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Copper Market is expected to register a growth of CAGR 4.6% during 2026

Copper Market is expected to register a growth of CAGR 4.6% during

The global copper market is highly concentrated with just few prominent players in the market. However, there are several small players in the market, making it to be a highly competitive market, says Transparency Market Research (TMR) report.

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An increasing number of laying of electrical poles across cities and rural areas are expected to boost the demand in the global copper market. The global copper market is expected to register a growth of CAGR 4.6% during the forecast period 2018 to 2026. Simultaneously, the global copper market is estimated to reach the valuation of US$ 221.6bn by the end of 2026.

In terms of geography, the Asia Pacific is projected to rule over the global copper market during the forecast period. The growth in this region can be attributed to increasing demand from automotive, appliances, and construction sectors. On application basis, the global copper market is segmented into construction, power generation, appliances and electronics, transportation, and distribution and transmission. Of these, the global copper market is predicted to be dominated by the construction sector during the forecast period.

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Construction Sector to be the Pillar for Global Copper Market

The global copper market is largely driven by the construction sector. Rapid urbanization and increasing number of commercial, industrial, and residential constructions will supposedly create a huge demand for the copper. This factor is expected to bolster the expansion of the global copper market during the forecast period. Alternatively, rising consumer preference for appliances such as induction gas, water heaters, utensils, etc. And electronic goods are expected to propel the global copper market in the upcoming years.

Furthermore, there is a high demand for valves, plumbing, and electrical fittings are projected to augment the global copper market to expand in the upcoming years. This trend is projected to continue throughout the forecast period. Hence, the global copper market is anticipated to expand in the coming years.

Automotive Industry to Provide Impetus to Growth

Copper is widely being used in automotive sector. This is said to be the second largest industry that provides a huge market for copper. This provides an array of growth opportunities to the global copper market in the upcoming years. Additionally, in the upcoming years there are possibilities of electric vehicles taking over the automotive market. Hence, the global copper market is expected to see a healthy growth during the forecast period. Copper has many properties such as anti-corrosion, ductility, and enhanced strength that makes it as a viable product for industrial equipment, power cables, and wires. Such properties increases the demand for copper and paves way for the global copper market to grow during the forecast period. Moreover mining industry is also predicted to provide growth opportunities to the global copper market during the forecast period.

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Copper prices are stagnant due to economic conditions such as GDP, financial index, and Sensex. Price stagnancy may slow down the global the global cooper market.

However, the development in the field of copper market is anticipated to be playing a key role in the growth of the global copper market. New copper applications are expected to have properties such as copper touch surfaces, antimicrobial properties, lead free brass plumbing, heat exchangers, and high tech copper wires. Such factors are expected to drive the global copper market during the forecast period.

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Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

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