Publishing: October 2021 | Report Code: CM12223 | Available Format: PDF
The global oxygen-free copper market stood at around $20.0 billion in 2020, which is expected to show significant growth during the forecast period (2021–2030). The key factors responsible for the growth of the market are the increasing usage of oxygen-free copper wires in electric vehicles (EVs) and in the electronics & electrical industry. These wires are highly demanded due to their high ductility, high electrical and thermal conductivity, high impact strength, good creep resistance, and ease of welding.
During the COVID-19 pandemic, the demand for oxygen-free copper has reduced due to the curtailed production of EVs and shutdown of electronic & electrical product factories. This was essentially due to the strict actions taken by governments of different countries, such as temporary lockdowns and restrictions on transportation activities, in order to keep the public safe. These factors affected the growth of the oxygen-free copper market.
In 2020, the oxygen-free category accounted for the larger share in the oxygen-free copper market, both in terms of volume and value, and it is projected to retain its dominance during the forecast period, based on grade. This can be ascribed to the increasing demand for oxygen-free copper in magnetometers, electromagnets, and other superconductors and increasing demand for EVs.
The wires category accounted for the largest share in the oxygen-free copper market in 2020, based on product. This can be attributed to the increase in the usage of oxygen-free copper wires in electronics, microwave tubes, vacuum capacitors, vacuum interrupters, and vacuum seals.
The electronics & electrical category would show significant growth in the oxygen-free copper market in the forecast period, based on end-user. This can be aligned with the wide consumption of this material in the manufacturing of semiconductors and superconductors and rising power demand worldwide.
Globally, the APAC region dominated the oxygen-free copper market in 2020, and it would continue to lead it during the forecast period. This can be credited to the increasing demand for electronic and semiconductor devices in the developing countries of the region, such as China, Bangladesh, and India.
Globally, the increasing use of EVs plays a pivotal role in the growth of the market for oxygen-free copper. This material has a low electrical and thermal resistance, due to which it is increasingly being used in the production of EVs, including plug-in hybrid electric vehicles (PHEVs). Essentially, to lower the level of carbonization in the automotive sector and limit the negative effects of greenhouse gases, car manufacturers, such as Hyundai Motor Company, BMW AG, and Tesla Inc., are dedicatedly working toward producing EVs, which bolsters the market for oxygen-free copper.
For instance, in December 2019, Tata Motors Limited launched Tata Nexon EV, which is an electric sports utility vehicle (SUV), in India; it has sold around 4,000 units till March 2021. EVs require intelligent connectivity solutions for electrically powered systems, such as oxygen-free copper busbars and cables, thus resulting in the growth of the market for oxygen-free copper.
|Base Year (2020) Market Size||~$20.0 Billion|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis; Company Profiling|
|Market Size by Segments||By Grade, By Product, By End User, By Region|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa|
|Secondary Sources and References (Partial List)||Aluminum Association, Automotive Component Manufacturers Association, China Association of Automobile Manufacturers, China Electric Vehicle Association, China Passenger Car Association, Winding Wires Manufacturers' Association of India, Society of Manufacturers of Electric Vehicles, United Nations Statistics Division, United States Energy Association, World Electric Vehicle Association|
Some of the major players operating in the global oxygen-free copper industry are Mitsubishi Materials Corporation, KME Germany GmbH, Hitachi Metals Neomaterials Ltd., Libo Group, KGHM Polska Miedz SA, Metrod Holdings Berhad, Aviva Metals Inc., Farmer’s Copper Ltd., Citizen Metalloys Ltd., Hussey Copper Ltd., and Sam Dong Co. Ltd.
In recent years, these and many other chemical & material companies have been involved in acquisitions in order to achieve a better position in the oxygen-free copper market.
The oxygen-free copper market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Grade
Based on Product
Based on End user
The global oxygen-free copper market reached revenue of $20.0 billion in 2020.
The electronics & electrical end-user category will surge sharply in the oxygen-free copper industry during 2021–2030.
Asia-Pacific was the largest region in the oxygen-free copper industry in 2020.
The market for oxygen-free copper will boom in Asia-Pacific in the coming years, because of the mushrooming sales of semiconductor and electronic devices in the developing nations of the region.
China is the largest country in the market for oxygen-free copper.
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