Global Consumption of Refined Copper is Projected to Reach 26.2 Million Metric Tons by 2020

Metallurgical Research & Development of Copper Alloys to Meet Technology Demands in the 21^st Century Drives the Global Copper Market, According to a New Report by Global Industry Analysts, Inc.  

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Copper market. Global consumption of refined copper is projected to reach 26.2 million metric tons by 2020, driven by evolving applications supported by continuous focus on metallurgical research and the development of copper alloys designed to meet the toughest demands of technology in the 21st century.

Copper, a reddish metal, is the 25th most abundant metallic element found in the earth’s crust. The metal is used in applications ranging from electrical, plumbing, roofing, energy to industrial machinery and equipment. As the first metal used by man almost 60 centuries ago, the use of the metal continues to evolve even today supported by technology developments that help improve the metal’s characteristics, properties, and versatility. Copper deposits are mixed with mineralized materials and rocks. Miners extract copper in the form of copper oxide ores or copper sulfides. Copper in these forms is mined from large open mines typically in regions with high porphyry copper deposits. Both developed as well as developing countries owe a significant part of their economic growth and infrastructural development to extensive copper mining, processing and trade. In the United States, copper is the third most consumed metal ranking only after aluminum and iron. Demand for copper is dependent on macroeconomic factors such as economic and political situation in international markets, international trade scenario, changes in regulatory requirements and currency exchange rate fluctuations.

Currently, copper is used in ICT products at homes and offices, automobiles, construction, semiconductors, Key benefits of copper supporting its consumption across industries include exceptional aesthetic, chemical, physical, electrical and thermal properties. Other useful characteristics of copper include its high ductility, softness and malleability. While copper finds application in motors, wiring, batteries, pumped hydropower, CAES, and flywheels, it also finds use in electrical equipment and infrastructure such as cooling systems, inverters, generators, transformers, wiring and motors, among others. Copper enables electric motors to perform better, be reliable and energy efficient by virtue of its thermal and electrical conductivity properties. Motors typically require over 250 million tons of copper, mainly for wiring. Cost and energy savings can be achieved, by augmenting the volume of copper used in motors. The Copper chip is a recent innovation, wherein copper is used for the circuit in the silicon chip, which enables operation of microprocessors at relatively higher speeds, at lower energy consumption levels. Copper is used widely in other electronic devices or equipment in the form of switches, connectors, transformers, and wires. Future growth in the market is expected to come from increased use in electric/battery-powered cars, and renewable energy generation. The natural antibacterial property of copper is resulting in the growing use of antimicrobial copper and its alloys in the area of infection prevention.

As stated by the new market research report on Copper, Asia-Pacific represents the largest and the fastest growing market worldwide, led by factors such as capacity expansions, rising foreign investments in copper mining, growth in exports, and discovery of new mines. China ranks as one of the chief consumers, producers and importers of copper in the world. The country’s huge manufacturing sector provides a fertile climate for robust copper consumption both in crude and refined forms.

Major players covered in the report include Anglo American Plc, Antofagasta Plc, Aurubis AG, BHP Billiton Group, Cambridge Lee Industries LLC, Codelco, First Quantum Minerals Ltd., Freeport-McMoRan Copper & Gold Inc., Grupo México S.A.B. DE C.V, Global Brass and Copper, Inc., Jiangxi Copper Co. Ltd., JX Nippon Mining & Metals Corp., KGHM Polska MiedŸ S.A, KME AG, Mitsubishi Materials Corp., Mitsui Mining & Smelting Co. Ltd., Norilsk Nickel, OM Group Inc., Rio Tinto Group, Sumitomo Metal Mining Co., Ltd., Teck Resources Ltd., The Furukawa Electric Co., UMMC Holding Corp., and Vale Ltd. among others.

The research report titled “Copper: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers and strategic industry activities of major companies worldwide. The report provides market estimates and projections of consumption in thousand metric tons for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific (India, South Korea, Taiwan, and Others)), Latin America (Brazil and Rest of Latin America), and Rest of World. The global and regional markets for Copper are analyzed by the end-use sectors - Building & Construction, Electrical & Electronic, Industrial Machinery & Equipment, Transportation, and Consumer & General Products.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.