Published on : Jun 20, 2016
Copper is a malleable, ductile, and soft metal that comprises a very high electrical and thermal conductivity. It has a reddish-orange appearance and is considered as one of the best conductors of electricity and heat. In addition, it is quite versatile in nature with exceptional aesthetic, physical, and chemical properties. A huge quantity of copper is available across the globe; nevertheless, only a small quantity of these reserves are economically viable.
Copper is used extensively in diverse sectors such as electrical and electronic products, construction, transportation, industrial, electrical and electronic products, consumer products and others. Thus, the demand for copper is very high in almost all parts of the world. The increasing demand for copper worldwide, owing to its diverse applications is one of the prominent factors projected to fuel the growth of the global copper market in the next few years.
Copper is available in different forms based on its application. Some of the forms are:
- Rods, Bars, and Sections
- Wire Rod
- Powder and Tube
- Plates, Sheets, and Strips
At present, the competitive scenario of the global copper market is comparatively stiff and is estimated to intensify in the coming years. The increasing number of players is another factor bolstering the growth of the global copper market. Some of the leading players engaged in the market are Grupo Mexico, BHP Billiton Ltd., Glencore, Codelco, Freeport McMoRan Inc., and Aurubis AG.
Increasing Use of Copper in Green Buildings to Drive Global Copper Market
The concept of green buildings adopted by several developing countries across the globe makes use of copper for construction purpose. This has created potential opportunities for the major players operating in the global copper market to expand their product horizon and gain the competitive advantage. However, the growing competition from substitute materials is considered to hamper the growth of the global copper market in the next few years.
Among the major geographical segments, at present, Asia Pacific accounts for the largest share in the global copper market and is anticipated to remain in the leading position in the next few years. Rapid urbanization and industrialization in this region are the major factors contributing substantially towards the growth of the market.