Global Copper Products Market

Governments from various countries around the world have temporarily shut down the production and supply chain of various industries and organizations as well have asked people to stay at home due to COVID-19 pandemic. Thus, Copper-based product manufacturing companies are facing challenges to survive in the market. The metal is used in various industries including industrial machinery, transportation, wire & cable, architecture, building construction, electrical & electronic devices, and others due to their electrical and thermal conductivity. The rapid urbanization and industrialization in emerging economies and growth in the electronics & electrical industry are the few factors responsible for the growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliances by market key players will create a lucrative demand for this market. For instance: as per Company’s news release in April 2019, Wieland Group and Global Brass and Copper signed a Merger Agreement, in which Wieland Group acquired Global Brass and Copper. This agreement will allow increasing the manufacture, distribution of over 90 facilities and about 9000 employees serving the wide variety of industries in North America, Asia, and Europe. However, high competition from substitute materials, namely, PVC, aluminum, and others are the major factors restraining the growth of the global Copper Products market during the forecast period.

Global Copper Products Market is valued approximately at USD 259.2 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 1.81 % over the forecast period 2021-2027 and is estimated to reach USD 293.3 Billion by 2027.

The regional analysis of the global market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading/significant region across the world. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2026.

Major market players included in this report are Wieland Copper Products, LLC, Gulf Copper and Manufacturing, Corporation, First Quantum Ltd., E&M Copper Products, ASARCO LLC, Premier Copper Products, Aurubis AG, Jiangxi Copper, and Hailiang Group Co., Ltd.

The detailed segments and sub-segment of the market are explained below:

By Product Type: Plates, Strips, Foils, Tubes, Rods, Wires and Profiles

By Application: Corrosion Resistance Part, Electrical Conductivity Part, Structural Part

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Bizwit Research & Consulting LLP