Rapid Industrialization and Urbanization to Augment Growth of Global Copper Market

Published By : 21 Oct 2016 | Published By : QYRESEARCH

Copper is soft and ductile metal that is used extensively across the globe for diverse applications. Copper comprises high thermal and electrical conductivity, owing to which it is considered as one of the best conductors of heat and electricity. As a result, the demand for copper is expected to grow significantly across the globe. Furthermore, the rising demand for copper, thanks to its several applications is one of the key factors supplementing the growth of the global copper market in the coming years.

Some of the key applications of copper include transportation, electrical and electronic products, construction, consumer products, and others. Wire rod, rods, bars, and sections, powder and tube, plates, sheets, and strips, and others are some of the different forms of copper that are used for diverse applications. The emergence of green building concept is promoting the use of copper for construction purpose. The high rate of adoption of this concept by different emerging nations is further expected to encourage the growth of the overall market in the next few years.

Among the key geographical segments, Asia Pacific is presenting topmost the global copper market and is likely to remain in the leading position in the coming years. The fast pace of industrialization and urbanization is the key factor expected to fuel the growth of the copper market in Asia Pacific. The growing demand for electricity in developing countries around the world are estimated to offer potential opportunities for the key players operating in it. 

The global copper is extremely fragmented and competitive in nature with a presence of a large number of players operating across the globe. Some of the key players are Codelco, Rio Tinto, BHP Billiton, KGHM Polska Miedz, Freeport McMoran Inc., Anglo America, Glencore, and Antofagasta. These players are focusing on product innovation and customization in order to maintain the leading position in the market. The growing competition in this market is expected to attract several players in the next few years.

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