Rolled Copper Products market is projected to grow at a CAGR of 5.7% by 2034: Visiongain
Visiongain has published a new report entitled *Rolled Copper Products Market Report 2024-2034**: Forecasts by Alloy Type (Pure Copper, Copper Alloys), by Thickness (Thin Gauge (Less than 0.2 mm), Medium Gauge (0.2-1 mm), Thick Gauge (More than 1 mm)), by Form (Rolled Sheets, Rolled Strips, Rolled Foils, Other), by Application (Printed Circuit Boards (PCBs), Electrical Wiring, Roofing and Cladding, Heat Exchangers, Other), by End-use Industry (Electrical & Electronics, Automotive, Construction, Industrial Machinery, Consumer Goods, Aerospace & Defence) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis**.*
The global rolled copper products market was valued at US$24.87 billion in 2023 and is projected to grow at a CAGR of 5.7% during the forecast period 2024-2034.
*Expansion of the Automotive Industry*
The automotive sector represents another major market for rolled copper products, particularly in applications such as radiator manufacturing, brake lines, and electrical connectors. With the growing demand for electric vehicles (EVs) and hybrid vehicles, there is an increased need for copper wiring harnesses, battery components, and electric motors, driving the demand for copper materials in automotive manufacturing. Additionally, the trend towards light weighting in vehicle design promotes the use of copper alloys for their strength-to-weight ratio and corrosion resistance.
*Rise in Consumer Goods Manufacturing*
Rolled copper products find widespread applications in the manufacturing of consumer goods such as kitchen appliances, air conditioning systems, and decorative items. Copper tubes and coils are commonly used in HVAC (heating, ventilation, and air conditioning) systems for their thermal conductivity and corrosion resistance properties, ensuring efficient heat transfer and durability. Moreover, the demand for copper-based plumbing fixtures and fittings remains steady due to the material's antimicrobial properties and long-term reliability in water distribution systems.
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*How has COVID-19 had a significant negative impact on the Rolled Copper Products Market?*
The COVID-19 pandemic has significantly impacted the rolled copper products market, introducing both challenges and opportunities for industry stakeholders. One of the immediate effects of the pandemic was the disruption of global supply chains, leading to delays in production and distribution channels for rolled copper products. Lockdown measures, travel restrictions, and workforce shortages hindered manufacturing operations, causing disruptions in supply and demand dynamics.
Moreover, the pandemic-induced economic slowdown and uncertainties prompted a decline in construction and infrastructure activities, which are key sectors driving the demand for rolled copper products. With many construction projects postponed or cancelled, demand for copper products, including pipes, tubes, and wiring, experienced a downturn. Additionally, reduced consumer spending and business investments during the pandemic further dampened demand across various industries, including automotive, electronics, and telecommunications, which are significant end-users of rolled copper products.
However, amidst the challenges, the pandemic also presented opportunities for the rolled copper products market. The increased emphasis on hygiene and sanitation measures led to a surge in demand for antimicrobial copper surfaces, such as copper door handles and touch surfaces, in healthcare facilities and public spaces. Copper's inherent antimicrobial properties, which help reduce the spread of pathogens, garnered attention as a potential solution to mitigate the transmission of infectious diseases, including COVID-19.
*How will this Report Benefit you?*
Visiongain’s 386-page report provides 127 tables and 193 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global rolled copper products market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Rolled Copper Products. Get financial analysis of the overall market and different segments including alloy type, thickness, form, application, and end-use industry and capture higher market share. We believe that there are strong opportunities in this fast-growing rolled copper products market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
*What are the Current Market Drivers?*
*The Speedily Growing Electronics Industry and Rise of Smartphones*
The rapid expansion of the electronics industry, coupled with the proliferation of smartphones, is driving significant demand for copper in various applications within this sector. Copper, one of the oldest metals known to humanity, has found itself at the forefront of innovation in electronics. With three-quarters of its consumption directed towards electronics, copper plays a pivotal role in the production of electronic connectors, circuitry, printed circuit boards, computer chips, semiconductors, and commutators. IBM's adoption of copper for computer processors marked a significant turning point. By replacing traditional aluminium components with copper, IBM capitalized on copper's superior electrical conductivity, which can be up to 40% better than that of aluminium. This improvement allowed for the reduction in the size of electronic devices while enhancing data processing speeds by approximately 15%.
