Copper Market 2019-2028
New Study Reports “Copper Market 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2028” Added in Wiseguyreports.com.
Report Details:
2013-2028 Report on Global Copper Market by Player, Region, Type, Application and Sales Channel
The global demand for copper is expected to rise above 4.2% through 2020 to about 36.0 million metric tons, projected value of $261 billion. This is because of the versatility of copper, due to which it finds application in a number of fields. The increased infrastructure development in today’s world has been aiding this growth – for example, the use of copper in building wires and plumbing, and also in power grids, on a national level. Further, copper metal is also used in transportation equipment, machinery used in industries and domestic appliances and the growth in global manufacturing output has also been fueling the demand for copper on these fronts.
In 2019, the growth of refined growth was limited by increased smelter disruptions and temporary shutdowns. This resulted in decline in the expected output in Chile, Zambia and DRC, also in the European Union, India, the US and Japan. Out of these, the reductions in DRC has caused a blow to refined production because here, the decline was in SX-EW mines.
However, in 2020, additional supply due to the ramped-up mines, along with the recovery of the Indonesian region and improved production capacities in the African region is expected to support growth. This is aided by the expansion of refinery in China. But, the 4% growth expected for 220 is greater than the number projected by the International Copper Study Group in April, as it is speculated that the electrolytic refined production would not be contained by limited availability of concentrates, as much as anticipated earlier. Also, the production from secondary scrap faced a minor decline in 2018 and is expected to rise in 2020.
Important Key Players Analysis: Aurubis, Jiangxi Copper, Golden Dragon, Wieland, KME Group, Jintian Group, IUSA, Mueller, Poongsan, TNMG, MKM, Mitsubishi Materials, Hailiang Group, Luvata, CHALCO, Jinchuan Group, Anhui Xinke, Marmon, Xingye Copper, KGHM, Furukawa Electric, Diehl Group, CNMC. and more.
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Segmentation
The copper market can be segmented on the basis of type, end-user and quality. On the basis of type, it is segmented into Cupricite, Chalcocite, Malachite, Bornite, and Azurite. By end-user or application, it can be segmented into refining, metal processing, construction, chemical, power generation, and others. In terms of application, the construction sector is speculated to be the major demand driver due to increased industrialization and the rising number of commercial and residential constructions. Another factor bolstering the demand is the increase in the number of EVs which use twice as much copper. The mining industry is also set to boost demand.
Regional Analysis
On the basis of region, Asia-Pacific generated the highest revenue, accounting for around 55% of the copper market. China is a major player, located in Asia Pacific. Also, India is predicted to register very high gains due to the increase in industrial activities and swelling population, creating the demand for more residential constructions. South America is also a dominant segment, amounting to around 23% share. Europe and North America are also key players.
Key Stakeholders
Copper Manufacturers
Copper Distributors/Traders/Wholesalers
Copper Sub component Manufacturers
Industry Association
Downstream Vendors
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Latest News in the Industry
Although the forecast shows healthy growth in the future, things are not looking very good for copper right now. The metal is used as an instrument to measure global economic growth. London Copper prices have fallen, due to a possible delay in the trade deal between the United States and China. The prolonged trade dispute between the economic giants of the world has impacted the growth and demand for copper negatively. The most-traded contract on the Shanghai Futures Exchange has however shown a rate of 0.2%, thus showing rays of hope.
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