PUBLISHER: The Business Research Company | PRODUCT CODE: 1499878
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499878
Low-carbon copper denotes a variety of copper material manufactured with a significantly reduced carbon footprint compared to industry norms, achieved through the adoption of more sustainable and energy-efficient practices across the entire production lifecycle, spanning extraction to refinement.
Key types of low-carbon copper products include wires, plates, sheets, strips, tubes, bars, sections, and others. Wires, for instance, are conductive materials, typically copper or aluminum, utilized in electrical or electronic systems to transmit data, signals, or electricity between different locations. Various technologies, such as electrowinning and electrolytic processes, are employed, sourcing materials from recycled copper or virgin copper. These products find applications across multiple end-user industries, including power generation and distribution, building and construction, consumer electronics, automotive, among others.
The low-carbon copper market research report is one of a series of new reports from The Business Research Company that provides low-carbon copper market statistics, including low-carbon copper industry global market size, regional shares, competitors with a low-carbon copper market share, detailed low-carbon copper market segments, market trends, and opportunities, and any further data you may need to thrive in the low-carbon copper industry. This low-carbon copper market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion observed during the historical period can be attributed to several factors, including the expansion of electrical grids, heightened per capita consumption of copper, demand from the aerospace and aviation industry, increased emphasis on emissions reduction initiatives, and the growth of consumer awareness and demand for sustainable products.
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 anticipated growth in the forecast period can be attributed to several key factors, including the rising demand for copper in energy transition technologies, the increasing adoption of electric vehicles, growth in the construction sector, mounting investor pressure and considerations related to environmental, social, and governance (ESG) criteria, and the expanding demand for consumer goods. Major trends expected during this period encompass technological advancements in copper production and usage, the integration of renewable energy sources into copper-related processes, the emergence of new business models to address evolving market needs, the adoption of 3D printing technology for copper fabrication, and increased collaborations among industry players to drive innovation and meet growing demand.
The growth of the low-carbon copper market is anticipated to be driven by the increasing adoption of electric vehicles (EVs). Electric vehicles are powered by electric motors and operate using energy stored in rechargeable batteries or other storage devices. The rising popularity of EVs is attributed to factors such as the growing interest in sustainable transportation, environmental concerns, and cost-effective ownership. Low-carbon copper plays a significant role in reducing the lifecycle emissions of EVs, making them more appealing to consumers and aligning with sustainability goals. For instance, data from July 2023 by the International Energy Agency reveals a surge in electric car sales in the first quarter of 2023, with over 2.3 million units sold, marking a 25% increase from the previous year. Projections indicate an estimated 14 million sales by the end of 2023, demonstrating a 35% year-over-year surge and highlighting the impact of EV adoption on the low-carbon copper market.
Key players in the low-carbon copper market are focusing on developing advanced solutions, such as green copper products, to drive market growth and revenue. Green copper products are manufactured using environmentally sustainable practices aimed at reducing carbon emissions and promoting eco-friendly manufacturing processes. For example, in March 2021, Boliden AB, a Sweden-based mining company, introduced two green copper products-one sourced from recycled electronic scrap and the other from reduced-emissions mining-to promote sustainability and lower its carbon footprint. These products have significantly reduced carbon dioxide (CO2) emissions compared to traditionally mined copper, making them a crucial step towards reducing the carbon footprint in the copper industry. Additionally, these products cater to industries reliant on sulfuric acid, such as the global fertilizer and wood-based product sectors, by offering sustainable alternatives independent of fossil fuels.
In December 2022, ABB, a Switzerland-based automation company, entered into a partnership with Boliden to reduce greenhouse gas emissions and promote a transition to a circular economy using Boliden's certified recycled and low-carbon copper. This collaboration aligns with ABB's sustainability strategy, which focuses on reducing the environmental impact of its products and driving innovations that accelerate industrial transformation. Boliden AB, a Sweden-based company specializing in low-carbon copper manufacturing, plays a vital role in this partnership by supplying environmentally friendly copper solutions to support sustainable initiatives in various industries.
Major companies operating in the low-carbon copper market 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 Miedz 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.
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 countries covered in the low-carbon copper market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The low-carbon copper market consists of revenues earned by entities by providing services such as production, supply of recycled copper products, and development. The market value includes the value of related goods sold by the service provider or included within the service offering. The low-carbon copper market also includes sales of copper powders, alloys, and copper products from recycled materials. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Low-Carbon Copper Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on low-carbon copper market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for low-carbon copper? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The low-carbon copper market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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