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TMR Analyzes Impact of Outbreak of COVID-19 on Developing Trends in Recycled Copper industry
Developing Trends in Recycled Copper industry
The supply and demand for recycled copper have severely suffered during the COVID-19 pandemic. The corresponding downturn in the global manufacturing sector has further affected the growth of the recycled copper market. As such, U.S.-based recycling organizations are conducting a series of online events to assess the demand and supply of copper in upcoming months. With the help of virtual events, companies in the recycled copper market are gaining ideas of buoyancy to continue business in a slow growing market.
Recycling organizations have high hopes for the introduction of vaccines or intermediary antidotes to maintain business continuity and restore confidence of workers at manufacturing facilities. However, it has been found that the demand for recycled copper is gradually plummeting in the automotive sector. As such, recycling companies are maintaining steady supple chains to avoid supply shocks in crucial applications industries such as in electronics and wiring industries.
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Decline in CO2 Emissions Boosts Popularity of Recycled Copper in Electronics
Recycled copper is gaining popularity, owing to its cost efficiency since the production process consumes much less energy. Wiring and electrical applications are the key focus point for companies in the recycled copper market, since recycled copper retains its electrical conductivity. It has been found that recycled copper helped to increase energy efficiencies in many power systems. Moreover, copper recycling process consumes much less energy as compared to copper’s primary production. Hence, apart from electronics, manufacturers in the recycled copper market are exploring value-grab opportunities in the industrial machinery and equipment sector to broaden their revenue streams.
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