logo

Copper Market Size (2024 - 2029)

The copper market is anticipated to experience significant growth over the forecast period, driven by increasing demand from the construction, electronics, and telecommunication sectors. Despite challenges posed by stringent mining regulations and the impact of the COVID-19 pandemic, the market is poised for expansion, particularly due to the rising demand for electric vehicles. The Asia-Pacific region is expected to lead in growth, fueled by the burgeoning electrical and electronics industries in countries like India and those in the ASEAN.

Home Market Analysis Chemicals & Materials Research Metals and Minerals Research Metals Research Base Metals Research Copper Research Copper Market Market Size

Market Size of Copper Industry

Copper Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 6.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Copper Market Major Players

*Disclaimer: Major Players sorted in no particular order

Copper Market Analysis

During the time frame of the forecast, the copper market is expected to register a CAGR of more than 6%.

The COVID-19 pandemic resulted in lockdowns and shutdowns of industrial activities worldwide. Also, the mining of metals, including copper, slowed down in 2021. These factors negatively impacted the copper market.

  • Increasing demand from the construction, electronics, and telecommunication industries is boosting the market's growth.
  • On the other hand, strict rules about mining could make it harder for the market to grow.
  • Still, the growing demand for electric vehicles is likely to soon give the global market a chance to grow in a good way.
  • During the forecast period, Asia-Pacific is expected to grow the fastest. This is mostly because the electrical and electronics industries in India and ASEAN countries are growing.

Copper Industry Segmentation

Copper is the third-most-consumed metal in the world. It is also known as a highly electrically conductive material. The properties of copper include good electrical conductivity, excellent thermal conductivity, corrosion resistance, high ductility, recyclability, and a non-magnetic nature. The copper market is segmented by end-user industry (automotive and heavy equipment, construction, electrical and electronics, industrial, and other end-user industries). The report also covers the market size and forecast for the market in 15 countries across major regions, in volume (kilo tons).

End-user Industry
Automotive and Heavy Equipment
Construction
Electrical and Electronics
Industrial
Other End-user Industries (Consumer Products, Medical Devices, Etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Rest of Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Copper Market Size Summary

The copper market is poised for significant growth, driven by increasing demand from the construction, electronics, and telecommunications sectors. Despite challenges posed by the COVID-19 pandemic, which led to industrial slowdowns and mining disruptions, the market is expected to recover and expand. The rising demand for electric vehicles is particularly noteworthy, as it presents a substantial opportunity for market growth. Asia-Pacific is anticipated to be the fastest-growing region, fueled by the burgeoning electrical and electronics industries in India and ASEAN countries. The unique properties of copper, such as its conductivity and corrosion resistance, make it indispensable in various applications, including wires, cables, and components in electric vehicles.

The Asia-Pacific region is expected to dominate the global copper market, largely due to China's advanced construction and power generation sectors, along with ongoing investments in telecommunications and electronics. The construction boom in China, driven by increased residential and commercial projects, is a significant factor boosting copper demand. Additionally, the surge in electric vehicle sales in China further fuels the copper market. In India, the growing medical devices sector, which heavily relies on copper, is also contributing to market expansion. The copper market is partially consolidated, with major players like Glencore, BHP, and Codelco holding significant market shares. Recent developments, such as Aurubis AG's expansion in metal recycling and Glencore's plans to restart operations at the Mutanda mine, are expected to influence market dynamics positively.

Explore More

Copper Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand from Electronics and Construction Industry

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Stringent Regulations Associated with Mining

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 End-user Industry

      1. 2.1.1 Automotive and Heavy Equipment

      2. 2.1.2 Construction

      3. 2.1.3 Electrical and Electronics

      4. 2.1.4 Industrial

      5. 2.1.5 Other End-user Industries (Consumer Products, Medical Devices, Etc.)

    2. 2.2 Geography

      1. 2.2.1 Asia-Pacific

        1. 2.2.1.1 China

        2. 2.2.1.2 India

        3. 2.2.1.3 Japan

        4. 2.2.1.4 South Korea

        5. 2.2.1.5 Rest of Asia-Pacific

      2. 2.2.2 North America

        1. 2.2.2.1 United States

        2. 2.2.2.2 Canada

        3. 2.2.2.3 Mexico

      3. 2.2.3 Europe

        1. 2.2.3.1 Germany

        2. 2.2.3.2 United Kingdom

        3. 2.2.3.3 France

        4. 2.2.3.4 Italy

        5. 2.2.3.5 Rest of Europe

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Middle-East and Africa

        1. 2.2.5.1 South Africa

        2. 2.2.5.2 Rest of Middle-East and Africa

Copper Market Size FAQs

The Copper Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Glencore, BHP, Codelco, KGHM and Aurubis AG are the major companies operating in the Copper Market.

Copper Market Report Snapshots

Copper Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)