copper market value is anticipated to reach USD 453756.06 million by 2029

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copper market was valued at USD 304790.00 million in 2021 and is expected to reach USD 453756.06 million by 2029

Copper is one of the few metals which can occur in nature in a native form or directly usable metallic form. This led to very initial human use in numerous regions, from circa 8000 BC. Thousands of years later, it was the first metal which had smelted from sulfide ores, circa 5000 BC; this was the first metal to be cast into a shape in a mold, c. 4000 BC; and also the first metal to be knowingly alloyed with another metal such as tin to create bronze, c. 3500 BC. Copper is used as a conductor, and it is also a constituent of many metal alloys, such as cupronickel used to make marine hardware and coins, sterling silver used, which is used in jewelry, and constantan used in thermocouples and strain gauges for temperature measurement.

Data Bridge Market Research analyses that the copper market was valued at USD 304790.00 million in 2021 and is expected to reach USD 453756.06 million by 2029, registering a CAGR of 5.10% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

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Market Definition

Copper is a chemical element which has 29 atomic number with  symbol Cu. Copper chemical element is reddish in colour and extremely ductile metal of Group 11 (Ib) of the periodic table. It is an unusually good conductor of heat and electricity. Copper is found in the native state in nature. It is a soft, malleable metal with very high electrical and  thermal  conductivity. The surface of the pure copper has a pinkish-orange colour.

Global Copper Market Scope

The copper market is segmented on the basis type, form and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Primary Copper
  • Secondary Copper

Form

  • Wire Rods
  • Plates
  • Sheets and Strips
  • Tubes
  • Bars and Sections
  • Others

 Application

  • Construction
  • Transportation
  • Appliances and Electronic
  • Power Generations
  • Distribution and Transmission
  • Others

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Copper Market Dynamics

Drivers

  • Growth and expansion influenced the market growth

Growth and development of buildings and construction industry has encouraged the demand of copper which has the major reason for the direct and indirect growth of the copper market. In other words, growing number of renovation and remodelling activities, increasing rate of urbanization and rising infrastructural development of backward and rural areas is directly influencing the market growth rate.  

  • Important mineral for human health

Copper is  an essential mineral which the consumer take into the body when they eat some types of fruit, seafood, nuts, veggies, and other foods. Copper is essential mineral for growth and overall health. Copper plays an important part in the body's organs and systems which helps to make red blood cells, keep nerve cells healthy, and support your immune system and others. The rising demand in electronic sector are expected to drive the coper market.

  • Rising demand in electronic sector

Copper is a main element of superconductors that makes all high-end electronics possible. It is possessing absolutely zero resistance to electricity. Copper has higher electrical or thermal conductivity than silver, these features make copper essential in electrical manufacturing. This includes electromagnets, semiconductors, heat sinks, electrical wiring, heating elements, microchips and welding electrodes.  

  Opportunities

  • Rise the demand in gross domestic product

Copper added to the gross domestic product in both emerging and advanced nations that has more increase its influence overall the globe. Drilling, Reusable copper, and its transmutation into the concocted mineral create an assortment of commodities that have formulated a comprehensive amount of employment. The necessity of copper for plugs, composing valves, pipes, and fixtures has extended germination in this market.

Competitive Landscape and Copper Market Share Analysis

The copper market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to copper market.

Some of the major players operating in the copper market are:

  • Anglo American (U.K.)
  • Antofagasta Plc (U.K.)
  • BHP (Australia)
  • Codelco (Chile)
  • First Quantum Minerals Ltd. (Canada)
  • Grupo México (Mexico)
  • Jiangxi Copper Co. Ltd. (China)
  • JX Nippon Mining Metals Corpation (Japan)
  • KGHM (Poland)
  • KME GERMANY GMBH (Germany)
  • Mitsubishi Materials Corporation (Japan)
  • Mitsui Mining Smelting Co. Ltd. (Japan)
  • Norilsk Nickel (Russia)
  • OM Group Inc. (U.S.)
  • Rio Tinto (U.K.)
  • Sumitomo Metal Mining Co., Ltd. (Japan)
  • Teck Resources Limited (Canada)
  • UMMC Holding Corp. (Russia)
  • Vale (Brazil)

     

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