Global Oxygen-Free Copper Market Size To Worth USD 34.72 Billion by 2033 | CAGR of 4.98%
Category: Chemicals & MaterialsGlobal Oxygen-Free Copper Market Size To Worth USD 34.72 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Oxygen-Free Copper Market Size is Expected to Grow from USD 21.35 Billion in 2023 to USD 34.72 Billion by 2033, at a CAGR of 4.98% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the "Global Oxygen-Free Copper Market Size, Share, and COVID-19 Impact Analysis, By Grade (Cu-OF and Cu-OFE), By Product (Wires, Strips, Busbars & Rods, and Others), By Application (Electrical & Electronics, Automotive, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."Detailed Report Description Here: https://www.sphericalinsights.com/reports/oxygen-free-copper-market
The oxygen-free copper market is the industry for copper type with very low oxygen content used in electronics, automotive, and renewable energy sectors. Oxygen-free copper is highly recommended for applications requiring higher conductivity and congruences, such as superconducting wires, PCBs, x-ray tubes, vacuum interpreters, rotor bars, and motor coils. The extensive application of oxygen free copper in various sectors such as defense, aerospace, and medical sectors along with the upsurging R&D efforts, modernization, and technical development in manufacturing processes is offering lucrative market growth opportunities. The increasing focus on the use of high-quality materials for defense, aerospace, transportation, and electronics industries is propelling the oxygen-free copper market. The increasing popularity of oxygen-free copper owing to its various applications is driving the market expansion. On the contrary, the specialized refining processes required for the production of oxygen free copper lead to its increased cost is challenging the market growth.
The Cu-OFE segment held the largest revenue share of 57.0% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the grade, the global oxygen-free copper market is divided into Cu-OF and Cu-OFE. Among these, the Cu-OFE segment held the largest revenue share of 57.0% in 2023 and is expected to grow at a significant CAGR during the forecast period. The Cu-OFE’s excellent formability and its capability to be welded and brazed are responsible for driving the market in the Cu-OFE segment.
The wires segment accounted for the largest revenue share of over 30.0% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the product, the global oxygen-free copper market is divided into wires, strips, busbars & rods, and others. Among these, the wires segment accounted for the largest revenue share of over 30.0% in 2023 and is expected to grow at a significant CAGR during the forecast period. The increasing demand for oxygen free copper cables in electrical and electronics engineering and the automobile industry is driving the market demand.
The electrical & electronics segment dominated the market with the largest revenue share of over 34.70% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the global oxygen-free copper market is divided into electrical & electronics, automotive, and others. Among these, the electrical & electronics segment dominated the market with the largest revenue share of over 34.70% in 2023 and is expected to grow at a significant CAGR during the forecast period. The high electrical conductivity and low impurity levels of oxygen free copper are driving the market demand in the electrical & electronics segment.
Asia Pacific is projected to hold the largest share of the global oxygen-free copper market over the forecast period.
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Asia Pacific is projected to hold the largest share of the global oxygen-free copper market over the forecast period. The existing automotive sector, increasing production of electric vehicles, technological competence, and well-established corporations are the factors responsible for driving the regional market growth. The region’s growing consumption of electronic products and electric vehicles along with the industrialization and rising e-commerce sector is driving the market.
North America is predicted to grow at the fastest CAGR in the oxygen-free copper market over the forecast period. The increase in automotive industries as well as its consumption in manufacturing of superconductors, semiconductors, and high-vacuum systems is propelling the oxygen-free copper market. Since oxygen free copper is heavily utilized in electric vehicles, the region’s growing demand for these vehicles is anticipated to escalate the market expansion.
Major key players in the oxygen-free copper market include Hitachi Metals Neomaterial, Ltd., Mitsubishi Materials Corporation, Sam Dong, Copper Braid Products, Hussey Copper Ltd., Aviva Metals, Farmer’s Copper Ltd., Heyco Metals Inc., Cupori, Haviland Enterprises Inc., Metrod Holdings Berhad, Southwire Company, LLC, Wieland, Zheijang Libo Holding Group Co., Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In December 2023, C4V, a Li-Ion battery technology company based in the U.S.A., entered into a Memorandum of Understanding (MOU) with Hindalco Industries for the collaboration in the development and supply of Battery Grade Aluminium foil, Coated Foils, and structural components for Li-ion cells, catering to the growing market for electric vehicle (EV) battery materials.
- In November 2023, Toyota and Redwood Materials expanded a previous agreement for the automaker to source recycled materials for its battery supply chain. Under the expanded partnership, Toyota plans to procure recycled cathode active material (CAM) and anode copper foil from Redwood, according to a Nov. 16 press release.
Market Segment
- This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global oxygen-free copper market based on the below-mentioned segments:
Global Oxygen-Free Copper Market, By Grade
- Cu-OF
- Cu-OFE
Global Oxygen-Free Copper Market, By Product
- Wires
- Strips
- Busbars & Rods
- Others
Global Oxygen-Free Copper Market, By Application
- Electrical & Electronics
- Automotive
- Others
Global Oxygen-Free Copper Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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