PUBLISHER: Market Research Future | PRODUCT CODE: 1677743
PUBLISHER: Market Research Future | PRODUCT CODE: 1677743
Global Copper & Copper Alloy Market Research Report Information by Product Type (Copper Foil, Brass Foil, Bronze Foil, Copper Nickel Foil, and Others), By Application (Construction, Electrical & Electronics, Industrial Machinery, Consumer Goods, and Others) And by Region (North America, Europe, Asia-Pacific, And Rest Of The World) Market Forecast Till 2035
In 2023, the market for copper and copper alloys was estimated to be worth USD 356.61 billion. Throughout the research period, the Copper & Copper Alloy market is anticipated to exhibit a strong compound annual growth rate (CAGR) of 6.2%. Rising demand from the electrical and electronics and construction sectors, as well as the electronics sector's explosive growth, are the causes of this rise. These are the main drivers of market expansion.
The need for copper and copper alloys in the electrical and electronics industry has been greatly fueled by the expanding need for electronic devices, technical developments, and the increased focus on effective energy transmission and storage systems. The market has grown even more because of the move to renewable energy sources like wind and solar. To ensure effective power generation and transmission, these energy systems need a significant amount of copper.
Furthermore, the need for copper and copper alloys for a variety of components, such as wiring harnesses, motors, and battery systems, has increased due to the growing popularity of electric vehicles (EVs). Copper is becoming more and more necessary in the production of EVs as the globe shifts to more environmentally friendly modes of transportation. The market CAGR has also been influenced by the widespread usage of copper wire and connectors.
Perspectives on Market Segments
Copper foil, brass foil, bronze foil, copper nickel foil, and other types are included in the Copper & Copper Alloy market segmentation according to product type.
Construction, electrical and electronics, industrial machinery, consumer products, and other industries are included in the application-based market segmentation for copper and copper alloy.
Regional Perspectives
North America, Europe, Asia-Pacific, and the rest of the world are among the areas in which the Copper & Copper Alloy market is examined in this report. Because of the growing demand for electronic goods as well as the increased production and sales of vehicles, the North American market for copper and copper alloys will dominate.
Due in large part to the region's automobile and electrical industries, the copper and copper alloy market in Europe holds the second-highest market share. In addition, the UK copper and copper alloy market grew at the highest rate in the European Region, while the German copper and copper alloy market held the largest market share.
From 2023 to 2032, the Asia-Pacific Copper & Copper Alloy Market is anticipated to expand at the fastest rate. This is a result of the region's quick infrastructure development, urbanization, and industry. Additionally, India's copper and copper alloy market grew at the quickest rate in the Asia-Pacific area, while China's market share was the greatest.
Amari Copper Metals, KME Germany GmbH & Co KG, Nexans, JX Nippon Mining & Metals Corporations, Carl Schlenk AG, Brass and Copper Holdings, Inc., LAMINERIES MATTHEY, Arcotech Ltd., and Civen Metal Material Co., Ltd. are important companies in the copper and copper alloy market.