CHICAGO, May 1, 2024 /PRNewswire/ -- The
report "Oxygen-Free Copper Market by
Grade (Cu-OF, Cu-OFE), Product Form (Wires, Strips, Busbar &
Rods), End-use Industry (Electronics & Electrical, Automotive),
and Region( North America,
Europe, APAC, MEA, South America) - Global Forecast to 2029",
size is projected to grow from USD 30.9
billion in 2024 to USD 40.4
billion by 2029, at a CAGR of 5.5% during the forecast
period.
The increasing demand for oxygen-free copper is largely driven
by the growing electronics and electrical industries, particularly
in the Asia Pacific region. As
countries like China, Japan, South
Korea, and India continue
to expand their manufacturing and consumer electronics sectors,
there is a rising need for high-quality, high-conductivity copper
materials. Oxygen-free copper's exceptional electrical properties
and low impurity levels make it indispensable for applications like
printed circuit boards, semiconductors, and audio-visual systems.
Moreover, the shift towards electric vehicles and renewable energy
sources further boosts the demand for oxygen-free copper. Price
fluctuations in the oxygen-free copper market present a key
challenge. Influenced by factors like raw material costs and global
demand, these unpredictable changes can impact profitability and
planning for both producers and consumers. Effective risk
management and market monitoring are essential to mitigate these
challenges.
Browse in-depth TOC on "Oxygen-Free Copper Market"
300 – Tables
60 – Figures
200 – Pages
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The Cu-OF segment is expected to register the highest growth
in the global oxygen-free copper market during the forecast
period.
The oxygen-free copper market is categorized as Cu-OF and Cu-OFE
grades. Leading the market in 2023 in terms of value,
the Cu-OF segment is projected to achieve the highest CAGR during
the forecast period. Cu-OF (C10200) is a copper grade with 99.95%
purity and 0.001% oxygen content, offering conductivity comparable
to electrolytic tough pitch (ETP) at a minimum of 101% IACS
electrical conductivity. It typically has a liquidus and solidus
melting point of 1,9810 Fahrenheit and a density of 8.94 g/cm3.
This high-purity copper is utilized in advanced scientific
equipment like magnetometers, electromagnets, and other
superconductors.
Automotive segment is projected to be the fastest growing
segment in the oxygen free copper market.
The automotive segment is expected to register the highest CAGR
in the oxygen-free copper market between 2020 and 2025. With the
rise of electric vehicles (EVs), particularly in emerging markets
like India, the automotive
industry is gaining traction. Oxygen-free copper's high electrical
conductivity makes it increasingly relevant for use in EV battery
components. Additionally, growing demand from both the automotive
and aerospace sectors will further fuel the market growth for this
type of copper.
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The wires segment is expected to dominate the oxygen free
copper market.
The wires segment holds the largest share in the oxygen-free
copper market among wires, strips, busbars & rods, and others
due to its widespread use across various industries. Wires are
essential components in electrical and electronic applications,
including power transmission, telecommunications, and automotive
wiring. Their high electrical conductivity and reliability make
oxygen-free copper wires the preferred choice for these critical
applications, driving their dominant position in the market.
Asia Pacific region is the
largest market for oxygen free copper.
The Asia-Pacific (APAC) region
holds the largest share of the oxygen-free copper market due to
several key factors. Countries like China, India,
Singapore, Korea, and Japan serve as primary centers for the
manufacturing and sale of Electric Vehicles (EVs). As the region
witnesses a significant shift towards electric and hybrid electric
vehicles (HEVs), the demand for high-quality, high-conductivity
materials like oxygen-free copper has surged. These countries'
strong focus on EV production and adoption, coupled with their
robust manufacturing capabilities, contribute to APAC's dominant
position in the oxygen-free copper market.
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Market Players
Some of the key players in the global oxygen free copper market
market are KGHM Polska Miedz SA (Poland), Proterial Metals, Ltd. (Japan), Mitsubishi Materials Corporation
(Japan), Metrod Holdings Berhad
(Malaysia), Aviva Metals (US),
Aurubis AG (Germany), Copper Braid
Products (UK), KME Germany GmbH (Germany), and Sam
Dong (South Korea) and
others. Expansions, acquisitions, and deals are some of the major
strategies adopted by these key players to enhance their positions
in the oxygen free copper market.
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