, electromagnets, switches, household electrical circuits, and other electronic devices. According to the International Copper Study Group, in 2020, 22,681 short tons of copper content of world mine production was registered. Additionally, the market growth is attributed to the rise in demand for electric vehicles, which require high-purity copper alloys due to their superior electrical conductivity properties. Copper & copper alloy offers good machinability that may be utilized in mass production for a variety of applications in a variety of industries, including the electrical business, the transportation industry, the equipment & metallurgy industry, and others like architecture and arts. However, the development of copper substitutes in the market for various lightweight applications is a major limiting factor.


COVID-19 Analysis


The COVID-19 pandemic caused lockdowns and the suspension of industrial operations worldwide. As a result, numerous nations temporarily stopped producing electronics. In 2021, metal mining, especially copper mining, also slowed down. The copper market was adversely affected by these elements.


Competitive Landscape


Mergers, acquisitions, joint ventures, mergers, collaborations, etc. are on the way along with new product launches and innovation on a global market scale. The rising market competition is an attribution of the developments undertaken by the understated market players:



  • Amari Copper Metals

  • KME Germany GmbH & Co KG, Nexans

  • JX Nippon Mining & Metals Corporations

  • Carl Schlenk AG

  • Global Brass and Copper Holdings, Inc.

  • LAMINERIES MATTHEY

  • Arcotech Ltd., Civen Metal Material Co., Ltd


Market Dynamics


Drivers


Some properties of copper include that it is good electrical conductivity, has excellent thermal conductivity, resistant to corrosion, is highly ductile, recyclable, and has a non-magnetic nature. The electronic applications of copper include wires and cables, dynamos, residential electrical circuits, transformers, electromagnets, switches, motors, communication cables, and much more. The growth of electric vehicles is increasing the demand for the copper and copper alloy market size. Products like foils, stators, rotors, shaft heads, hollow wires, and others like motors are being put to use in electric vehicles with heavy copper.


Restraints


However, since the advent of the coronavirus disease, the lockdown was imposed that has hampered industrial activities across the globe. Because of this, the production of electronics is at a halt in many countries at the global market premises. The mining of metals including copper has slowed down since 2020. These factors are likely to hamper the demand for copper and copper alloys’ market value. The effects are likely to be felt in the forecast period of 2021-2028, as well. But the rising research and development activities might enhance the market chances of growth. 


Technology Analysis


Copper is known to be the third-most-consumed metal in the world premises and is also recognized as a highly electrically conductive element. The electronics segment of the market has a strong relationship with copper and it is being employed for many applications owing to its reliable properties.


Many companies at the global level have shifted to the use of copper by replacing it with aluminum in producing products like robots’ internal parts, high-speed computers, home, and commercial appliances, along with telecommunication applications. The growth of these segments is the maximum in the developing economies that has increased the demand for copper, especially during the forecast period.


Study Objectives



  • The global market report helps in understanding the potential of the market that was restrained due to the lockdown and other external forces that were imposed because of the arrival of the coronavirus pandemic. The report further discusses the market dynamics available like the drivers and restraints that might impact the production and demand and supply of the market during the forecast period.

  • The report also aims to witness the increasing copper and copper alloy market share that is a result of the excellent performance of the market segments and their rising ability to meet the needs of the target audience at a global level.

  • The market report also helps in having a firm understanding of the rising market competition based on the functioning key market players in various regions followed by the recent developments that have been taken in the name of growth and expansion for the market in the forecast period of 2021-2028.


Segment Overview


The copper and copper alloy market trends predict that the market has a fortunate future during the ongoing forecast period of 2022-2030. The rising demand of the distributed target audience in various global locations is giving rise to market segmentation on the following basis:


Based on product type


The global copper and copper alloy market has been segmented based on the product type and includes copper foil, brass foil, bronze foil, and others like copper-nickel foil.


Based on application


The global copper and copper alloy market is segmented based on the market applications and includes construction, electrical & electronics, industrial machinery, consumer goods, amongst others.


Based on the global regions


The global copper and copper alloy market id=s functional in North America, Latin America, European countries, Asia Pacific, along with the Middle East and Africa.


Global Copper & Copper Alloy Market Share, by Application, 2018 (%)  Copper & Copper Alloy Market


Source: MRFR Analysis


Regional Analysis


The Asia-Pacific region is the largest market emerging for the growth of the copper & copper alloy size due to increased demand in the construction sector in the region. This is coupled with the rising awareness amongst the consumers towards the use of portable electronics followed by increasing demand across the APAC region. The developing countries of the region like China, India, Japan, South Korea, amongst the other South-East Asian countries are rising their investment towards construction activities. This is likely to fuel the demand for the copper & copper alloy market and lead to its global expansion during the forecast period ending in 2028. Also, the growing demand for portable electronics is coupling with the rising consumption patterns among consumers.


Recent Developments



  • In June 2022, Aurubis AG announced that they had started the construction of a USD 320 million multi-metal recycling plant in Augusta, Georgia. These include copper cables, printed circuit boards, and other recycling materials containing metals.

  • In May 2021, Glencore announced they would restart the Mutanda copper and cobalt mine operations.

  • In March 2021, Polish miner KGHM announced they plan to divest two US copper mines.


Intended Audience



  • Copper & copper alloy producers and manufacturers

  • Traders, suppliers, retailers, and distributors of copper & copper alloy

  • Research-based firms and development institutes

  • Potential market buyers and investors

  • Raw material suppliers for the production of copper and alloys

  • National laboratories


Report Overview


The report aims to have an in-depth analysis of the functioning of the copper and copper alloy Industry and further, have an idea about whether the growing market trends will help the market grow as per the predictions by the experts and leaders or not. The market report highlights the opportunities that will help the market but some challenges that might restrain the market from growing. Also, the report talks about the rising market competition that will help in adding innovative products and better consumption choices to the target audience.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 566,421 million
¬†¬†CAGR ¬†¬†6.2% (2022‚Äď2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product Type, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Amari Copper Metals, Global Brass and Copper Holdings, Inc., Arcotech Ltd., Civen Metal Material Co., Ltd, JX Nippon Mining & Metals Corporations, Carl Schlenk AG, LAMINERIES MATTHEY, KME Germany GmbH & Co KG, Nexans, and Diehl Stiftung & Co. KG.
  Key Market Opportunities   Increasing demand from the construction and electrical & electronics industries.
  Key Market Drivers   The rapid growth of the electronics industry
 

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Frequently Asked Questions (FAQ) :

Copper & copper alloy market CAGR would be 6.2% during the forecast period.

The electrical & electronics industry would provide high traction to the copper & copper alloy market.

The Asia Pacific region would dominate the copper & copper alloy market.

The players included in the copper & copper alloy market are Global Brass and Copper Holdings, Inc., Amari Copper Metals, Civen Metal Material Co., Ltd, JX Nippon Mining & Metals Corporations, Arcotech Ltd., Nexans, LAMINERIES MATTHEY, KME Germany GmbH & Co KG, Carl Schlenk AG, and Diehl Stiftung & Co. KG.

The applications of the copper & copper alloy market report are industrial machinery, consumer goods, construction, electrical & electronics, and others.