Oxygen-Free Copper Market by Grade (Cu-OF, Cu-OFE), Product Form (Wire, Strips, Busbar & Rod, Others), End-use Industry (Electronics & Electrical, Automotive, Others), & Region - Global Forecast to 2025

Oxygen-Free Copper Market by Grade (Cu-OF, Cu-OFE), Product Form (Wire, Strips, Busbar & Rod, Others), End-use Industry (Electronics & Electrical, Automotive, Others), & Region - Global Forecast to 2025

The oxygen-free copper market is projected to grow from USD 19.9 billion in 2020 to USD 25.9 billion by 2025, at a CAGR of 5.3% during the forecast period. The oxygen-free copper market has grown considerably in recent years owing to the growth in the electronics & electrical and automotive industries worldwide. The rising demand for high-quality materials in the aerospace, defense, and transportation industries along with the development of the electronics market in the emerging economies, such as China, Brazil, and India has accelerated the growth in the market.

“In terms of value & volume, Wire segment is projected to lead the oxygen-free copper market in 2019.”
The wire segment is projected to lead the oxygen-free copper market, in terms of both value & volume, during the forecast period. Oxygen-free copper wires are most frequently used in high-end audio and video systems and for individual oxygen-free copper wiring custom assemblies. Oxygen-free copper is used for speaker wires, audio/video cables, assemblies, and amplifier wires. Oxygen-free copper wires have advantages, such as higher conductivity and ability to transfer low-frequency sounds over normal copper wires.

“The automotive segment is projected to be the fastest-growing segment by end-use industry throughout the forecast period.”
The automotive segment is projected to be the fastest-growing segment by end-use industry throughout the forecast period. The sales of EVs have been increasing globally, especially in developed regions like North America and Europe. The growing concerns over environmental pollution is driving the market of these vehicles worldwide. The increase in EV sales is also driven by favorable government policies and subsidies and heavy investments from automakers. According to International Energy Agency (IEA), the sales of electric cars reached were 2.1 million units, globally, in 2019, surpassing 2018 sales to boost the total number of EVs currently on the road to 7.2 million.

“In terms of both value and volume, the Asia Pacific oxygen-free copper market is projected to grow at the highest CAGR during the forecast period.”
Asia Pacific is a major consumer of oxygen-free copper accounting for the largest share in the oxygen-free market. This region is a prospective market for the growth and demand of the electronics & electrical and automotive, among other industries. Countries in this region such as Japan, China, Korea, Taiwan, India, and Singapore are primary centers for manufacturing and sale of electrical & electronic goods, which are the major end users of oxygen-free copper. The Asia Pacific region is a lucrative market for automobiles and is witnessing a shift toward EVs, such as Hybrid Electric Vehicles (HEVs).

China is a major market for oxygen-free copper in the Asia Pacific region, owing to the high production as well as consumption of electrical & electronic goods. Japan is a technologically-advanced country and is also a significant market for this copper type. China and India have become the principal centers for manufacturing and assembling of electronics & electrical and automotive products. In addition, the growing e-commerce industry in Asia Pacific has accelerated the demand for electronic goods. Asia Pacific offers cheap labor and availability of raw materials, which eventually reduces the manufacturing cost of producers. The high population in China and India and increasing standards of living have attracted foreign investments in the manufacturing sector in this region. Thus, the growing demand from the Asia Pacific region is expected to be a major market driver.

By Department: Sales/Export/Marketing: 54%, Production: 23%, and CXOs: 23%
By Designation: Managers: 61%, CXOs: 23%, and Executives: 16%
By Region: North America: 33%, Europe: 27%, Asia Pacific: 25%, Middle East & Africa: 10%, and South America: 5%

The global oxygen-free copper market comprises major manufacturers, such as KGHM Polska Miedz SA (Poland), Hitachi Metals Neomaterials Ltd. (Japan), Zhejiang Libo Holding Group (China), Mitsubishi Materials Corporation (Japan), Metrod Holdings Berhad (Malaysia), Aviva Metals (US), KME Germany GmbH (Germany), and Sam Dong (South Korea).

Research Coverage
The market study covers the oxygen-free copper market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on grade, product form, end-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the oxygen-free copper market.

Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall oxygen-free copper market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.