Oxygen-Free Copper Market Driver: Growing demand in the electronics & electrical end-use industry

May 06 21:25 2022
Oxygen-Free Copper Market Driver: Growing demand in the electronics & electrical end-use industry
Browse 150 market data Tables and 36 Figures spread through 168 Pages and in-depth TOC on “Oxygen-Free Copper Market”
Oxygen-Free Copper Market by Grade (Cu-OF, Cu-OFE), Product Form (Wire, Strips, Busbar & Rod, Others), End-use Industry (Electronics & Electrical, Automotive, Others), & Region

The oxygen-free copper market is projected to grow from USD 19.9 billion in 2020 to USD 25.9 billion by 2025, at a CAGR of 5.3% during the forecast period. 

Electronics & electricals is a highly-fragmented industry, which is growing at a rapid pace with increasing demand from emerging economies in China, India, and Brazil. Copper is a widely used metal in the manufacturing of several applications in electronics and electrical goods. With technological advancements and the requirement for pure copper metals & alloys, various grades of oxygen-free copper are used in manufacturing equipment and components in this industry. Properties of oxygen-free copper, such as its high electrical and thermal conductivity, make it suitable for use in printed circuit boards (PCBs), semiconductors, and superconductors, among other applications.

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The electronics & electrical industry is expected to grow rapidly in the near future owing to the continuous research & development (R&D) and technological advancements in the industry. According to the Electronics Industries Association of India (ELCINA), the global electronics hardware sector was valued at USD 2 trillion in 2018. The electronics & electrical industry is the major end-use industry in the oxygen-free copper market accounting for about 76% of the market share in terms of value. Therefore, the global demand for electronics and electrical goods will accelerate the growth of oxygen-free copper. The adoption of nanotechnology in this industry will also lead to the demand for pure or oxygen-free copper. In addition, this industry provides its products to various other industries, such as the medical, telecommunications, and automotive These industries require electrically conductive materials and are significant consumers of oxygen-free copper products. Hence, the electrical & electronics industry is a major driver of the growth of the oxygen-free copper market.

The Asia Pacific is the most attractive market for oxygen-free copper due to the rapid socio-economic development in the region. This region is a prospective market for the growth and demand of electronics & electrical and automotive, among other industries. Countries in this region such as Japan, China, Korea, Taiwan, India, and Singapore are primary centers for manufacturing and sale of electrical & electronic goods, which are the major end-users of oxygen-free copper. The Asia Pacific region is a lucrative market for automobiles and is witnessing a shift toward EVs, such as Hybrid Electric Vehicles (HEVs).

The oxygen-free copper market is dominated by major players such as KGHM Polska Miedz SA (Poland), Hitachi Metals Neomaterials Ltd. (Japan), Zhejiang Libo Holding Group (China), Mitsubishi Materials Corporation (Japan), Metrod Holdings Berhad (Malaysia), Aviva Metals (US), KME Germany GmbH (Germany), and Sam Dong (South Korea). These players have adopted growth strategies, such as acquisitions and expansions to further expand their presence in the global oxygen-free copper market. Aqcuisitions were the most dominating strategy adopted by major players from 2017 to 2020, which helped them to expand their global presence and broaden their customer base. 

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