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The copper cathode market size is estimated to increase by USD 7,820.41 million between 2023 and 2027. The market size is forecast to grow at a CAGR of 5.9%. The growth of the market depends on several factors, such as the rising demand for copper cathode from the construction, electronics, and automotive industries, the rise in industrialization and urbanization, and stringent environmental regulations to promote the use of recycled metals.
Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
There is an increase in demand from various industries, namely construction, electronics, and automotive industries. Factors such as population growth, urbanization, technological advancements, and increased automobile production are significantly contributing to this rising demand.
The main application in the construction industry is for electrical wiring and plumbing systems. Additionally, there is an increasing demand for copper in construction projects as several countries experience urbanization and expand their infrastructure. For example, copper wiring is a vital part of residential buildings, especially for powering electrical appliances, lighting, and heating systems. Hence, such factors positively impact the market growth which in turn will drive the market growth during the forecast period.
There is an increase in efficiency due to several technological advancements over the years. The emergence of technological advancements has significantly revolutionized the metal industry landscape by enhancing production processes and reducing costs. Advanced electrolytic refining techniques is one of the main technological advancements in the global industry.
The main advantage of advanced electrolytic refining techniques is that they can be used to remove the impurities present and thereby improving the overall efficiency. This process includes the use of innovative electrolytic cells that facilitate the extraction of pure copper from impure cathodes. Hence, such technological advancements are expected to drive the global market during the forecast period.
Interest rates, economic growth, the availability and attractiveness of substitute goods, and political considerations are some of the key factors influencing the price fluctuations of the metal. This price volatility of copper is significantly impacting global demand as the metal is the world's third-largest consumed metal after iron and aluminum.
Additionally, the changing rate of the US dollar, volatility in oil prices, and collateral demand for the metal in China are some of the other factors impacting the global prices of copper. Furthermore, the rising cost of the metal has led to fluctuations in the demand-supply gap, which is negatively impacting end-user industries. Hence, such fluctuations in prices of the metal are negatively impacting the market which in turn will hinder the global market during the forecast period.
The consumer durable goods segment is estimated to witness significant growth during the forecast period. There is an increasing adoption in the manufacturing of different consumer durable goods due to their exceptional conductivity and corrosion resistance properties. In consumer durable goods segments, the main application in the manufacturing of electrical and electronic appliances, such as refrigerators, air conditioners, televisions, and washing machines.
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The consumer durable goods segment was the largest segment and was valued at USD 6,233.97 million in 2017. The main application in the consumer electronic goods segment is in the production of refrigerators. As the metal is known for its excellent heat conductivity, it is widely adopted for manufacturing the coils in refrigerators which efficiently transfer heat from the interior of the fridge to the exterior, thereby cooling the contents inside. Thus, the high thermal conductivity offered ensures that the refrigerators function optimally, offering effective cooling and prolonging the shelf life of perishable food items. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Based on technology, the segment is classified into electro-refining and smelting. Electro-refining can be referred to as the process of purifying through electrolysis. It is one of the essential processes that help in manufacturing high-quality with a purity level of 99.99%. Copper is considered one of the vital components in the electronics industry and is widely used in many applications such as printed circuit boards, wires, and connectors. The main purpose of electro-refining is that it helps to eliminate these impurities and manufacture cathodes that meet the strict quality requirements of the electronics industry. Thus this process enables the continuous production of the metal with excellent purity. Hence, such benefits are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 63% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Some of the key factors that are significantly contributing to the growth of the global market growth in APAC are rapid industrialization, increasing population, and rising infrastructure development. Another significant factor that fuels the demand are the expansion of manufacturing industries in the region. There is an increase in the production of various goods and commodities in several APAC countries such as China, Japan, South Korea, and India, resulting in an increase in demand. Furthermore, the increase in construction activities such as residential, commercial, and industrial buildings is also positively impacting the market. Hence, such factors are expected to drive the global market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Antofagasta plc: The company offers copper cathodes using solvent extraction and electrowinning process.
Aurubis AG: The company offers copper cathodes such as NA ESN, HK, OLEN, and PIRDOP.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Bhagyanagar India Ltd., BHP Group plc, China Daye Non-Ferrous Metals Mining Ltd., Corporacion Nacional del Cobre de Chile, ENEOS Holdings Inc, First Quantum Minerals Ltd., Freeport McMoRan Inc., Glencore Plc, Hindalco Industries Ltd., Hindustan Copper Ltd., KAZ Minerals, MMG Ltd., Shanti Group Of Industries, Southern Copper Corp., Sumitomo Metal Mining Co. Ltd., Tongling Nonferrous Metals Group Co. Ltd., ZIJIN MINING GROUP CO. LTD, and Jiangxi Copper Co. Ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is witnessing remarkable growth due to advancements in refining technology, resulting in high-grade cathode specifications to meet stringent requirements. Cathodes, such as cast rods, undergo meticulous cathode sampling to ensure compliance with Standard Quality Levels and High-Quality Levels. Primarily used in the conductor industry for electronic products, copper cathodes exhibit superior conductivity of electricity. Electrolytic refining technology plays a crucial role in precipitating copper, enhancing its conductivity and resistance characteristics. Businesses are formulating strategic plans and presentations to capitalize on the expanding copper cathode market, driven by the growing demand for high-quality conductors in various applications across the cable and wire industry and other electronic products sectors.
Copper Cathode Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.9% |
Market growth 2023-2027 |
USD 7,820.41 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.34 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 63% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Antofagasta plc, Aurubis AG, Bhagyanagar India Ltd., BHP Group plc, China Daye Non Ferrous Metals Mining Ltd., Corporacion Nacional del Cobre de Chile, ENEOS Holdings Inc, First Quantum Minerals Ltd., Freeport McMoRan Inc., Glencore Plc, Hindalco Industries Ltd., Hindustan Copper Ltd., KAZ Minerals, MMG Ltd., Shanti Group Of Industries, Southern Copper Corp., Sumitomo Metal Mining Co. Ltd., Tongling Nonferrous Metals Group Co. Ltd., ZIJIN MINING GROUP CO. LTD, and Jiangxi Copper Co. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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