The report "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.
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Browse 150 market data Tables and 36 Figures spread through 168 Pages and in-depth TOC on "Oxygen-Free Copper Market
The automotive segment is projected to grow at the highest CAGR in the oxygen-free copper market during the forecast period
The automotive segment is projected to grow at the highest CAGR in the oxygen-free copper market from 2020 to 2025. The automotive industry, is getting momentum with the advent of electric vehicles (EVs) in emerging countries, for instance, India. Due to their high electrical conductivity, they are also increasingly being used in battery components of EVs. In addition, the rising demand from the automotive and aerospace industries will also drive the growth of this copper type.
COVID-19 impact on global oxygen-free copper market
According to the International Copper Study Group (ICSG), after a small decline of 0.2% in the world copper mine production in 2019, it is expected that 2020 will be the second consecutive year of decline. The world copper mine production is expected to decline by 1.5% in 2020. The expected fall is principally a consequence of the COVID-19 related lockdowns that resulted in temporary mine closures or reduced production levels in many countries, most notably, Peru. The output from new projects, such as Tominskoye and Deziwa, ramp-up mines, such as Cobre de Panama and a significant recovery in Indonesian output will partially offset the reductions resulting from the pandemic. However, despite this additional output, the current ICSG mine production forecast for 2020 is lower than the output of 2019. In 2021, a growth of 4.5% is expected, which will mainly be dependent on global efforts to control the virus.
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Key Market Players
The oxygen-free copper market is dominated by a few globally established players, 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), among others.
