Higher Copper Load of Electric Vehicles to Emerge as a Game Changer in the Global Copper Market
Growing focus on renewable technologies including wind and solar energy, surge in production of electric vehicles and improving investment in infrastructure development are poised to drive global consumption of refined copper to reach 29 million metric tons by 2024 . One of the first metals to be discovered and used by humans, Copper enjoys wide applications across various industrial, technological and domestic sectors ranging from coins and ornaments to aerospace electronics. Copper is a naturally occurring metal in the crust of the earth and is extremely versatile. Its major advantages come from its exceptional aesthetic, chemical and physical properties including thermal and electrical conductivity. The growth in the market is driven by increasing demand from existing and niche market applications spanning various sectors including building and construction, electrical and electronic equipment, industrial machinery and equipment, transportation, and consumer products. Future g...