Global Copper Strips Market Report and Forecast 2024-2032

Global Copper Strips Market Outlook

The global copper strips market is being aided by the growing refined copper market, which reached a volume of 25153.09 kilo tons in 2023. The refined copper industry registered a CAGR of 0.9% in the historical period of 2018-2023.

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Increasing Demand for Electrical Appliances to Augment the Copper Strips Industry Growth

Based on application, the electrical appliances segment accounts for a significant share in the copper strips industry. Copper is commonly used in the manufacture of electrical components due to its excellent heat resistance and superconducting properties. Copper is also relatively cheap, ductile, and thermally resistant, making it ideal for use in the electrical industry. It also has a high melting point and is a strong heat conductor. Therefore, it is widely used in electrical appliances that produce a lot of heat. ASTM B370 is the most widely used copper for strip applications. It is 99.9% copper and comes in six ASTM B370 tempers: 060 (soft), H00 (cold rolled), H01 (cold rolled, high yield), H02 (half hard), H03 (three quarter hard), and H04 (hard). Thin copper strips are ideal for mosaics and other crafts, as well as a variety of other uses such as electrical and DIY designs. These factors are aiding the growth of the segment, and, thus, contributing to the overall industry growth.

The Asia Pacific Region to Provide Enhanced Growth Opportunities to the Copper Strips Industry

The Asia Pacific is likely to emerge as a viable growth ground for the copper strips industry. The market growth in the Asia Pacific can be attributed to the growth of the electrical and electronics industry in the region. Copper is commonly used by electrical component manufacturers in countries such as South Korea, India, China, and others because of its favourable properties. Additionally, the increasing focus to ensure that citizens have access to affordable power is anticipated to further boost the need for copper strips for electrical wiring and other related applications.

However, the current COVID-19 pandemic has had a huge impact on the global economy as well as numerous companies around the world. One of the worst-affected sectors amidst the mass lockdown has been identified as the power and energy sector. For instance, due to the temporary closure of malls, stores, and offices in the wake of the rising coronavirus cases in India, spot power demand fell to 40% in March, which led to reduced demand for copper strips in the region. Similarly, the acceptance rate of copper strips has decreased across the world, causing a fall in the copper strips demand growth curve, at least in the short-term.

Copper Strips: Market Segmentation

Copper (copper strip) is a light metal of exceptional malleability and ductility. It has high thermal and electrical conductivity. It is commonly used in a number of industrial applications due to copper's high malleability and ease of use in machinery during the fabrication process.

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By thickness, the market is divided into:

• <6mm
• 6-10mm
• >10mm

The market is divided based on application into:

• Machines
• Architecture and Art 
• Electrical Appliances
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Investment in Smart Grid Networks to Bolster the Growth of the Copper Strips Industry

The rising investment in smart grid networks is one of the major factors accelerating the global copper strips industry growth. Smart grid networks maintain efficient and seamless power transmission and distribution, and countries around the world have been steadily investing in the construction of these grids, which is leading to a rise in demand for copper strips over time. Further, the increasing need for innovation in modular switchgears that include copper strips is further driving the product utilisation in the sector.

The growing investments by numerous EMEA countries to improve existing power (energy) infrastructure and develop new transmission and distribution networks to satisfy the rising demand for electricity are projected to increase copper strips demand in the forecast period, thus, further propelling the market forward.

Key Industry Players in the Global Copper Strips Market

The report gives a detailed analysis of the following key players in the global copper strips market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Aurubis AG 
• Kme Germany GmbH
• Mitsubishi Materials Corporation
• CNMC Albetter Albronze Co.,Ltd
• Wieland-Werke AG 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report