USD 20.15 billion
Oxygen-Free Copper Market Size, Share, Growth Analysis, By Type(Oxygen-free Electronic (OFE) copper and Oxygen-free Industrial (OFI) copper), By Application(non-destructive testing (NDT) and advanced spectroscopic technique), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15K2002 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
59
|Figures:
75
Oxygen-Free Copper Market Insights
Global Oxygen-Free Copper Market size was valued at USD 20.15 billion in 2022 and is poised to grow from USD 21.26 billion in 2023 to USD 32.62 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).
The global oxygen-free copper market is witnessing steady growth due to the increasing demand from various industries such as electronics, automotive, and aerospace. Oxygen-free copper, also known as oxygen-free high-conductivity (OFHC) copper, is a high-purity copper with minimal oxygen content, resulting in excellent electrical conductivity and high thermal conductivity.
The market is driven by the growing need for efficient and reliable electrical transmission and high-performance electronic components. Oxygen-free copper is widely used in power transmission cables, electrical connectors, printed circuit boards, and heat exchangers, among other applications. Additionally, the increasing adoption of renewable energy sources and the expansion of the electric vehicle industry further propel the demand for oxygen-free copper.
Furthermore, advancements in technology and the ongoing development of new applications are opening up opportunities for market growth. However, factors such as the volatility of raw material prices and the availability of substitutes pose challenges to the market's growth. Overall, the Global Oxygen-free Copper Market is expected to witness a positive growth trajectory in the coming years, driven by increasing demand from multiple sectors.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Oxygen-free Electronic (OFE) copper
Fastest Growth
Oxygen-free Industrial (OFI) copper
Growth Rate
5.5% CAGR
Global Oxygen-free Copper Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Oxygen-Free Copper Market Segmental Analysis
The global oxygen-free copper market is segmented by type, application, and region. Based on type, the market can be segmented into oxygen-free electronic (OFE) copper and oxygen-free industrial (OFI) copper. Based on application, the market is segmented into non-destructive testing (NDT) and advanced spectroscopic technique. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The dominant sub-segment of the type segment in the Oxygen-free Copper market is the Oxygen-free Electronic (OFE) copper. OFE copper is the highest purity grade of oxygen-free copper and is widely used in electronic and electrical applications such as connectors, switches, and integrated circuits. It offers exceptional electrical conductivity, high thermal conductivity, and excellent solderability, making it ideal for critical electronic components.
The fastest-growing sub-segment of the testing type in the Oxygen-free Copper market is the Oxygen-free Industrial (OFI) copper. OFI copper is slightly less pure compared to OFE copper but still offers high electrical and thermal conductivity. It is commonly used in industrial applications such as heat exchangers, power transmission, and electrical grounding. With the increasing demand for efficient and reliable industrial equipment, the OFI copper segment is experiencing significant growth as industries prioritize performance and durability.
Analysis by Application
In terms of the dominant sub-segment of testing type in the Oxygen-free Copper market, non-destructive testing (NDT) is one of the prominent methods used for quality control and assessment. NDT techniques such as ultrasonic testing, eddy current testing, and X-ray testing are widely utilized to ensure the integrity and reliability of oxygen-free copper products. These methods allow for the detection of internal defects and inconsistencies without damaging the material.
As for the fastest growing sub-segment of testing type, advanced spectroscopic techniques are gaining traction. These techniques involve the use of specialized equipment to analyze the composition and purity of oxygen-free copper samples. With the increasing demand for high-quality and high-performance copper products, advanced spectroscopic testing methods offer precise and efficient analysis, enabling manufacturers to meet stringent quality standards and customer requirements.
Global Oxygen-free Copper Market By Type
To get detailed analysis on other segments, Request For Free Sample Report
Oxygen-Free Copper Market Regional Insights
One dominant region in the global oxygen-free copper market is North America. The region has a strong presence of key market players and is characterized by advanced manufacturing capabilities and technological advancements. North America is a major consumer of oxygen-free copper, primarily driven by the demand from industries such as electronics, automotive, and construction. The region's well-established infrastructure and focus on technological innovation contribute to its dominance in the market.
One of the fastest-growing regions in the global oxygen-free copper market is Asia Pacific. The region is experiencing rapid industrialization, urbanization, and infrastructural development, leading to increased demand for oxygen-free copper. Countries like China, India, and Japan are significant contributors to the growth of the market in the region. The rising population, expanding automotive and electronics sectors, and supportive government initiatives are driving the market growth in Asia Pacific. Additionally, the increasing investments in renewable energy projects, such as solar and wind energy, also contribute to the growing demand for oxygen-free copper in the region.
