Global Copper Market: Insights & Forecast with Potential Impact of COVID-19 (2021-2025)

The global refined copper production is expected to reach 27.61 million tonnes in 2025, growing at a CAGR of 2.94%, for the time period 2021-2025. Factors such as rising copper annual capacity in renewable energy, growing use of copper in smart home appliances, expansion of construction industry, increasing manufacturing of electrical equipment and growth in scrap copper supply would drive the growth of the industry. However, the growth would be challenged by a decline in copper ore grades and challenges of more mineral waste from the copper industry. A few notable trends may include an upsurge in copper consumption in passenger vehicles, accelerating copper demand in China and new copper mine projects in the pipeline. 

Copper is considered as an important element of economic growth worldwide. An increase in the price of copper is an indication that the global economy is recovering from the COVID-19 disruption. Copper is outperforming other base metals such as aluminium and zinc due to its high demand for industrial applications, which is contributing to the growth of the global copper market.

The fastest-growing regional market was Asia Oceania, due to the massive consumption of copper in construction and manufacturing industries, particularly in China. However, the outbreak of the COVID-19 pandemic has caused supply chain disruption, due to the closure of major mining sites as well as manufacturing facilities, which led to the decline in the global copper market in 2020. 

Scope of the report:

• The report provides a comprehensive analysis of the global copper market. 
• The major regional markets (Asia Oceania, Europe, North America, Latin America, Middle East & Africa and ROW) have been analyzed in detail. 
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 
• The competitive landscape of the market, along with the company profiles of leading players (Glencore BHP Billiton, Anglo American, Freeport-McMoRan, Southern Copper Corporation and First Quantum Minerals) are also presented in detail.

Key Target Audience:

• Copper Manufacturers
• Supply Chain Partners
• End Users (Automotive, Construction, Solar Energy, E&E, etc.) 
• Consulting Firms 
• Investment Banks
• Government Bodies & Regulating Authorities