Press release
Copper Piece Market Poised for Significant Growth by 2030
Copper Scrap Market
The global copper Piece market is on a robust growth trajectory, projected to expand from USD 65.09 billion in 2023 to USD 105.90 billion by 2030, reflecting a compound annual growth rate (CAGR) of 8.6% during the forecast period. This surge is driven by increasing industrial applications, infrastructure development, and a heightened focus on sustainable practices.
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● Competitive Landscape
The market features prominent players such as Glencore, Aurubis, Omnisource LLC, and CMC, who are investing in advanced recycling technologies and expanding their operational capacities to meet the growing demand for recycled copper.
● Regional Demand Highlights
Asia-Pacific: Leading the market due to rapid industrialization and urbanization, with significant contributions from countries like China and India.
North America: Experiencing growth driven by the rising adoption of electric vehicles and renewable energy projects, both of which require substantial copper usage.
Europe: Anticipated to reach USD 22.88 billion by 2030, with a CAGR of 6.6%, driven by stringent environmental regulations and a strong emphasis on recycling.
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● Country-Specific Developments
Vietnam: Emerging Opportunities in Copper Piece Recycling
Vietnam's burgeoning manufacturing sector and export-driven economy are increasing the demand for recycled copper, presenting opportunities for investment in modern recycling facilities.
Thailand: Trends and Growth in Copper Piece Utilization
Thailand's automotive and electronics industries are major consumers of recycled copper, with government initiatives promoting sustainable practices further boosting the market.
Japan: Consolidation and Technological Updation in Recycling
Japan's advanced technological landscape is fostering innovations in copper recycling processes, with companies consolidating to enhance efficiency and competitiveness.
South Korea: Growth and Innovation in Copper Piece Processing
South Korea is witnessing growth in copper Piece processing, driven by its robust electronics industry and initiatives to reduce reliance on imported raw materials.
Singapore: Opportunities and Trends in Copper Recycling
Singapore's strategic location and focus on sustainable urban development are creating opportunities in copper recycling, with trends leaning towards smart and green technologies.
United States: Consolidation and Expansion in Copper Piece Market
The U.S. market, valued at USD 661.3 million in 2022, is expected to grow at a CAGR of 4.5% to reach USD 942.9 million by 2030, driven by the electrification of vehicles and infrastructure investments.
China: Developments and Trends in Copper Piece Industry
China remains a dominant player, with its extensive manufacturing base and policies encouraging recycling to meet the high demand for copper in various industries.
Europe: Updation and Integration in Copper Recycling Technologies
Europe is focusing on updating recycling technologies and integrating circular economy principles, with countries like Germany and Spain leading in copper Piece utilization.
● Copper Piece Market Segment
by Application
Wire Rod Mills
Brass Mills
Ingot Makers
Foundries
Other
by End Use
Industry Construction
Electrical and Electronics
Automotive
Machinery and Equipment
Renewable Energy
Other
● Copper Piece Key Players
1. Aurubis
2. Commercial Metals
3. Sims Limited
4. HKS Metals
5. Jansen Recycling Group
6. Kuusakoski
7. Enerpat Group
8. European Metal Recycling
9. Olin Brass
10. OmniSource Corporation
11. Trademark Metals Recycling LLC
12. Mallin Companies
13. David J. Joseph
14. Mid-West Recycling
15. American Metal Recycling
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/copper-Piece-market/199960/
● Key Recent Developments
The industry is witnessing significant advancements, including the integration of artificial intelligence to enhance production efficiency and reduce costs. Additionally, there is a growing emphasis on sustainable practices, with companies investing in eco-friendly production methods and products to meet evolving consumer preferences.
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