According to MRFR analysis, the global oxygen-free copper market is expected to reach around16 billion in 2019.
Oxygen-free copper (OFC), also known as oxygen-free high thermal conductivity copper, is a group of wrought copper alloys that are electrolytically refined to reduce the oxygen level to 0.001%. Oxygen-free copper is highly conductive and is widely used in industrial applications,including electrical and electronics, automotive, cryogenic and optical applications, and many more. Oxygen-free copper is a versatile material with outstanding inherent properties such as high electrical and thermal conductivity, high ductility, creep resistance, high impact strength, low relative volatility under high vacuum, and ease of welding. The demand for oxygen-free copper is increasing mainly due to its high demand in the electrical and electronics industry owing to its high electrical and thermal conductivity. It is widely used in electric and electronic applications such as printed circuit boards (PCBs), semiconductors, and superconductors. However, high processing cost and the presence of potential substitutes such as electrolytic tough pitch (ETP) copperarelikely to hamper the growth of the global market. Furthermore, the widening scope of applicationsin various industries and expanding electrical and electronics industry in developing countries areexpected to bring lucrative growth opportunities over the assessment period.
All the factors mentioned above are projected to boost the demand for oxygen-free copperduring the review period.
In 2019, the global average price for oxygen-free copperranged between approximately USD 8.0and USD 9.5 per kilogram. The price of oxygen-free copperis highly influenced by the fluctuating copper prices, high cost of oxygen-free copper processing, and surplus supply and production globally.
Stringent mining regulations
- High demand from electrical and electronics industry
- Increasing sales of electric vehicles
- High oxygen-free copper processing cost
- Oxygen-Free (OF):This segment accounts for the largest market share and is expected to witness the fastest growth during the forecast period. Cu-OF is a 99.95% pure copper with 0.001% oxygen content and a minimum 100% IACS conductivity. It is used in equipment such as magnetometers, electromagnets, and other superconductors.
- Oxygen-Free Electronic (OFE): This segment has witnessed notable growth during the review period. Cu-OFE is a 99.99% pure copper with 0.005% oxygen content and a minimum 101% IACS conductivity.It is one of the most expensive grades of oxygen-free copper.
- Wires: This segment accounted for the highest market share and is expected to witness the fastest growth during the forecast period. This is mainly due to the growing demand for oxygen-free copper wires in diverse end-use industries, including electrical and electronics and automotive, especially because of its high conductive properties.
- Strips:This segment is expected to witness notable growth in the forecast period. Oxygen-free copper strips are widely used in motors of electric-powered vehicles and electrical components.
- Busbars and Rods:It is mainly used in electrical transmission lines, transformers,and interconnecting generators.
- Others:The others segments include products such as tubes, foils, sections, bars, etc.
- Electronics & Electrical:The electronics and electrical segment accounted for the largest market share in terms of volume and value in 2019;this is mainly due to the high usage of oxygen-free copper in electrical and electronic applications such as printed circuit boards (PCBs), semiconductors, and superconductors.
- Automotive: Oxygen-free copper is widely used in spare parts and automotive components. Increasing sales of electric vehicles globally areexpected to drive the growth of this segment throughout the forecast period. This segment is expected to register the highest CAGR in the forecast period.
- Other: The others segments include industries such as medical equipment and devices, power generation, and transportation.
- Asia-Pacific:Asia-Pacific accounted for the largest market sharein the global market and is the fastest-growing regional market. This is mainly attributed to the steep growth of industries such as electrical & electronics and automotive.The growth potential is in emerging economies such as India, China, Singapore, and Thailand.
- Europe:The demand is mainly driven by the established automotive industry, increasing production of electric vehicles,presence of advanced technologyand well-established companies in the region.
- North America:North America recorded significant growth in the global market because of the region's growing automotive and electrical and electronics industry.
- Middle East & Africa:The demand for oxygen-free copperis rising due to the growing automotive trade and demand for electric vehicles.
- Latin America: The Latin American market is projected to witness significantdemand for oxygen-free copperdue to the growing automotive industry in the region, especially in Brazil and Mexico.
- 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.