DUBLIN, Feb. 18, 2022 /PRNewswire/ -- The "Oxygen-free Copper Market by Grade, Product Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global oxygen-free copper market was valued at $18.1 billion in 2020 and is projected to reach $30.6 billion by 2030 growing at a CAGR of 5.5% from 2021 to 2030.
The Cu-OF grade copper is oxygen-free up to 99.95%. This grade is among one of the purest forms of copper found till now. The introduction of modern metal refining technology enables the manufacturers to reduce the oxygen content up to a range of 0.001-0.003%.
The growth of the global oxygen-free copper market is driven by an increase in the demand for electrical &electronics. For instance, an increase in demand for computers, mobiles, refrigerators, and other electrical & electronic appliances boosts the growth of the electrical & electronics sector. According to a report published by the National Investment Promotion & Facilitation Agency, the Electronics Manufacturing Service (EMS) industry of India is expected to grow 6.5 times and is expected to reach from $23.5 billion to $152 billion by 2025. Oxygen-free copper is used as a prime material in windings of transformers, refrigerators, and other electronic & electrical products that may lead the oxygen-free copper market to develop significant growth in the electrical & electronics sectors.
However, electrolytic tough pitch (ETP) copper is one of the most used copper after oxygen-free copper among several end user sectors such as electrical & electronics, industrial, and others. It has properties such as tensile strength, proof strength, electrical conductivity, hardness, thermal conductivity, and others that are best suited for winding and tubing applications. This is expected to limit the growth of the oxygen-free copper market during the forecast period.
Oxygen-free copper has potential uses in medical, aerospace & defense, plumbing, and other end user sectors. It is used in defense to wind magnetrons of defense radar system. Moreover, oxygen-free copper is used in fabrication of corrosion-resistant pipes and tubes in the plumbing sector. This factor is anticipated to offer remunerative opportunities for the growth of oxygen-free copper market in the future.
Companies Mentioned
- 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
Market dynamics
Drivers
- Rise in demand from electrical & electronic industry
- Escalating industrial growth
Restraint
- Availability of electrolytic tough pitch (ETP) copper as a substitute product
Opportunity
- Untapped utilization of oxygen-free copper among several end user industries
KEY MARKET SEGMENTS
By Grade
- Cu-OF
- Cu-OFE
By Product Type
- Plate
- Wire
- Strip
- Rod
- Others
By End-Use
- Electrical & Electronics
- Automotive
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/yitnt2
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SOURCE Research and Markets
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