The copper market size has grown strongly in recent years. It will grow from $176.88 billion in 2024 to $190.72 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to electrical and electronics industry, construction sector, industrial machinery manufacturing, automotive manufacturing, infrastructure development.
The copper market size is expected to see strong growth in the next few years. It will grow to $253.82 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to renewable energy transition, electric vehicles (EVs) demand, urbanization and construction growth, 5G network expansion, global economic recovery. Major trends in the forecast period include copper in antimicrobial applications, supply chain resilience and diversification, copper recycling initiatives, copper alloy innovations, copper price volatility and market speculation.
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What are the key forces behind the copper market’s growth in recent years?
The growth in the copper market is due to increasing construction projects in rapidly developing countries such as China and India owing to the rising population and infrastructure. Population refers to the whole number of people or inhabitants in a country or region. Copper minerals and ores are found in both igneous and sedimentary rocks. For instance, In June 2022, according to Worldometer, a US-based reference website that provides counters and real-time statistics for diverse topics, The current population of China is 1,450,341,718. Therefore, the rising population is driving the growth of the copper market.
What are the major segments of the copper market?
The copper market covered in this report is segmented –
1) By Type: Refining Industry, Metal Processing Industry, Chemical Industry, And Other Types
2) By Mining Type: Underground Mining, Surface Mining
Subsegments:
1) By Refining Industry: Primary Copper Refining, Secondary Copper Refining (Recycling)
2) By Metal Processing Industry: Copper Casting, Copper Rolling And Extrusion, Copper Forging, Copper Drawing
3) By Chemical Industry: Copper Sulfate Production, Copper Chloride Production, Copper Oxide Production
4) By Other Types: Electrical Industry (Cables, Wires), Construction Industry (Copper-Based Alloys, Pipes, Fittings), Automotive Industry (Copper Components), Renewable Energy (Solar Panels, Wind Turbines)
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Which companies dominate the copper market?
Major companies operating in the copper market include Glencore plc, BHP Billiton, Rio Tinto Group, Vale S.A., Zijin Mining Group Co. Ltd., Tongling Nonferrous Metals Group Co. Ltd., Freeport-McMoRan Inc., Codelco, Norilsk Nickel, Grupo México, Teck Resources Ltd., Southern Copper Corporation, First Quantum Minerals Ltd., Antofagasta plc, Jiangxi Copper Co. Ltd., Lundin Mining Corporation, Kaz Minerals PLC, Hudbay Minerals Inc., Capstone Copper Corp., KGHM Polska Miedz S.A., Ero Copper Corp., Copper Mountain Mining Corporation, Sumitomo Metal Mining Co. Ltd., Boliden AB
What major trends will shape the copper market during the forecast period?
Major companies operating in the copper market are adopting a strategic partnership approach to enhance technology integration and expand market reach. A strategic partnership typically refers to a collaborative relationship between two or more organizations where they combine their resources, expertise, and efforts to achieve common goals or objectives. For instance, In October 2024, Schneider Electric, a France-based energy management and automation company, partnered with Glencore plc, a Switzerland based commodity trading and mining company to transform its copper supply chain and advance decarbonization efforts. Through this partnership, Schneider directly sources responsibly obtained, recyclable copper from Glencore and distributes it to its European factories. This collaboration also enables Glencore to adopt sustainable procurement practices for low-carbon capital equipment, aligning with Schneider’s Zero Carbon Project. Furthermore, Schneider supports Glencore with enhanced energy reporting systems, which include fuel-switching options and energy efficiency improvements.
What are the key regional dynamics of the copper market, and which region leads in market share?
The countries covered in the copper market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Copper Market Report 2025 Offer?
The copper market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Copper is a chemical element with the symbol Cu and atomic number 29. Copper is widely used in electrical equipment such as wiring, motors, and electrical cables due to its excellent conductivity properties.
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