According to the latest research report, the global Oxygen-Free Copper Market is projected to be worth USD 32 billion by 2030, registering a CAGR of 6.1% during the forecast period (2021 - 2030), The market was valued at USD 19.25 billion in 2020.
Oxygen-free copper (OFC), also called oxygen-free electrical conductivity copper, is a class of hammered copper alloys that have been electrolytically refined to have an oxygen content of less than 0.001%. Oxygen-free copper is extremely magnetic and is widely utilized in industrial applications such as electrical and semiconductors, automotive, thermal and optical, and many more. Oxygen-free copper is a unique tool with exceptional intrinsic qualities such as excellent thermal and electrical conductivity, flexibility, fatigue strength, compressive strength, relatively low instability at vacuum chamber, and ease of soldering.
Oxygen-free copper is becoming more popular, owing to its excellent thermal and electrical conductivity in the electrical and electronics industries. It's often utilized in electric and electronic applications including printed circuit boards (PCBs), semiconductors, and superconductors, these factors are likely to drive the growth of the global oxygen-free copper market. However, high processing costs and the emergence of viable replacements such as electrolytic tough pitches (ETP) copper are expected to stymie worldwide market expansion. Furthermore, the rising spectrum of applications in numerous sectors and the rising electrical and electronics sectors in emerging nations are likely to provide attractive growth possibilities over the assessment period.
This report contains all the information on the global oxygen-free copper market research and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global oxygen-free copper market analysis and market forecast for 2030 is also included in the report.
Covid 19 Analysis
The high cost of copper and the global epidemic of coronavirus are anticipated to stymie the expansion of the studied market.
The rising electrical & computer production globally is a critical element driving market expansion, as is expanding product demand in the automotive sector, expanding need for elevated materials in the aerospace, military, and automotive sector, and the advancement of electronics, environmental concerns, and booming e-commerce in China and India, resulting in a strong demand for electronic products, are among the primary reasons driving the oxygen-free copper market.
Growing market R&D efforts, as well as rising modernization and technical developments in manufacturing processes, will generate new opportunities for the oxygen-free copper market during the projected period of 2021-2028.
The rising cost of copper and the increasing availability of electrolytic tough pitch (ETP) copper as an alternative are among the primary factors acting as constraints during the projection period.
The variable price of copper will further challenge the expansion of the oxygen-free copper market during the projection period.
Cumulative Growth Analysis
The consumer technology sector was valued at over USD 1 trillion in 2019 and is predicted to increase at a rate of more than 7% between 2020 and 2026. Rising buying power and demographic changes are projected to fuel the consumer electronics market even more. Copper materials that do not contain oxygen are commonly employed in elevated compatible devices. The rapid growth of internet connectivity services in emerging nations, as well as the adoption of high-end audio equipment, is driving the oxygen-free copper industry.
Value Chain Analysis
According to the reports, the global oxygen-free copper market is segmented into grade, product, end-user, and region. On the basis of grade, the global market is further distributed into oxygen-free (OF) and oxygen-free electronics (OFE). The oxygen-free (OF) segment has the biggest oxygen-free copper market share and is predicted to expand the quickest over the projected period. Cu-OF is a 99.95 percent pure copper with 0.001 percent oxygen content and a minimal IACS conductance of 100 percent. It is found in magnetometers, electrostatic, and other superconductors. During the study period, the oxygen-free electronic (OFE) segment grew significantly. Cu-OFE is a 99.99 percent pure copper alloy with 0.005% oxygen concentration and a minimal IACS conductivity of 101 percent. It is one of the most costly oxygen-free copper grades. On the basis of product, the global market is further segmented into wires, strips, busbars and rods, and others. The wire segment had the most market share and it is predicted to increase at the quickest rate during the projected period. This is mostly due to the increasing demand for oxygen-free copper cables in a variety of end-use sectors, including electrical & electronics engineering, as well as automotive, due to its strong conductive qualities. Strips are predicted to expand significantly throughout the predicted period. Oxygen-free copper strips are commonly utilized in electric car motors and electronic systems. Busbars and rods are mostly utilized in transmission lines, transformers, and linking generators.
On the basis of end-users, the global oxygen-free copper market is divided into electronics & electrical, automotive, and others. In terms of volume and value, the electronics and electrical category accounted for the biggest market share in 2019; this is primarily due to the widespread use of oxygen-free copper in electrical & mechanical applications such as printed circuit boards (PCBs), semiconductors, and superconductors. Oxygen-free copper is frequently utilized in automobile spare parts and components. Increasing worldwide sales of electric cars are predicted to boost the automotive segment's overall growth throughout the predicted period. During the projection period, this category is predicted to have the greatest CAGR. Other sectors include medical equipment and gadgets, electricity generation, and transport.
The market is segmented on the basis of the grade, product, end-user, and region. The global oxygen-free copper market is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into wires, strips, busbars and rods, and others.
Based on the propulsion types, the market is segmented into electronics & electrical, automotive, and others.
According to the reports, on the basis of region, the global oxygen-free copper market is segmented into Asia-pacific, Europe, North America, the middle east & Asia, and Latin America. The Pacific region has the biggest market share in the worldwide industry and is the world's fastest-growing market. This is mostly due to the rapid rise of industries such as electrical and electronics and automotive. Developing markets such as India, China, Singapore, and Thailand have significant development potential. The established automotive sector, increased production of electric cars, the existence of technological superiority, and well-established corporations in Europe are primarily driving demand for an oxygen-free copper market in this region. Because of the North American region's expanding automotive and electrical and electronics industries, North America experienced substantial growth in the worldwide market. The expanding automotive sector and demand for electric vehicles in the Middle East and Africa are driving up demand for the market in this region. The rising automotive sector in the area, particularly in Brazil and Mexico, is expected to drive substantial demand for the oxygen-free copper market in the Latin American market.
Various businesses are concentrating on organic growth tactics such as new launches, selection of suitable and other things like copyrights and activities. Acquisitions, partnerships, and collaborations were among the business expansion tactics observed in the industry. These initiatives have opened the road for market participants to expand their business and client base. With the increased demand for oxygen-free copper in the worldwide market, market participants in the oxygen-free copper market are expected to benefit from attractive growth prospects in the upcoming years.
The following report comprises of –
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, End-users and Region|
|Geographies Covered||North America, South America, Europe, Asia-Pacific, Middle-East, and Africa.|
|Key Vendors||Hitachi Metals Neomaterials Ltd., Mitsubishi Materials Corporation, Aviva Metals, Sam Dong, Copper Braid Products, Farmer's Copper Ltd., Heyco Metals Inc., Haviland Enterprises Inc., Millard Wire & Specialty Strip Co., Hussey Copper Ltd.|
|Key Market Opportunities||Growing market R&D efforts, as well as rising modernization and technical developments in manufacturing processes, will generate new opportunities for the market|
|Key Market Drivers||The rising electrical & computer production globally is a critical element driving market expansion|
Oxygen-Free Copper Market is predicted to grow at 6.1% through forecast period of 2020-2027.
The forecast period for Oxygen-Free Copper Market research report is 2020-2027.
Oxygen-Free Copper Market is dominated by APAC region.
The major players are Hitachi Metals Neomaterials Ltd., Mitsubishi Materials Corporation, Aviva Metals, Sam Dong, Copper Braid Products, Farmer's Copper Ltd., Heyco Metals Inc., Haviland Enterprises Inc., Millard Wire & Specialty Strip Co., Hussey Copper Ltd.