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.
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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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