Increase in demand from the electrical & electronics industry and surge in industrial growth drive the global oxygen-free copper market. However, availability of electrolytic tough pitch (ETP) copper as an alternative hinders the market growth. On the contrary, untapped utilization of oxygen-free copper among end-user industries is expected to open new opportunities for the market players in the future.
As per the report, the global oxygen-free copper market was accounted for $18.1 billion in 2020, and is expected to reach $30.6 billion by 2030, growing at a CAGR of 5.5% from 2021 to 2030.
Oxygen-free Copper Market Segment Overview
The electrical & electronics segment dominated the market
By end use, the electrical & electronics segment held the lion’s share in 2020, contributing to around two-thirds of the global oxygen-free copper market. In addition, the same segment is estimated to manifest the highest CAGR of 5.7% from 2021 to 2030, due to rise in demand for electronics such as mobiles, laptops, and others. The report includes an analysis of segments such as automotive and others.
The Cu-OF segment held the largest share
By grade type, the Cu-OF segment held the largest share in 2020, accounting for nearly two-thirds of the global oxygen-free copper market. Moreover, the same segment is expected to register the highest CAGR of 5.6% during the forecast period, owing to rise in utilization of Cu-OF grade oxygen-free copper in manufacturing thermoelectric wires in the electrical & electronics sector. The report includes an analysis of the Cu-OFE segment.
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By product type, the market is segregated into plate, wire, strip, rod, and others. The plate product type dominated the global market in terms of revenue in 2020. the increasing establishments of nuclear power projects in both developed and developing economies where plate type oxygen-free copper is widely used in manufacturing missile components and nuclear materials storage may create lucrative opportunities for the market during the forecast period.
Asia-Pacific, followed by North America, held the largest share
By region, the market across Asia-Pacific, followed by North America, dominated in terms of revenue in 2020, holding more than two-fifths of the market. Moreover, the same region is projected to portray the highest CAGR of 6.1% during the forecast period, owing to rise in demand for consumer electronic products such as TV, computers, and others that use oxygen-free copper as main materials for winding applications. The report includes an analysis of the global oxygen-free copper market across Europe, North America, and LAMEA.
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Oxygen-free Copper Market Key Players
- Hitachi Metals Neomaterial Ltd.
- Zhejiang Libo Holding Group Co. Ltd.
- Sam Dong
- Copper Braid Products
- Hussey Copper
- Wieland
- Southwire Company LLC
- Cupori Oy
- Mitsubishi Materials Corporation
- Metrod Holdings Berhad
The report analyzes these key players in the global digital market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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