Oxygen Free Copper Market
PUBLISHED: 2024 ID: SMRC26056
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Oxygen Free Copper Market

Oxygen-free Copper Market Forecasts to 2030 - Global Analysis By Product (Wires, Strips, Bars, Tubes, Sheets and Other Products), Form (Solid, Alloys, Powders, Coatings and Other Forms), Distribution Channel, Application, End User and By Geography

4.9 (32 reviews)
4.9 (32 reviews)
Published: 2024 ID: SMRC26056

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $23.29 BN

Projected Year Value (2030)

US $32.43 BN

CAGR (2023 - 2030)

5.3%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Oxygen-free Copper Market is accounted for $23.29 billion in 2023 and is expected to reach $32.43 billion by 2030 growing at a CAGR of 5.3% during the forecast period. Oxygen-free copper is a high-purity copper alloy with extremely low oxygen content, typically less than 10 parts per million. This purity enhances its electrical conductivity and corrosion resistance, making it ideal for various applications requiring high conductivity. OFC is produced through a process of refining and casting, followed by degassing to remove impurities, particularly oxygen. The resulting material exhibits superior electrical and thermal conductivity compared to standard copper, making it highly sought after in industries where efficient transmission of electricity is paramount.

According to the Ministry of Industry and Information Technology (MIIT), China is the world’s largest producer of consumer electronics, with a global share of more than 60%.

Market Dynamics: 

Driver: 

Increasing demand in electronics industry

OFC's exceptional electrical conductivity and corrosion resistance make it a preferred material for various electronic components and devices, including smart phones, computers, and consumer electronics. As the electronics industry continues to innovate and expand, particularly with the proliferation of IoT devices and advancements in communication technologies, the demand for high-quality conductive materials like OFC is expected to rise steadily, further fueling market growth.

Restraint:

Fluctuating raw material prices

Copper prices are subject to various factors such as supply-demand dynamics, geopolitical tensions, and currency fluctuations. These fluctuations can lead to unpredictable production costs for OFC manufacturers, affecting their profit margins and pricing strategies. Additionally, volatile raw material prices may deter potential investors from entering the market and disrupt supply chains, leading to production delays and uncertainties. This uncertainty mitigates the market demand.

Opportunity:

Rising investments in infrastructure development

OFC's high electrical conductivity and corrosion resistance make it a preferred choice in power transmission and distribution networks, telecommunications, and other infrastructure projects. As countries modernize their infrastructure to meet growing energy demands and upgrade aging systems, the need for reliable and efficient conductive materials like OFC continues to increase. This trend is expected to sustain the growth of the OFC market in the foreseeable future.

Threat:

Competition from substitute materials

Despite OFC’s superior electrical properties, materials like aluminum and fiber optics offer alternatives in certain applications. Advancements in material science yield cheaper efficient substitutes, potentially diverting demand away from OFC. Moreover, the emergence of alternative technologies could erode OFC's market share, particularly in industries where cost-effectiveness or specific performance characteristics are prioritized. Thus, the presence of substitute materials poses a significant restraint on the growth of the OFC market.

Covid-19 Impact

The covid-19 pandemic has drastically impacted the OFC market. Reduced industrial activity and construction projects during lockdowns have dampened demand for OFC in sectors such as infrastructure, automotive, and electronics. Moreover, fluctuating raw material prices and logistical challenges have added uncertainty to the market. However, as economies recover and infrastructure investments resume, the OFC market has gradually recovered, albeit with lingering effects of the pandemic.

The wires segment is expected to be the largest during the forecast period

The wires segment is estimated to have a lucrative growth, due to its high conductivity and corrosion resistance. Produced by removing oxygen through a process called deoxidization, OFC wires have minimal impurities, enhancing their electrical conductivity and thermal stability. Their exceptional conductivity makes them ideal for demanding applications like high-end audio systems, power distribution, and telecommunications. OFC wires offer superior signal transmission and reduce signal loss, ensuring optimal performance in sensitive electronic devices.

The electronic components segment is expected to have the highest CAGR during the forecast period

The electronic components segment is anticipated to witness the highest CAGR growth during the forecast period, due to high conductivity and superior electrical properties. OFC is purer than standard copper, containing minimal oxygen content, which reduces oxidation and improves conductivity. The absence of oxygen minimizes signal distortion and ensures reliable performance, particularly in high-frequency applications. Overall, OFC enhances the efficiency and durability of electronic components in various electronic devices and systems.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to expanding industrialization, urbanization, and infrastructure development. Countries like China, Japan, South Korea, and India are raising investments in renewable energy projects, coupled with increasing adoption of electric vehicles. Additionally, supportive government initiatives and favourable regulatory policies aimed at upgrading infrastructure and promoting technological advancements are bolstering the OFC market's expansion in the Asia-Pacific region.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period. The region's robust infrastructure development, particularly in the telecommunications and power transmission sectors, fuels demand for high-quality conductive materials like OFC. Additionally, the automotive industry's shift towards electric vehicles and the increasing deployment of renewable energy projects contribute to the market's expansion. Moreover, technological advancements and innovation in various end-user industries further propel the demand for OFC in the region.

