Copper Market to Observe Surprising Growth USD 453756.06 Million by 2029 with Key Players Anglo American (U.K.), Antofagasta Plc (U.K.)

Copper Market Industry Report assists readers in obtaining useful information and in promoting their growth. The report covers a thorough study conducted through an overall analysis of the industry. It provides an overview of industries, market dynamics, competitive scenarios in all major industries, and important trends within each industry. Furthermore, the report includes key market status statistics, key trends, and potential opportunities for market growth for leading market players.

Copper is a chemical element which has 29 atomic number with symbol Cu. Copper chemical element is reddish in colour and extremely ductile metal of Group 11 (Ib) of the periodic table. It is an unusually good conductor of heat and electricity. Copper is found in the native state in nature. It is a soft, malleable metal with very high electrical and thermal conductivity. The surface of the pure copper has a pinkish-orange colour.

Top Key players in Global Copper Market Report:

Anglo American (U.K.), Antofagasta Plc (U.K.), BHP (Australia), Codelco (Chile), First Quantum Minerals Ltd. (Canada), Grupo México (Mexico), Jiangxi Copper Co. Ltd. (China), JX Nippon Mining & Metals Corpation (Japan), KGHM (Poland), KME GERMANY GMBH (Germany), Mitsubishi Materials Corporation (Japan), Mitsui Mining & Smelting Co. Ltd. (Japan), Norilsk Nickel (Russia), OM Group Inc. (U.S.), Rio Tinto (U.K.), Sumitomo Metal Mining Co., Ltd. (Japan), Teck Resources Limited (Canada), UMMC Holding Corp. (Russia), Vale (Brazil)

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COVID-19 Impact on Copper Market

The COVID-19 pandemic resulted in shutdowns and lockdowns of industrial activities worldwide. Due to this pandemic, electronics production was halted temporarily in several countries. Moreover, the mining of metals, including copper, slowed down during pandemic. These factors hampered the growth of the copper market. Copper is considered as an essential element of the economic growth globally so the Increase in the cost of copper is the indication that the global economy is recovering from the COVID-19 disruption.

Recent Development

In May 2021, Glencore announced its plans to restart their operations at the cobalt mine and Mutanda copper in 2022. The restarted operations from Mutanda could help the company ease the shortages in the cobalt and copper markets, which are potentially capping further price gains.

In November 2021, Aurubis AG further has expanded their activities in recycling metal-bearing materials globally. It started construction of a multimetal recycling plant in US. Copper cable, Circuit boards, and other recycling materials covering metals will be processed into 35,000 ton of blister copper annually.

Market Analysis and Size

Copper is one of the few metals which can occur in nature in a native form or directly usable metallic form. This led to very initial human use in numerous regions, from circa 8000 BC. Thousands of years later, it was the first metal which had smelted from sulfide ores, circa 5000 BC; this was the first metal to be cast into a shape in a mold, c. 4000 BC; and also the first metal to be knowingly alloyed with another metal such as tin to create bronze, c. 3500 BC. Copper is used as a conductor, and it is also a constituent of many metal alloys, such as cupronickel used to make marine hardware and coins, sterling silver used, which is used in jewelry, and constantan used in thermocouples and strain gauges for temperature measurement.

Data Bridge Market Research analyses that the copper market was valued at USD 304790.00 million in 2021 and is expected to reach USD 453756.06 million by 2029, registering a CAGR of 5.10% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

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Copper Market: Segmentation

The copper market is segmented on the basis type, form and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Primary Copper
Secondary Copper
Form

Wire Rods
Plates
Sheets and Strips
Tubes
Bars and Sections
Others
Application

Construction
Transportation
Appliances and Electronic
Power Generations
Distribution and Transmission

The Copper market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the Copper market.

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Copper Market Dynamics

Drivers

Growth and expansion influenced the market growth

Growth and development of buildings and construction industry has encouraged the demand of copper which has the major reason for the direct and indirect growth of the copper market. In other words, growing number of renovation and remodelling activities, increasing rate of urbanization and rising infrastructural development of backward and rural areas is directly influencing the market growth rate.
Important mineral for human health
Copper is an essential mineral which the consumer take into the body when they eat some types of fruit, seafood, nuts, veggies, and other foods. Copper is essential mineral for growth and overall health. Copper plays an important part in the body's organs and systems which helps to make red blood cells, keep nerve cells healthy, and support your immune system and others. The rising demand in electronic sector are expected to drive the coper market.

Rising demand in electronic sector

Copper is a main element of superconductors that makes all high-end electronics possible. It is possessing absolutely zero resistance to electricity. Copper has higher electrical or thermal conductivity than silver, these features make copper essential in electrical manufacturing. This includes electromagnets, semiconductors, heat sinks, electrical wiring, heating elements, microchips and welding electrodes.

Opportunities

Rise the demand in gross domestic product
Copper added to the gross domestic product in both emerging and advanced nations that has more increase its influence overall the globe. Drilling, Reusable copper, and its transmutation into the concocted mineral create an assortment of commodities that have formulated a comprehensive amount of employment. The necessity of copper for plugs, composing valves, pipes, and fixtures has extended germination in this market.

Furthermore, the burgeoning command for copper is expected to coincide with tunnelling technology, and the development of novel copper resource is anticipated to create beneficial market growth opportunities.

Restraints/Challenges

Fluctuating prices

The major factors that will affect the copper market are the prices, which include supply, demand, pressure and current stockpiles already in place. So, the volatility and Fluctuations in the prices of raw materials is imposing a major issues for the growth of the market. Further, availability of raw materials at one specific location is also demeaning the growth of the copper market.

Browse More Reports

Global Oxygen-Free Copper Market, By Grade (Copper Oxygen-free Electronic (Cu-OFE), Copper Oxygen-free (Cu-OF)), Product (Wire, Strips, Rods, Busbars, Others), Industry (Electronics & Electrical, Automotive), Industry Trends and Forecast to 2028.- https://www.databridgemarketresearch.com/reports/global-oxygen-free-copper-market

Global Copper Pipes and Tubes Market, By Type (Copper Pipes, Copper Tubes), Finish Type (LWC Grooved, Straight Length, Pan Cake, LWC Plain), Outer Diameter (3/8, 1/2, 5/8 Inch, 3/4, 7/8, 1 Inch, Above 1 Inch), Application (HVAC and Refrigeration, Industrial Heat-Exchange Equipment, Plumbing, Others) - Industry Trends and Forecast to 2029 -
https://www.databridgemarketresearch.com/reports/global-copper-pipes-and-tubes-market

Global Copper Azoles Market, By Product Type (Micronized Copper CA-C, Dissolved Copper MCA-C), Application (Decking, Landscape, Railroad, Utility Poles, Others), End-Use (Agriculture, Commercial, Residential), Industry Trends and Forecast to 2028 https://www.databridgemarketresearch.com/reports/global-copper-azoles-market

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