What Fueled The Previous Growth In The Low Carbon Copper Market?
The low carbon copper market has seen considerable growth due to a variety of factors.
• In recent times, we've seen a significant growth spurt in the size of the low-carbon copper market. The evolution is anticipated to continue, with progress from $78.07 billion in 2024 to $84.98 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%.
This surge in the historical period can be traced back to factors like the expansion of electrical grids, a rise in per capita copper consumption, a growing demand from the aerospace and aviation sector, a heightened emphasis on diminishing emissions, and increasing consumer awareness and demand.
What Is The Expected Growth In The Low Carbon Copper Market Size Evolve over the Forecast Period?
The low carbon copper market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the low-carbon copper market is expected to witness robust growth, with a projected worth of $117.88 billion in 2029, marking a Compound Annual Growth Rate (CAGR) of 8.5%.
This predicted growth can be connected to factors such as rising copper demand in the domain of energy transition technologies, escalating demand for electric vehicles, a booming construction industry, investor pressure coupled with ESG considerations, and the increasing consumer goods demand. Forecast period trends that will likely lead this growth encompass breakthroughs in technology, renewable energy integration, the rise of novel business models, the adoption of 3D printing techniques, and strategic collaborations.
What Main Forces Are Fueling Expansion In The Low Carbon Copper Market?
The escalating uptake of electric vehicles is predicted to drive the expansion of the low-carbon copper market. An electric vehicle, or EV, relies on one or more electric motors for power, using energy stored in rechargeable batteries or other similar storage mechanisms. The surge in electric vehicles adoption can be attributed to several factors like rising interest in environmentally friendly transportation, environmental concerns, and cost of ownership considerations. Low-carbon copper plays a crucial role in lowering lifecycle emissions from electric vehicles, making them more appealing to consumers and aligning them better with sustainability objectives. For example, the International Energy Agency, a France-based government agency, reported that sales of electric cars spiked in the first quarter of 2023 with over 2.3 million units sold. This represents a 25% increase from the previous year. The forecast suggests that by the end of 2023, sales are likely to reach approximately 14 million, a 35% year-over-year increase. Hence, the rising prevalence of electric vehicle use is fuelling the expansion of the low-carbon copper market.
What Are The Primary Segments In The Global Low Carbon Copper Market?
The low-carbon copper market covered in this report is segmented –
1) By Product Type: Wires, Plates, Sheets And Strips, Tubes, Bars And Sections, Other Product Types
2) By Technology: Electrowinning, Electrolytic
3) By Source: Recycled Copper, Virgin Copper
4) By End-User: Power Generation and Distribution, Building and Construction, Consumer Electronics, Automotive, Other End-Use Applications
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How Are Emerging Trends Reshaping The Dynamics Of The Low Carbon Copper Market?
Prominent businesses in the low-carbon copper market are implementing innovative solutions such as low-carbon copper items, aiming to boost their market revenue. These copper products are designed with significantly reduced CO2 emissions throughout the manufacturing process. For example, Montanwerke Brixlegg AG, a copper processing company based in Austria, introduced a new range of low-carbon copper in March 2022 to establish itself as a premium supplier in the market. The carbon footprint of this copper production is only 0.739 tonnes of CO2 per tonne of copper, considerably lower than the global average of 4.1 tonnes. This is accomplished through proficient production operations that use recycled materials and sources of renewable energy. The copper is entirely made from recycled metal, thus lowering the environmental damage caused by conventional mining and refining techniques. By using hydropower for its energy requirements, the company further decreases emissions and guarantees sustainable production.
Who Are the Key Players In The Low Carbon Copper Market?
Major companies operating in the low-carbon copper market report are:
• Trafigura Group Pte Ltd.
• Jiangxi Copper Corporation
• BHP Group
• Rio Tinto Plc
• Vale S.A.
• Zijin Mining Group Co. Ltd.
• Glencore Plc
• Freeport-McMoRan Inc.
• Codelco
• Aurubis AG
• Mitsubishi Materials Corporation
• Teck Resources Limited
• Newmont Corporation
• Sumitomo Metal Mining Co. Ltd.
• KGHM Polska Miedz S.A.
• Antofagasta Plc
• Boliden Group
• Taseko Mines Ltd.
• Luvata Company Ltd
• Elcowire Group
• Fedral Metal Co.
• ASM Metal Recycling Ltd.
• Romco
• Midwest PGM Recycling Center
• Pan Pacific Copper Co. Ltd.
What Is The Most Dominant Region In The Low Carbon Copper Market?
Asia-Pacific was the largest region in the low-carbon copper market in 2024. The regions covered in the low-carbon copper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