Key players in the market

Some of the key players profiled in the Oxygen-free Copper Market include Mitsubishi Materials Corporation, KME Group, Hitachi Metals, Furukawa Electric Corporation, SAM Dong America, Kobelco, Luvata, Metrod Holdings Berhad, IBC Advanced Alloys, Aviva Metals, Kobe Steel Limited, Lakes Precision Limited, Wieland Group and Watteredge LLC.

Key Developments:

In February 2020, Mitsubishi Materials Corporation has reached an agreement to acquire 20% stake in the Mantoverde copper mine from Mantos Copper Holding SpA (Chile) and participate in the Mantoverde Development Project. The company will receive off take rights of 30% of copper produced, proportionate to its ownership stakes, and will receive the produced materials in the form of copper concentrate.

In July 2019, KME informed that it executed the agreement with ECT-European Copper Tubes Limited, after fulfilment of the conditions precedent envisaged therein, to purchase 49% shareholding in Tréfimétaux SAS (France) and, therefore, obtain again 100% share control of the company. The acquisition price paid at closing was USD 2.24 million.

Products Covered:
• Wires
• Strips
• Bars
• Tubes
• Sheets
• Other Products

Forms Covered:
• Solid
• Alloys
• Powders
• Coatings
• Other Forms

Distribution Channels Covered:
• Original Equipment Manufacturers (OEMs)
• Distributors
• Aftermarket Suppliers
• Maintenance, Repair, and Operations (MRO) Providers

Applications Covered:
• Electrical Conductors
• Electronic Components
• High-End Audio Equipment
• Heat Exchangers
• Vacuum Tubes
• Waveguides
• Other Applications

End Users Covered:
• Electronics
• Automotive
• Aerospace & Defense
• Telecommunications
• Construction & Infrastructure
• Healthcare
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary   
     
2 Preface    
 2.1 Abstract   
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology 
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources
  2.5.2 Secondary Research Sources
  2.5.3 Assumptions 
     
3 Market Trend Analysis  
 3.1 Introduction  
 3.2 Drivers   
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats   
 3.6 Product Analysis  
 3.7 Application Analysis 
 3.8 End User Analysis  
 3.9 Emerging Markets  
 3.10 Impact of Covid-19  
     
4 Porters Five Force Analysis  
 4.1 Bargaining power of suppliers 
 4.2 Bargaining power of buyers 
 4.3 Threat of substitutes 
 4.4 Threat of new entrants 
 4.5 Competitive rivalry  
     
5 Global Oxygen-free Copper Market, By Product
 5.1 Introduction  
 5.2 Wires   
 5.3 Strips   
 5.4 Bars   
 5.5 Tubes   
 5.6 Sheets   
 5.7 Other Products  
     
6 Global Oxygen-free Copper Market, By Form
 6.1 Introduction  
 6.2 Solid   
 6.3 Alloys   
 6.4 Powders   
 6.5 Coatings   
 6.6 Other Forms  
     
7 Global Oxygen-free Copper Market, By Distribution Channel
 7.1 Introduction  
 7.2 Original Equipment Manufacturers (OEMs)
 7.3 Distributors  
 7.4 Aftermarket Suppliers 
 7.5 Maintenance, Repair, and Operations (MRO) Providers
     
8 Global Oxygen-free Copper Market, By Application
 8.1 Introduction  
 8.2 Electrical Conductors 
 8.3 Electronic Components 
 8.4 High-End Audio Equipment 
 8.5 Heat Exchangers  
 8.6 Vacuum Tubes  
 8.7 Waveguides  
 8.8 Other Applications  
     
9 Global Oxygen-free Copper Market, By End User
 9.1 Introduction  
 9.2 Electronics  
 9.3 Automotive  
 9.4 Aerospace & Defense 
 9.5 Telecommunications 
 9.6 Construction & Infrastructure 
 9.7 Healthcare  
 9.9 Other End Users  
     
10 Global Oxygen-free Copper Market, By Geography
 10.1 Introduction  
 10.2 North America  
  10.2.1 US  
  10.2.2 Canada  
  10.2.3 Mexico  
 10.3 Europe   
  10.3.1 Germany  
  10.3.2 UK  
  10.3.3 Italy  
  10.3.4 France  
  10.3.5 Spain  
  10.3.6 Rest of Europe 
 10.4 Asia Pacific  
  10.4.1 Japan  
  10.4.2 China  
  10.4.3 India  
  10.4.4 Australia  
  10.4.5 New Zealand 
  10.4.6 South Korea 
  10.4.7 Rest of Asia Pacific 
 10.5 South America  
  10.5.1 Argentina 
  10.5.2 Brazil  
  10.5.3 Chile  
  10.5.4 Rest of South America
 10.6 Middle East & Africa 
  10.6.1 Saudi Arabia 
  10.6.2 UAE  
  10.6.3 Qatar  
  10.6.4 South Africa 
  10.6.5 Rest of Middle East & Africa
     
