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 21st 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.
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