LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global copper market to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
The increasing demand for EVs and hybrid vehicles is one of the major trends being witnessed in the global copper market 2018-2022. EVs and hybrid vehicles use twice as much copper, in the form of copper pipes and tubes, as compared to conventional vehicles. Thus, the increase in the sale of EVs and hybrid vehicles contribute to a corresponding increase in the sale of copper, in turn, boosting the growth of the global copper market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global copper market is the superior properties of copper
Global copper market: Superior properties of copper
Copper is characterized by high tensile strength, corrosion resistance, ductility, high heat transfer capability, machinability as well as higher thermal conductivity than other metals. In comparison to other metals such as aluminum and iron, copper requires minimal maintenance, has a longer life expectancy, and can withstand fluid pressures in large air conditioning systems. The following properties of copper drive its extensive use across multiple end-user segments:
According to a senior analyst at Technavio for research on metals and minerals, “Copper was among the most consumed metal in APAC in 2017. China is one of the leading consumers of copper owing to factors such as the increasing demand for EV, infrastructural growth, rising consumer goods, and increasing smart technology, which, in turn, is boosting the growth of the global copper market.”
Global copper market: Segmentation analysis
The global copper market research report provides market segmentation by application (electricals and electronics, construction, telecommunication, and transportation), by type (primary copper and secondary copper) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC held the largest share of the market in 2017, accounting for about 68% share, followed by EMEA and the Americas respectively. The APAC region is likely to continue dominating the market with the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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