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World Copper Market, Freedonia


News provided by

ReportBuyer

Oct 14, 2015, 07:22 ET

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LONDON, Oct. 14, 2015 /PRNewswire/ --

World demand to rise 4.7% annually through 2019
Worldwide demand for copper metal (produced from refined copper and recycled scrap) is projected to advance 4.7 percent per year to 37.2 million metric tons in 2019. Robust gains in building construction expenditures are expected to boost the use of copper wire, tube, and other mill products in applications such as building wire, plumbing, and architecture. Increased infrastructure investment, particularly in developing countries, will further benefit copper suppliers, as updates to national power grids drive the production of wire and cable. In addition, advances in global manufacturing output are expected to bolster the use of copper metal in industrial machinery, domestic appliances, and other durable goods. Nevertheless, competition from competitive materials, such as plastic pipe in plumbing applications, will restrain faster overall growth.
Production of refined copper to accelerate
Global production of refined copper is forecast to expand 4.6 percent per year to 29.1 million metric tons in 2019. The Asia/Pacific region is expected to see the fastest annual gains, led by increased output in China and India. Electrolytic refining of primary copper will continue to represent the primary method of production in these countries, although recycled scrap will account for a greater share of refined copper output. Downstream copper mills are also expected to increasingly employ recycled scrap as worldwide recovery methods improve. Among other areas, the Africa/Mideast region is forecast to see the fastest gains in refined copper output, particularly in countries such as Congo, where domestic mine production is expanding at a rapid rate. North America is also projected to see copper mine output grow at a strong pace, supported by major expansions in Mexico and Canada.
China dominates demand, India to post fastest growth
China drives the global copper market, accounting for more than 40 percent of worldwide demand. The country's massive building construction and electrical and electronic sectors consume huge volumes of copper in the production of electrical wire, pipe, consumer and business electronics, and telecommunications equipment. Strong domestic output of industrial machinery and household appliances further bolster copper demand in China. India is forecast to register the strongest performance of any major copper market through 2019. Robust increases in domestic building construction, driven in part by an expanding urban population and government investment, will boost copper consumption. Advances in construction spending are also forecast to fuel copper demand in North America, particularly in the US, where building construction activity will significantly accelerate. More moderate increases in copper demand are forecast for Western Europe, where construction and manufacturing output will climb at a belowaverage pace.
Study coverage
Details on these and other key findings are contained in the upcoming Freedonia industry study, World Copper presents historical demand data (2004, 2009, 2014) plus forecasts for 2019 and 2024 by copper metal market, world region, and for 21 major countries. The study also provides historical data and forecasts for refined copper demand and production, smelter production, and mine output in each major country. In addition, the study assesses market environment factors, evaluates company market share, and profiles 30 industry players worldwide.
Download the full report: https://www.reportbuyer.com/product/2912480/

About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com

For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com

SOURCE ReportBuyer

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