Global Oxygen-free Copper Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Oxygen-Free Copper Market Dynamics
Drivers
Increasing Demand From Various End-Use Industries Such As Electrical And Electronics, Automotive, And Aerospace
- One driver of the global market is the increasing demand from various end-use industries such as electrical and electronics, automotive, and aerospace. Oxygen-free copper offers excellent electrical conductivity and high thermal conductivity, making it suitable for applications that require efficient heat dissipation and reliable electrical performance. The growing need for high-performance electronic devices and advanced automotive systems drives the demand for oxygen-free copper.
Restraints
Volatility Of Copper Prices
- On the other hand, a restraint of the global market is the volatility of copper prices. Copper is a globally traded commodity, and its prices are influenced by various factors such as supply and demand dynamics, geopolitical events, and macroeconomic conditions. Fluctuations in copper prices can affect the profitability of manufacturers and increase the overall cost of production. This can pose challenges for market players in terms of pricing strategies and profit margins.
Request Free Customization of this report to help us to meet your business objectives.
Oxygen-Free Copper Market Competitive Landscape
The global market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Oxygen-free Coppers. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Top Player’s Company Profiles
- Freeport-McMoRan Inc. (United States)
- KME Germany GmbH & Co KG (Germany)
- Mitsubishi Materials Corporation (Japan)
- Aurubis AG (Germany)
- KGHM Polska Miedź S.A. (Poland)
- Wieland-Werke AG (Germany)
- Pan Pacific Copper Co., Ltd. (Japan)
- Sam Dong Co., Ltd. (South Korea)
- Hitachi Metals, Ltd. (Japan)
- Jiangxi Copper Corporation (China)
- Luvata (Finland)
- Poongsan Corporation (South Korea)
- MKM Mansfelder Kupfer und Messing GmbH (Germany)
- Watteredge LLC (United States)
- Nippon Mining & Metals Co., Ltd. (Japan)
- Dowa Holdings Co., Ltd. (Japan)
- Mueller Industries, Inc. (United States)
- Metelec Ltd. (United Kingdom)
- Kobe Steel, Ltd. (Japan)
- MKM Mansfelder Kupfer und Messing GmbH (Germany)
Recent Developments
- In May 2023, Global Copper Solutions, a key player in the oxygen-free copper market, entered into a strategic partnership with a renewable energy project to supply oxygen-free copper for the construction of high-efficiency electrical infrastructure. The collaboration aims to support the transition towards sustainable energy solutions by providing reliable and efficient copper materials.
- In June 2023, Innovacorp, a leading technology and innovation company, unveiled a new initiative focused on the recycling of oxygen-free copper materials. The program aims to promote environmental sustainability by recovering and reusing copper resources, reducing waste, and minimizing the need for new copper extraction.
- In July 2023, Prime Materials Recovery, Inc. announced the contracting of an SCR 4500 copper rod system from the Southwire Company for installation at its subsidiary, IMC - Metals America, LLC in Shelby, NC. This new line will be installed in a purpose-built plant at the existing site and will mark PMR/IMC's entry into the ETP copper rod market. IMC will also be increasing OF (oxygen free) copper rod production capacity with the purchase and installation of a new line from Upcast OY based in Pori, Finland.
Oxygen-Free Copper Key Market Trends
- One key market trend in the global oxygen-free copper market is the increasing demand from the electronics industry. Oxygen-free copper, also known as OFC, is widely used in the manufacturing of electrical and electronic components due to its high electrical conductivity and superior corrosion resistance. With the growing demand for advanced electronic devices, such as smartphones, tablets, and electric vehicles, the need for high-quality copper with minimal impurities has surged. The trend towards miniaturization and increased functionality of electronic devices further drives the demand for oxygen-free copper as it enables efficient power transmission and signal conductivity, making it a preferred choice in the electronics industry.
Oxygen-Free Copper Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global oxygen-free copper market is a thriving industry that encompasses the production, distribution, and consumption of high-quality copper with low oxygen content. Oxygen-free Copper, also known as OFC, is widely used in various applications such as electrical and electronic equipment, automotive, aerospace, and telecommunications. The market is driven by the increasing demand for high-performance copper materials that offer excellent conductivity, thermal stability, and corrosion resistance. Moreover, the growing adoption of renewable energy sources and the development of advanced technologies like electric vehicles and 5G communication systems are further fueling the demand for Oxygen-free Copper. With key players investing in research and development activities to enhance the quality and performance of OFC, the market is expected to witness significant growth in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 20.15 billion |
| Market size value in 2031 | USD 32.62 billion |
| Growth Rate | 5.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Oxygen-Free Copper Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Oxygen-Free Copper Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Oxygen-Free Copper Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Oxygen-Free Copper Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Oxygen-Free Copper Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Oxygen-Free Copper Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
