NEW YORK, May 08, 2023 (GLOBE NEWSWIRE) — IndexBox, a leading market research firm, has published a new comprehensive report on the global refined copper market, providing valuable insights, analysis, and forecasts until 2030. The report is available for purchase on their website, with a link to the store: https://www.indexbox.io For a limited time, trial access to market data is available on the IndexBox platform.
According to the report, the global refined copper market is projected to experience significant growth from 2021 to 2030, driven by a combination of factors. Key growth drivers include increasing urbanization, rapid industrialization, and advancements in the renewable energy sector. However, the market also faces challenges such as fluctuations in raw material prices and stringent environmental regulations.
Demand for refined copper is influenced by various factors, including global economic conditions, technological advancements, and the growth of the major consuming industries. The report highlights that the electrical and electronics, construction, and automotive industries are the primary consumers of refined copper. As these industries expand, they will continue to drive the demand for refined copper globally.
The global refined copper market can be segmented based on the form, end-user industry, and region.
Form:
a. Cathodes
b. Wire rods
c. Plates, sheets, and strips
d. Tubes and pipes
e. Other forms (powders, granules, etc.)
End-User Industry:
a. Electrical and electronics
b. Construction
c. Automotive
d. Renewable energy
e. Industrial machinery and equipment
f. Others (defense, aerospace, etc.)
Region:
a. Asia-Pacific
b. North America
c. Europe
d. Latin America
e. Middle East and Africa
End-User Industry Analysis:
Refined copper plays a vital role in various industries, as it is an essential material with high thermal and electrical conductivity.
a. Electrical and Electronics: Copper is widely used in the production of cables, wires, and electrical components due to its excellent electrical conductivity. The growth of this sector, driven by increasing urbanization and technological advancements, contributes to the demand for refined copper.
b. Construction: The construction industry is another significant consumer of refined copper, as it is used in plumbing, roofing, and cladding applications. Increasing construction activities, particularly in developing countries, will drive the demand for refined copper in this sector.
c. Automotive: Refined copper is used in the manufacturing of vehicles, particularly in wiring harnesses, electrical systems, and heat exchangers. The growth of the automotive industry, including the shift towards electric vehicles, will further increase the demand for refined copper.
d. Renewable Energy: Copper is an essential material in the renewable energy sector, particularly in solar panels and wind turbines. As the world shifts towards sustainable energy sources, the demand for refined copper in this industry is expected to grow significantly.
e. Industrial Machinery and Equipment: Refined copper is used in various machinery and equipment due to its corrosion resistance and thermal conductivity. The growth of industrial activities will contribute to the demand for refined copper in this sector.
Regional Analysis:
The refined copper market can be analyzed across five major regions:
a. Asia-Pacific: This region is the largest market for refined copper, led by China and India. Rapid industrialization, urbanization, and the growth of major end-user industries are driving the demand for refined copper in the Asia-Pacific region.
b. North America: The North American market, particularly the United States, is a significant consumer of refined copper. The region’s growth is driven by advancements in technology, the renewable energy sector, and the expansion of end-user industries.
c. Europe: Europe is another substantial market for refined copper, with a strong focus on renewable energy and technological advancements. The automotive sector, particularly electric vehicles, is expected to contribute significantly to the demand for refined copper in this region.
d. Latin America: This region, led by Brazil and Mexico, is anticipated to experience steady growth in refined copper demand, driven by the expansion of end-user industries and increasing investments in infrastructure development.
e. Middle East and Africa: The demand for refined copper in this region is driven by investments in infrastructure development, particularly in the construction and energy sectors.
The top 10 largest manufacturers in the industry, according to the report, include:
Codelco (Chile)
Freeport-McMoRan (USA)
BHP Billiton (Australia)
Glencore (Switzerland)
Southern Copper Corporation (Mexico)
KGHM Polska Miedź (Poland)
Antofagasta (Chile)
China Minmetals Corporation (China)
Sumitomo Metal Mining (Japan)
Jiangxi Copper Corporation (China)
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Keywords: Refined Copper, Copper Market, Market Research, Market Forecast, IndexBox