Copper & Copper Manufactured Products Market Overview:
The Global Copper & Copper Manufactured Products Market is expected to reach $147,631 million by 2023, registering a CAGR of 0.8% during the forecast period.
The rise in urbanization has elevated the consumer lifestyle and shifted their preference towards copper products for architecture, including plumbing, wall cladding, roofs, and others. Moreover, the imitation of green buildings is likely to supplement the copper & copper manufactured products market growth. However, widely used of copper substitutes, namely PVC, optical fiber, metal substitutes, and cross-linked polyethylene could hamper the copper & copper manufactured products market growth.
This copper & copper manufactured products market is segmented on the basis of product type and geography. Based on product type, the market is broadly classified into industrial machinery, transportation, wire & cable, architecture, building construction, electrical & electronic devices, and others. In the year 2016, electrical & electronic devices had generated the maximum revenue with a share of more than 25%.
The use of copper wire in power transformers reduced chances of failure as compared to aluminum wire terminations. In addition, copper is soft, electrically conductive, and breaks easily, thereby preventing non-mechanical connections such as soldering with less expansion. It has resulted in the highest revenue from transformers under electrical & electronic devices.
The demand for metal substitutes is on an increase every year. Metals are copper have been in use since decades and is still leading the global metal market. For instance, lead is a naturally-occurring metal and is largely found in scientific equipment, building materials, and car batteries. However, lead recycling is an energy-efficient process, and thus acts as one of the major contributors to sustainable development by reducing CO2 emissions. Lead smelting is a hazardous process, which requires labor, health, and occupational safety. Therefore, due to stringent environmental regulations, its recycling rate in Europe and the U.S. is more than 95%, making it one of the most valuable materials. These factors are challenging the copper & copper manufactured products market.
The market is analyzed across four regions-North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the global market during the analysis period due to the presence of large number of consumers of copper & copper manufactured products in the region and is expected to grow at a significant rate.
The report includes comprehensive analysis of the key players in copper & copper manufactured products market such as Wieland Copper Products, LLC, Gulf Copper and Manufacturing Corporation, First Quantum Ltd., E&M Copper Products, ASARCO LLC, Premier Copper Products, Bronces Cern, RPK group, JSC Uncomtech, Cable Its Group, Itafil, Glencore, Yanggu Xiangguang Copper Co., Ltd. Jinchuan Group Co., Ltd., PRIMA COPPER INDUSTRI, CV, and others.
This report provides an in-depth analysis of the global copper & copper manufactured products market to identify the potential investment pockets.
It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
Quantitative analysis of the market from 2014 to 2023 is highlighted to recognize the financial competency of the market.
Porters Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.
Copper & Copper Manufactured Products Market Key Segments:
By Product Type
Wire & cable
Electrical & electronic devices
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA