Global Oxygen-Free Copper Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing use of metal in various industries, durable and higher conductivity, rising demand from electrical and electronics and increasing sales of electric vehicles are some factors anticipated to drive the growth of the Global Oxygen-Free Copper Market.
Global Oxygen-Free Copper Market is valued at USD 18.56 Billion in 2020 and expected to reach USD 26.47 Billion by 2027 with a CAGR of 5.2% over the forecast period.
Oxygen-free copper is defined as wrought metal alloys that have undergone the electrolytic processing making the product highly conductive. Electrolytic refining process helps in reduction of oxygen content in the metal to a significantly low level which not only makes the product achieve high conductivity for electricity but also helps in achieving chemical purity. Therefore, it is highly valued and commonly used in industrial applications such as manufacture of semiconductors and superconductors and high vacuum devices such as particle accelerators that involve deposition of plasma. The use of oxygen free materials in such applications is significant, as presence of oxygen or any other contamination leads to undesirable chemical reactions with the materials present in the surroundings. Wires made up of oxygen free copper exhibit superior conductivity, improved ability to transfer low frequency sounds, and durability etc. Therefore, oxygen free copper is widely used in the manufacture of high end audio-visual systems. This includes manufacture of audio-video connector cable assemblies, speaker wires, and amplifier wires. Copper oxygen-free (Cu-OF) is used in magnetometers and electromagnets and copper oxygen-free electronic is used for making rectifiers and transistors.
During COVID-19 pandemic, has shown a decline impact on the growth of global Oxygen-free copper market as lockdown has stopped manufacturing which has significantly contributed in the market disruption. Due to transportation restrictions, there could not be a regular material supply, while most of the metal plants stopped productions temporarily and the recent commerce imposition of preliminary duties on all oxygen free copper metal imports may further affect the market negatively. Number of projects in the United States, Germany, China, and South Korea have been postponed. These plants are facing short-term operational problems due to supply chain constraints and the inaccessibility of factories due to the COVID-19 outbreak.
The oxygen free copper market is segmented into grade, product, industry and region & country level. Based on grade, the oxygen-free copper market is divided into copper oxygen-free electronic (Cu-OFE) and copper oxygen-free (Cu-OF). Based on product, the oxygen-free copper market is divided into wire, strips, rods, bars and others. On the basis of industry, the oxygen-free copper market is segmented into electronics & electrical and automotive and other.
The regions covered in this global oxygen free copper market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of oxygen free copper is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
The global oxygen free copper market report cover the major players like Copper Braid Products, Farmer’s Copper Ltd., Citizen Metalloys Ltd., Hussey Copper Ltd., Haviland Enterprises Inc., Heyco Metals Inc., and Millard Wire & Specialty Strip Co., and others.
News: Mitsubishi to Acquire 30% Stake in Chile’s Mantoverde Copper Mine
February 10th, 2020; Mitsubishi Materials Corporation announced that it reached an agreement to acquire 20% stake in the Mantoverde copper mine from Mantos Copper Holding SpA (Chile) and participate in the Mantoverde Development Project. In consideration for the 30% stake, Mitsubishi Materials Corporation will contribute USD 263 million at closing of the deal. The company will receive offtake rights of 30% of copper produced, proportionate to its ownership stakes, and will receive the produced materials in the form of copper concentrate. As a long-term collaborator to co-invest in the Mantoverde Development Project (MVDP), Mantoverdem plans to use $731m to expand facilities and build a concentrator to extract and process sulphide ore. With a mine life of until 2041, total copper production from the Mantoverde mine is expected to be 1,700 kilo tonnes (Kt) during its life.
The global oxygen-free copper market is rapidly driven by due to the increasing technological advancements and the requirement for pure copper metals & alloys, various grades of oxygen-free copper are used in manufacturing components and equipment in this industry. Speedily rising internet connectivity services in emerging economies along with the adoption of high-end audio devices are supporting the oxygen-free copper. According to copper alliance organization, in oxygen-free high conductivity copper, all traces of oxygen are removed by either melting in a vacuum, using an inert atmosphere or a reducing environment resulting in a very pure (99.95%) copper. In addition, the electronics & electrical industry is expected to grow rapidly in the near future owing to the continuous research & development (R&D) and technological advancements in the industry. As per the Electronics Industries Association of India (ELCINA); the global electronics hardware sector was valued at USD 2 trillion in 2018. The electronics & electrical industry is the major end-use industry in the oxygen-free copper. The adoption of nanotechnology in this industry will also direct to the demand for pure or oxygen-free copper. Furthermore, advanced certification passed by these materials will also assist to develop product demand.
However, volatility in the prices of copper may hamper the overall oxygen free copper market growth. In spite of that, increase in acceptability of oxygen free copper by processing industry as well as healthcare industry is anticipated to create more opportunities for its further growth.
Geographically, the Asia Pacific region is expected to witness a fastest growth in the oxygen-free copper market due to the rapid industrialization in developing countries and expansion of the chemical processing and electronic industries in this region. Countries such as Japan, China, Korea, Taiwan, India, and Singapore are primary centres for manufacturing and sale of electrical & electronic goods, which are the major end users of oxygen-free copper. According to the Ministry of Industry and Information Technology (MIIT), China is the world’s largest producer of consumer electronics with more than 60% global share. The Asia Pacific region is a productive market for automobiles and is witnessing a move toward EVs, such as Hybrid Electric Vehicles (HEVs). For instance; in India, the FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) scheme has been launched by the government to boost electric vehicle manufacturing, which aims to accomplish production of around 7 million EVs (Electric Vehicles) by 2020.
North America and Europe are expected to capture a significant share in the oxygen-free copper market due to the high advancements in electronic and electric vehicles industry, which is contributing in the growth of the market in these regions.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 18.56 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 26.47 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Copper Braid Products, Farmer’s Copper Ltd., Citizen Metalloys Ltd., Hussey Copper Ltd., Haviland Enterprises Inc., Heyco Metals Inc., and Millard Wire & Specialty Strip Co., and others|
|Segments Covered||By Grade, By Product Type, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|