Copper Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players | Glencore PLC, BHP Billiton, Rio Tinto Group, Vale S.A., Zijin Mining Group Co. Ltd.

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Copper Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The copper market size has grown strongly in recent years. It will grow from $166.25 billion in 2023 to $179.84 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to electrical and electronics industry, construction sector, industrial machinery manufacturing, automotive manufacturing, infrastructure development.

The copper market size is expected to see strong growth in the next few years. It will grow to $240.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to renewable energy transition, electric vehicles (evs) demand, urbanization and construction growth, 5g network expansion, global economic recovery. Major trends in the forecast period include copper in antimicrobial applications, supply chain resilience and diversification, copper recycling initiatives, copper alloy innovations, copper price volatility and market speculation.

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Key Market Players:
Major companies operating in the copper market report are Glencore plc, BHP Billiton, Rio Tinto Group, Vale S.A., Zijin Mining Group Co. Ltd., Tongling Nonferrous Metals Group Co. Ltd., Freeport-McMoRan Inc., Codelco, MMC Norilsk Nickel PJSC, Grupo México, Teck Resources Ltd., Newmont Corporation, Southern Copper Corporation, First Quantum Minerals Ltd., Antofagasta plc, Seacube Containers LLC, Jiangxi Copper Co. Ltd., Lundin Mining Corporation, Kaz Minerals PLC, TRITON International Ltd., Hudbay Minerals Inc., Capstone Copper Corp., KGHM Polska Miedz S.A., CAI International Inc., Textainer Group Inc., Seaco Global Holdings Corp., Ero Copper Corp., Copper Mountain Mining Corporation, Florens Containers Inc., Beacon Intermodal Group LLC, Sumitomo Metal Mining Co. Ltd., Boliden AB

Market Drivers:
The growth in the copper market is due to increasing construction projects in rapidly developing countries such as China and India owing to the rising population and infrastructure. Population refers to the whole number of people or inhabitants in a country or region. Copper minerals and ores are found in both igneous and sedimentary rocks. For instance, In June 2022, according to Worldometer, a US-based reference website that provides counters and real-time statistics for diverse topics, The current population of China is 1,450,341,718. Therefore, the rising population is driving the growth of the copper market.

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The copper market covered in this report is segmented -
1) By Type: Refining Industry, Metal Processing Industry, Chemical Industry, and Other Types
2) By Mining Type: Underground Mining, Surface Mining

The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?

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