Global Copper Market to Reach 26.7 Million Metric Tons by 2027
Amid the COVID-19 crisis, the global market for Copper estimated at 23.8 Million Metric Tons in the year 2020, is projected to reach a revised size of 26.7 Million Metric Tons by 2027, growing at a CAGR of 1.7% over the analysis period 2020-2027. Electrical & Electronics, one of the segments analyzed in the report, is projected to record a 2.2% CAGR and reach 11.3 Million Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Building & Construction segment is readjusted to a revised 1.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at 6.4 Million Metric Tons, While China is Forecast to Grow at 3.5% CAGR
The Copper market in the U.S. is estimated at 6.4 Million Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 5.2 Million Metric Tons by the year 2027 trailing a CAGR of 3.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.1% and 1.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.6% CAGR.
Transportation Segment to Record 1.8% CAGR
In the global Transportation segment, USA, Canada, Japan, China and Europe will drive the 1.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of 2.1 Million Metric Tons in the year 2020 will reach a projected size of 2.4 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 3.5 Million Metric Tons by the year 2027, while Latin America will expand at a 2.4% CAGR through the analysis period. We bring years of research experience to this 16th edition of our report. The 267-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Anglo American Plc
- Antofagasta Plc
- BHP Billiton Group
- First Quantum Minerals Ltd.
- Grupo México S.A.B. DE C.V
- Jiangxi Copper Co. Ltd.
- JX Nippon Mining & Metals Corp.
- KGHM Polska MiedŸ S.A
- KME AG
- Mitsubishi Materials Corp.
- Mitsui Mining & Smelting Co. Ltd.
- Norilsk Nickel
- OM Group Inc.
- Rio Tinto Group
- Sumitomo Metal Mining Co., Ltd.
- Teck Resources Ltd.
- UMMC Holding Corp.
- Vale Ltd.