North America Copper Market Report and Forecast 2024-2032

North America Copper Market Outlook

The North America copper market attained a volume of nearly 2,092.04 KMT in 2023. The market is projected to grow at a CAGR of 2.40% between 2024 and 2032 to reach a value of around 2,584.76 KMT by 2032.

Key Trends in the Market

Copper refers to a metallic element which possesses malleable and ductile properties. This element can be transformed into thin sheets and wires and is known to be an excellent conductor of electricity. With an atomic weight of 63.54 and atomic number 29, copper is reddish-brown in appearance.

• The North America copper market is being driven by the rising demand for copper in applications ranging from plumbing to roofing in the building and construction sector. The increasing spending on construction, owing to the growing investments in residential and non-residential structures, coupled with the escalating living standards, is also supporting the market demand.

• The thriving manufacturing sector across the United States and Canada is heightening the incorporation of copper in industrial and machinery equipment development.

• The heightening demand for copper in electrical wiring to facilitate power transmission, power distribution, and telecommunication operations, is further fuelling the North America copper market growth.

• Technological advancements in the automotive sector, such as the emergence of self-driving cars, hybrid electric vehicles, and heavy-duty automobiles, among others, are likely to boost the application of copper in the automotive and heavy equipment sector in North America.

Market Analysis

Based on grade, the market is segmented into pure coppers, oxygen-free coppers, electrolytic coppers, and free-machining coppers. On the basis of form, the market is classified into wire rods, plates, sheet and strips, tube, and bars and sections, among others.

By end use, the market is categorised into building and construction, electrical and electronic, automotive and heavy equipment, consumer and general products, and industrial and machinery equipment, among others. The major countries in the market for copper in North America are the United States and Canada.

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. The report gives a detailed analysis of the key players in the North America copper market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Electric Materials Company

• Mitsubishi Materials Corporation

• Rio Tinto Group

• Freeport-McMoRan Inc.

• Capstone Copper Corp.

• Concast Metal Products Company

• Montana Resources LLP

• Newmont Corporation

• KGHM Polska Miedź S.A.

• Others

Market Share by Grade

Oxygen-free copper contains very little oxygen content and is known to be more resistant to short circuit and has a higher durability as compared to its counterparts. The reduced oxygen content of the product enhances its resistance to corrosion. In this regard, oxygen-free copper is widely used in structural and thermal applications.

Meanwhile, electrolytic copper is a type of copper which has high tensile strength and excellent ductility, making it suitable for applications across various end-use sectors, including electronics, in North America.

Market Share by Form

Among different forms of copper, copper plates are one of the most useful materials, applied in several sectors across the United States and Canada. Copper plates have high malleability, corrosion resistance, lubricity, and anti-bacterial properties. Hence, they are ideal for utilisation in sectors such as marine, electrical and electronics, military, and HVAC, among others.

Competitive Landscape

Electric Materials Company is a leading manufacturer of copper-related products, such as copper forgings, casting, and billets, among others. It was founded in 1915 and is headquartered in Pennsylvania, the United States.

Mitsubishi Materials Corporation is a prominent cement manufacturing company which also offers copper and aluminium products, along with electronic components. The company was established in 1871 and is headquartered in Tokyo, Japan.

Rio Tinto Group is a multinational company which is one of the largest metals and mining corporations. The company was founded in 1873 and is currently headquartered in London, the United Kingdom.

Other market players include Freeport-McMoRan Inc., Capstone Copper Corp., Concast Metal Products Company, Montana Resources LLP, Newmont Corporation, and KGHM Polska Miedź S.A., among others.

Key Highlights of the Report