According to the new market research report "Oxygen-Free Copper Market by Grade (Cu-OF, Cu-OFE), Product Form (Wire, Strips, Busbar & Rod, Others), End-use Industry (Electronics & Electrical, Automotive, Others), & Region - Global Forecast to 2025", published by MarketsandMarkets™, the Oxygen-Free Copper Market is projected to grow from USD 19.9 billion in 2020 to USD 25.9 billion by 2025, at a CAGR of 5.3% during the forecast period.
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Oxygen-Free Copper Market Key Players
Key players operating in the oxygen-free copper market are KGHM PolskaMiedz SA (Poland), Hitachi Metals Neomaterials Ltd. (Japan), Zhejiang Libo Holding Group (China), Mitsubishi Materials Corporation (Japan), MetrodHoldings Berhad (Malaysia), Aviva Metals (US), KME Germany GmbH (Germany), and Sam Dong (South Korea). These players have adopted various growth strategies to expand their global presence and increase their market share.
KGHM Polska Miedz SA is a Poland-based company engaged in mining and production of copper and other precious metals. The company operates through various sites under the divisions, such as mining & enrichment, smelting & refining, and downstream processing. Through these divisions, the company manufactures products, such as copper, precious metals, molybdenum, and rhenium. Under the copper product segment, the company provides cathodes, wire rod, Cu- OFE wire, Cu-Ag wire, round billets, and granules. It manufactures oxygen-free copper in Cedynia plant using the UPCAST technology. It exports its products to Germany, the UK, France, China, and the Czech Republic, among other countries. The company has mining and enrichment facilities in Poland, Chile, Canada, and US. Its metallurgy, refinery and processing plants are all located in Poland. The company also has an office located in China to cater to the demands from the region. KGHM is one of the key players among those controlling the world’s copper reserves. The company’s share is estimated at 41.8 million tons (38 million tonnes) of copper in 2020.
Increasing demand for oxygen-free copper from the electronics & electrical end-use industry, especially in the Asia Pacific region, is expected to drive the demand for oxygen-free copper in the near future. The requirement for high-quality copper with high electrical conductivity has accelerated the demand for oxygen-free copper in the electronics & electrical end-use industry.
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The Cu-OF segment is projected to lead the global oxygen-free copper market through 2025
The Cu-OF segment acquired the largest share in the oxygen-free copper market in 2019, in terms of value, and is projected to grow at the highest CAGR during the forecast period. Cu-OF (C10200) is 99.95% pure copper with 0.001% oxygen content. Its conductivity rating is equivalent to electrolytic tough pitch (ETP) with minimum 101% IACS electrical conductivity. It generally has a liquidus and solidus melting point of 1,9810 Fahrenheit. Its density is 8.94 g/cm3. It is used in cutting-edge scientific equipment, such as magnetometers, electromagnets, and other superconductors.
The automotive segment is projected to grow at the highest CAGR in the oxygen-free copper market during the forecast period
The automotive segment is projected to grow at the highest CAGR in the oxygen-free copper market from 2020 to 2025. The automotive industry is getting momentum with the advent of electric vehicles (EVs) in emerging countries, for instance, India. Due to their high electrical conductivity, they are also increasingly being used in battery components of EVs. In addition, the rising demand from the automotive and aerospace industries will also drive the growth of this copper type.
The Asia Pacific is projected to hold the largest share in the oxygen-free copper market during the forecast period
The Asia Pacific is the most attractive market for oxygen-free copper due to the rapid socio-economic development in the region. This region is a prospective market for the growth and demand of electronics & electrical and automotive, among other industries. Countries in this region such as Japan, China, Korea, Taiwan, India, and Singapore are primary centers for manufacturing and sale of electrical & electronic goods, which are the major end-users of oxygen-free copper. The Asia Pacific region is a lucrative market for automobiles and is witnessing a shift toward EVs, such as Hybrid Electric Vehicles (HEVs).
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Table of Contents for Oxygen-Free Copper Market:
- Introduction of the Oxygen-Free Copper Market
- Overview of the Market
- Scope of Report
- Assumptions
- Executive Summary
- Research Methodology of Verified Market Reports
- Data Mining
- Validation
- Primary Interviews
- List of Data Sources
- Oxygen-Free Copper Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
- Oxygen-Free Copper Market, By Grade
- Oxygen-Free Copper Market, By Product Form
- Oxygen-Free Copper Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
- Oxygen-Free Copper Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
- Company Profiles
- Appendix