Oxygen Free Copper Market Growth Analysis | 2022-2028

Market Insights

The oxygen free copper market was estimated at USD 18.1 billion in 2021 and is likely to grow at a CAGR of 5.1% during 2022-2028 to reach USD 24.5 billion in 2028.

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Market Dynamics

Introduction

Oxygen free copper (OFC), also known as oxygen-free high thermal conductivity (OFHC) copper, has low oxygen content. OFC is used in various applications, including electrical and electronic products, high-end audio equipment, vacuum tubes, and other high-performance components. OFC has high thermal and electrical conductivity, low thermal expansion, and excellent solderability, making it an ideal material for many applications.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the oxygen-free copper market. The global lockdowns and economic slowdowns caused by the pandemic led to a decrease in demand for many products and services, including oxygen-free copper. The disruptions in supply chains, trade restrictions, and reduction in workforce availability have also impacted the production and distribution of oxygen-free copper products.

However, the impact of the pandemic has not been entirely negative. The increasing demand for digital devices and home appliances during the pandemic has led to a surge in demand for copper products, including oxygen-free copper. The growth in the renewable energy sector and electric vehicle market has also increased demand for copper products.

The pandemic has also led to changes in consumer behavior, with a growing focus on sustainability and renewable energy sources. This has created new opportunities for oxygen-free copper products as it is a sustainable and environmentally friendly material.

Overall, the COVID-19 pandemic has had a mixed impact on the oxygen-free copper market. While the initial disruption caused a decrease in demand and production, the increasing focus on sustainability and renewable energy sources presents new opportunities for the market in the long term.

Market Drivers

The oxygen free copper market is expected to grow at a significant rate due to increasing demand from various end-use industries, such as automotive, aerospace, electrical electronics, and others. The growth of the market is also driven by the increasing demand for high-performance electronic products, rising demand for electric vehicles, and growing investments in renewable energy sources. The automotive industry is one of the major end-users of oxygen free copper as it is used in various components such as batteries, wiring harnesses, connectors, and sensors.

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Key Players

The key players in the market are focusing on expanding their production capabilities, developing new and innovative products, and strategic partnerships and collaborations to gain a competitive edge in the market. The increasing demand for sustainable materials and the growing adoption of renewable energy sources are driving the growth of the oxygen-free copper market, and companies are investing in research and development to meet the evolving needs of various industries.

The following are the key players in the market:

• Aviva Metals
• Citizen Metalloys Limited
• Copper Braid Products
• Cupori Oy
• Farmers Copper
• Furukawa Electric Co., Ltd
• Hussey Copper
• KGHM
• KME Mansfeld GmbH
• KME
• Luvata
• Metrod Holdings Berhad
• Millard Wire & Specialty Strip Co.
• Mitsubishi Materials Corporation
• Pan Pacific Copper co., Ltd.
• Sam Dong America
• Sequoia Brass & Copper
• Shanghai Metal
• Wieland Group

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Grade Type

"Cu-OF segment is expected to hold a larger market share during the forecast period."

Cu-OF or Oxygen-Free High Conductivity Copper is a type of oxygen-free copper that has high electrical conductivity and is used in various applications, including electrical and electronic equipment, transformers, and motors. Cu-OFE or Oxygen-Free Electronic Grade Copper is a type of oxygen-free copper that has higher purity than Cu-OF and is used in applications where high electrical conductivity and purity are essential, such as in semiconductors and sensitive electronic equipment.

The Cu-OF segment is expected to hold a larger market share due to its high conductivity and extensive use in various applications. However, the Cu-OFE segment is expected to grow at a faster rate due to the increasing demand for high-purity copper in the electronics and semiconductor industries.

The increasing adoption of renewable energy sources, electric vehicles, and the growing demand for digital devices are driving the growth of the oxygen-free copper market. As a result, companies are focusing on developing new and innovative oxygen-free copper products that can meet the evolving needs of various industries.

By Product Type

"Wires segment is expected to hold the largest market share during the forecast period."

Oxygen-free copper wires are used in various applications, including electrical and electronic equipment, telecommunications, and aerospace. Oxygen-free copper strips are used in various applications, including transformers, motors, and generators. Oxygen-free copper busbars and rods are used in various applications, including electrical distribution systems, switchgear, and transformers. Other oxygen free copper products include tubes, sheets, plates, and foils, which are used in various applications, including heat exchangers, solar panels, and electrical connectors.

The wires segment is expected to hold the largest market share due to the increasing demand for digital devices, telecommunications, and electrical equipment. The busbars and rods segment is expected to grow at a faster rate due to the increasing demand for energy-efficient electrical distribution systems and switchgears.

The oxygen-free copper market is driven by the increasing demand for sustainable and environmentally friendly materials. The growth in the renewable energy sector, electric vehicles, and the demand for high-performance electronics is driving the growth of the market. Companies are investing in research and development to develop new and innovative oxygen-free copper products that can meet the evolving needs of various industries.

Regional Insights

"North America market is expected to hold a significant market share during the forecast period."

The North America market is expected to hold a significant market share due to the presence of major copper manufacturers and the increasing demand for oxygen free copper products in various industries, including renewable energy and electrical.

The Europe region is expected to grow at a moderate rate due to the increasing demand for sustainable materials and the adoption of renewable energy sources. The Asia-Pacific region is expected to grow at the highest rate due to the increasing demand for oxygen-free copper products in countries such as China, India, and Japan. The growth in the electronics, telecommunications, and automotive industries is driving the demand for oxygen-free copper products in the region.

The increasing adoption of sustainable materials and the growing demand for renewable energy sources are driving the growth of the market in various regions. Companies are focusing on expanding their production capabilities and developing new and innovative oxygen-free copper products to meet the growing demand from various industries in different regions.

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Product Development

Several companies have invested significantly in the oxygen free copper market in recent years. Some of the major players in the market include:

• KGHM Polska Miedz SA is one of the largest copper producers in the world and offers oxygen-free copper products for various industries, including automotive, electrical, and telecommunications.
• Mitsubishi Materials Corporation is a manufacturer of copper products and offers oxygen-free copper for various applications, including semiconductors and aerospace.
• Watteredge LLC is a manufacturer of copper products and offers oxygen-free copper for use in welding applications, electrical connectors, and grounding applications.
• Cupori Oy is a Finnish copper manufacturer and offers oxygen-free copper products for various applications, including telecommunications and electrical.
• Luvata is a global copper manufacturer and offers oxygen-free copper products for various industries, including renewable energy and electrical.

These companies have made significant investments in research and development to improve the quality and performance of oxygen-free copper products. They are also investing in expanding their production capabilities to meet the growing demand for copper products in various industries.

The increasing demand for sustainable and environmentally friendly materials has also created new opportunities for companies in the oxygen-free copper market. As a result, companies are focusing on developing new products and solutions that can meet the evolving needs of their customers and the market.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s oxygen free copper market realities and future market possibilities for the forecast period of 2022 to 2028. After a continuous interest in our oxygen free copper market report from the industry stakeholders, we have tried to further accentuate our research scope to the oxygen free copper market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The oxygen free copper market is segmented into the following categories:

By Grade Type

• Cu-OF
• Cu-OFE

By Product Type

• Wires
• Strips
• Busbars
• Rods
• Others

By End Use Industry Type

• Electrical & Electronics
• Automotive
• Industrial
• Others

By Region 

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.