Low-Carbon Copper Global Market Report 2024 by The Business Research Company | Trafigura Group Pte Ltd.; Jiangxi Copper Corporation; BHP Group; Rio Tinto Plc; Vale S.A.; Zijin Mining Group Co. Ltd.; Glencore Plc; Freeport-McMoRan Inc.

The low-carbon copper market size has grown strongly in recent years. It will grow from $72.22 billion in 2023 to $78.07 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to expanded electrical grids, increased per capita consumption of copper, demand from the aerospace and aviation industry, increased focus on emissions reduction, growth of consumer awareness and demand.

The low-carbon copper market size is expected to see strong growth in the next few years. It will grow to $108.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing demand for copper in energy transition technologies, growing demand for electric vehicles, growing construction sector, investor pressure and ESG considerations, increasing demand for consumer goods. Major trends in the forecast period include technological advancements, integration of renewable energy, emergence of new business models, adoption of 3D printing technology, collaborations.

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Low-Carbon Copper Market Major Segments
The low-carbon copper market covered in this report is segmented -

1) By Product Type: Wires, Plates, Sheets And Strips, Tubes, Bars And Sections, Other Product Types
2) By Technology: Electrowinning, Electrolytic
3) By Source: Recycled Copper, Virgin Copper
4) By End-User: Power Generation and Distribution, Building and Construction, Consumer Electronics, Automotive, Other End-Use Applications

Key Driver - Electric Vehicle Adoption Fuels Growth In The Low-Carbon Copper Market

The increasing adoption of electric vehicles is expected to propel the growth of the low-carbon copper market going forward. An electric vehicle (EV) refers to a vehicle that is powered by one or more electric motors and runs on electrical energy stored in rechargeable batteries or other energy storage devices. The increasing adoption of electric vehicles is due to several factors, including growing interest in sustainable transportation, environmental concerns, and the cost of ownership. Low-carbon copper significantly reduces the lifecycle emissions of electric vehicles, making them more attractive to consumers and more compliant with sustainability. For instance, in July 2023, according to the International Energy Agency, a France-based government agency, sales of electric cars surged in the initial quarter of 2023, with over 2.3 million units sold, marking a 25% uptick compared to the previous year. Projections indicate an estimated 14 million sales by the close of 2023, reflecting a 35% year-over-year surge. Therefore, an increasing adoption of electric vehicles is driving the growth of the low-carbon copper market.

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Prominent Trend - Increasing Focus On Advanced Products In The Low-Carbon Copper Market

Major companies operating in the low-carbon copper market are developing advanced solutions, such as green copper products, to drive revenues in the market. Green copper products refer to copper products that are produced using environmentally sustainable practices with a focus on reducing carbon emissions and promoting eco-friendly manufacturing processes. For instance, in March 2021, Boliden AB, a Sweden-based mining company, launched two green copper products, one sourced from recycled electronic scra*p and the other from reduced-emissions mining, to promote sustainability and reduce its carbon footprint. The new products have carbon dioxide (CO2) emissions that are less than half the average of traditionally mined copper, making them a significant step towards reducing the carbon footprint in the copper industry. These products help reduce customers' carbon footprints while providing sustainable products independent of fossil fuels. This is particularly valuable for industries reliant on sulfuric acid, such as the global fertilizer and wood-based product industries.

Low-Carbon Copper Market Players
Major companies operating in the low-carbon copper market report are Trafigura Group Pte Ltd.; Jiangxi Copper Corporation; BHP Group; Rio Tinto Plc; Vale S.A.; Zijin Mining Group Co. Ltd.; Glencore Plc; Freeport-McMoRan Inc.; Codelco; Aurubis AG; Mitsubishi Materials Corporation; Teck Resources Limited; Newmont Corporation; Sumitomo Metal Mining Co. Ltd.; KGHM Polska Miedź S.A.; Antofagasta Plc; Boliden Group; Taseko Mines Ltd.; Luvata Company Ltd; Elcowire Group; Fedral Metal Co.; ASM Metal Recycling Ltd.; Romco; Midwest PGM Recycling Center; Pan Pacific Copper Co. Ltd.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the low-carbon copper market in 2023. The regions covered in the low-carbon copper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Low-Carbon Copper Market Report Structure
3. Low-Carbon Copper Market Trends And Strategies
4. Low-Carbon Copper Market - Macro Economic Scenario
5. Low-Carbon Copper Market Size And Growth
…..
27. Low-Carbon Copper Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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