*Copper Rolled Product Business for Automotive Terminals and Connectors*
The copper rolled product business for automotive terminals and connectors serves as a pivotal driving factor in the market, fuelling innovation and growth within the automotive industry. Copper, renowned for its exceptional conductivity and durability, plays a fundamental role in the production of terminals and connectors essential for automotive electrical systems. In modern vehicles, electrical systems have become increasingly sophisticated, powering a myriad of components ranging from infotainment systems to advanced driver assistance features. As a result, there is a growing demand for high-quality terminals and connectors capable of efficiently transmitting electrical signals and power throughout the vehicle.
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*Where are the Market Opportunities?*
*Rapid Industrialization and Urbanization in Emerging Economies Present Significant Growth Opportunities*
The rapid pace of industrialization and urbanization in emerging economies offers substantial growth opportunities for the market. As countries undergo rapid economic development, there is an increasing demand for copper products across various sectors such as construction, infrastructure development, electrical equipment manufacturing, and automotive industries. The expansion of urban areas and the construction of new infrastructure projects require significant quantities of copper for wiring, plumbing, and other applications. Moreover, the growing middle-class population in emerging economies drives the demand for consumer electronics, which further boosts the demand for copper-based products. This trend presents a lucrative opportunity for market players to capitalize on the growing demand for copper products in these regions and expand their market presence.
*Geographical Expansion into New Markets or Regions with High Demand for Copper Products*
Geographical expansion into new markets or regions with high demand for copper products represents another significant opportunity for market growth. As the demand for copper products continues to rise globally, particularly in regions undergoing rapid infrastructure development and industrialization, market players can strategically expand their operations to tap into these burgeoning markets. By establishing a presence in regions with high demand for copper products, companies can enhance their market share and revenue streams. Additionally, expanding into new markets allows companies to diversify their customer base, mitigate risks associated with market fluctuations in specific regions, and capitalize on emerging business opportunities.
*Competitive Landscape*
The major players operating in the rolled copper products market are Aurubis AG, Chinalco Luoyang Copper Processing Co., Ltd., Freeport-McMoRan Inc., Furukawa Electric Co., Ltd., Jiangxi Copper Company, JX Nippon Mining & Metals Corporation, LS-Nikko Copper Inc., Metallurgical Corporation of China, Mitsubishi Materials Corporation, Mueller Industries, Ningbo Jintian Copper (Group) Co., Ltd., Sam Dong, Southwire Company, LLC, Wieland Electric GmbH, Wieland-Werke AG. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
*Recent Developments*
· 11 Oct 2023, Anglo American and Mitsubishi Materials Corporation ("Mitsubishi Materials") have signed a memorandum of understanding to work together on developing a copper product offering that meets the growing demand for metals with provenance credentials that can be verified.
· 28 Sept 2023, Aurubis, a major producer of multi-metals worldwide and a major recycler of copper, has effectively finished the Copper Mark assurance procedure for its Olen facility as well. The Belgian factory is the fourth location in the Aurubis smelter network to be awarded the globally renowned quality seal for ethical copper production, after Pirdop, Hamburg, and Lünen.
· 15 June 2023, Anglo American and Jiangxi Copper Company, often known as "Jiangxi Copper," one of the biggest copper producers in China, have inked a memorandum of understanding to collaborate in order to offer more assurance regarding the mining, processing, and marketing of copper.
To access the data contained in this document please email contactus@visiongain.com. Avoid missing out by staying informed – order our report now.
*To find more Visiongain research reports on the **materials** sector, click on the following links:*
· Magnesium Alloys Market Report 2023-2033
· Metalized Flexible Packaging Market Report 2021-2031
· Metal Forming Market Report to 2031
· Corrosion Resistant Alloy Market 2019-2029
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