11 Key Developments   
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
 11.2 Acquisitions & Mergers 
 11.3 New Product Launch 
 11.4 Expansions  
 11.5 Other Key Strategies 
     
12 Company Profiling   
 12.1 Mitsubishi Materials Corporation
 12.2 KME Group  
 12.3 Hitachi Metals  
 12.4 Furukawa Electric Corporation 
 12.5 SAM Dong America  
 12.6 Kobelco   
 12.7 Luvata   
 12.8 Metrod Holdings Berhad 
 12.9 IBC Advanced Alloys 
 12.10 Aviva Metals  
 12.11 Kobe Steel Limited  
 12.12 Lakes Precision Limited 
 12.13 Wieland Group  
 12.14 Watteredge LLC  
     
List of Tables    
1 Global Oxygen-free Copper Market Outlook, By Region (2021-2030) ($MN)
2 Global Oxygen-free Copper Market Outlook, By Product (2021-2030) ($MN)
3 Global Oxygen-free Copper Market Outlook, By Wires (2021-2030) ($MN)
4 Global Oxygen-free Copper Market Outlook, By Strips (2021-2030) ($MN)
5 Global Oxygen-free Copper Market Outlook, By Bars (2021-2030) ($MN)
6 Global Oxygen-free Copper Market Outlook, By Tubes (2021-2030) ($MN)
7 Global Oxygen-free Copper Market Outlook, By Sheets (2021-2030) ($MN)
8 Global Oxygen-free Copper Market Outlook, By Other Products (2021-2030) ($MN)
9 Global Oxygen-free Copper Market Outlook, By Form (2021-2030) ($MN)
10 Global Oxygen-free Copper Market Outlook, By Solid (2021-2030) ($MN)
11 Global Oxygen-free Copper Market Outlook, By Alloys (2021-2030) ($MN)
12 Global Oxygen-free Copper Market Outlook, By Powders (2021-2030) ($MN)
13 Global Oxygen-free Copper Market Outlook, By Coatings (2021-2030) ($MN)
14 Global Oxygen-free Copper Market Outlook, By Other Forms (2021-2030) ($MN)
15 Global Oxygen-free Copper Market Outlook, By Distribution Channel (2021-2030) ($MN)
16 Global Oxygen-free Copper Market Outlook, By Original Equipment Manufacturers (OEMs) (2021-2030) ($MN)
17 Global Oxygen-free Copper Market Outlook, By Distributors (2021-2030) ($MN)
18 Global Oxygen-free Copper Market Outlook, By Aftermarket Suppliers (2021-2030) ($MN)
19 Global Oxygen-free Copper Market Outlook, By Maintenance, Repair, and Operations (MRO) Providers (2021-2030) ($MN)
20 Global Oxygen-free Copper Market Outlook, By Application (2021-2030) ($MN)
21 Global Oxygen-free Copper Market Outlook, By Electrical Conductors (2021-2030) ($MN)
22 Global Oxygen-free Copper Market Outlook, By Electronic Components (2021-2030) ($MN)
23 Global Oxygen-free Copper Market Outlook, By High-End Audio Equipment (2021-2030) ($MN)
24 Global Oxygen-free Copper Market Outlook, By Heat Exchangers (2021-2030) ($MN)
25 Global Oxygen-free Copper Market Outlook, By Vacuum Tubes (2021-2030) ($MN)
26 Global Oxygen-free Copper Market Outlook, By Waveguides (2021-2030) ($MN)
27 Global Oxygen-free Copper Market Outlook, By Other Applications (2021-2030) ($MN)
28 Global Oxygen-free Copper Market Outlook, By End User (2021-2030) ($MN)
29 Global Oxygen-free Copper Market Outlook, By Electronics (2021-2030) ($MN)
30 Global Oxygen-free Copper Market Outlook, By Automotive (2021-2030) ($MN)
31 Global Oxygen-free Copper Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
32 Global Oxygen-free Copper Market Outlook, By Telecommunications (2021-2030) ($MN)
33 Global Oxygen-free Copper Market Outlook, By Construction & Infrastructure (2021-2030) ($MN)
34 Global Oxygen-free Copper Market Outlook, By Healthcare (2021-2030) ($MN)
35 Global Oxygen-free Copper Market Outlook, By Other End Users (2021-2030) ($MN)
     
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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