Oxygen Free Copper Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
Report ID: GMI1411
Global Oxygen Free Copper Market size is projected to grow at a steady rate in the coming years. Product demand in electronics & electrical industry and automotive industry due to its high conductivity will drive the oxygen free copper market during the forecast years.
Upgrading living standards and increasing purchasing power of people, mostly in the developing economies, will propel the oxygen free copper market. The tremendous growth in the number of electronic gadgets such as cell phones, smart devices, laptops, and television sets across the globe is increasing the product demand. Global electronics industry is growing at a steady rate of about 5% CAGR and was valued at approximately 1.3 trillion in 2013. Cell phones occupy a substantial share of the oxygen free copper market and this trend will continue in the future.
Oxygen free copper market will also witness growth owing to its use in the automotive industry. Healthy growth has been observed in the automotive industry due to improving economic condition of people in many countries. Passenger car sales increased to about 69 million units in 2016 from approximately 56 million units in 2010 while heavy & medium weight commercial vehicles sales increased from around 19 million in 2010 to more than 24 million in 2016 and this trend will propel the oxygen free copper market in the coming years. The ongoing research in the field of vacuum devices such as particle accelerators, where the product finds its use, will also provide growth opportunities for oxygen free copper market in the future.
By grade, oxygen free copper market is divided into two segments viz. Copper oxygen free electronic (Cu-OFE) and copper oxygen free (Cu-OF). Cu-OFE is 99.99% pure copper having an oxygen content of 0.0005%. It has the highest conductivity rating and is also the most expensive. Cu-OF has a lower conductivity rating and is 99.95% pure copper with an oxygen content of 0.001%. This grade will gain popularity at a high rate in the coming years because of its lower costs and its usage in scientific equipment such as superconductors, electromagnets, and magnetometers.
By product, oxygen free copper market is segmented as wires, strips, rods, busbars and others. Wires and strips are the most commonly used forms having a substantial share in the overall oxygen free copper market due to their use in electronic equipment and gadgets. Busbars will likely gain industry share during the forecast period due to its extensive usage in power distribution sector.
Oxygen free copper market end users are electronics & electrical industries, automotive industries and others. Electronics and electrical industry has a significant share and will flourish in the future owing to the product’s usage in this field and growing electronics industry in the Asia Pacific region. Product use in the automotive industry will likely increase during the forecast period due to the significant growth in global automotive sales.
By region, oxygen free copper market is segmented into Asia pacific, North America, Europe, Latin America and Middle East. Asia pacific has a substantial share due to the growing demand for electronic goods in the region. Presence of many electronic and electrical end user companies and manufacturing sites, especially in China, India, and Singapore, will propel the regional industry in the coming years. North America also has a fair share of the oxygen free copper market owing to the high standard of living of people in the U.S. and Canada which creates robust demand for electronic gadgets. This trend will likely continue in the forecast years. The products demand in Europe and Latin America will grow at a steady pace during the forecast period.
Key players in the oxygen free copper market are National Bronze & Metals, Inc, Citizen Metalloys Limited, SH Copper Products Co. Ltd., Mitsubishi Materials Corporation, KGHM Polska MiedY SA, KME Germany GmbH, Luvata, Freeport-McMoRan Inc, Metrod Holdings Berhad, Pan Pacific Copper, Sam Dong America, Cupori Oy, Wieland-Werke AG, Zhejiang Libo Holding Group, and Watteredge LLC.
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