Oxygen Free Copper - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Oxygen Free Copper - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Oxygen Free Copper Market size is estimated at USD 20.29 billion in 2024, and is expected to reach USD 26.36 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The market was negatively impacted by the COVID-19 pandemic as there was a slowdown in production and mobility, which caused a shortage of semiconductors, which negatively impacted the market for oxygen-free copper. Also, industries such as electronics, automotive, etc., were forced to delay their production due to containment measures and economic disruptions. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022, and it is expected to grow steadily in the future.

Increasing demand for oxygen-free copper from semiconductors has been driving the market growth during the forecast period.

However, the high cost of copper is anticipated to hinder the growth of the studied market.

Growing oxygen-free copper applications in a wide range of electronics are likely to provide opportunities for the oxygen-free copper market over the next five years.

The Asia-Pacific region is dominated across the world, with increasing consumption from countries like China and India.

Oxygen Free Copper Market Trends

Electrical and Electronics Industry to Dominate the Market

• The electrical and electronics industry stands to be the dominating segment owing to wide consumption in the manufacturing of semiconductors and superconductors.
• Oxygen-free copper is commonly used in manufacturing applications such as the manufacture of semiconductors and superconductors and high-vacuum systems such as particle accelerators requiring plasma deposition.
• The use of oxygen-free materials is critical in these applications, as the presence of oxygen or some other impurity contributes to unwanted chemical reactions with the materials used in the system.
• Oxygen-free copper is witnessing growth in consumption due to its wide application in printed circuit boards, microwave tubes, vacuum capacitors, vacuum interrupters, vacuum seals, waveguides, and vacuum tubes for radio and TV transmitters and magnetrons.
• The exponential growth in the number of electronic gadgets across the globe, such as mobile phones, smart devices, tablets, and TV sets, is expected to drive the demand for oxygen-free copper over the forecast period. Thus, the increasing usage and widening arena of application in the electrical and electronics industry is expected to drive market growth.
• According to the Japan Electronics and Information Technology Industries Association (JEITA), the production by the global electronics and IT industry was estimated at USD 3,436.8 billion in 2022, registering a growth rate of 1% year-on-year, compared to USD 3,415.9 billion in 2021. Moreover, the industry is expected to reach USD 3,526.6 billion, with a growth rate of 3% year-on-year in 2023.
• Moreover, according to the Ministry of Electronics and Information Technology, the production value of consumer electronics (TV, accessories, and audio) across India was above INR 745 billion (USD 9.46 billion) in fiscal year 2022, thus supporting the growth of the market.
• All the aforementioned factors are expected to drive the oxygen-free copper market during the forecast period.

Asia-Pacific Region to Dominate the Market

• The Asia-Pacific market is expected to be the largest and fastest-growing market over the forecast period, owing to the increasing demand for electronic semiconductor devices in developing countries of Asia-Pacific, such as China, Japan, and India.
• Demand for consumer devices, such as smartphones, PCs, laptops, and other medical electronics products, is growing rapidly through the Asia-Pacific region, with India, Japan, and China contributing majorly to the market growth.
• 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%.
• Furthermore, Japan is one of the largest producers of electronics; as per the Japan Electronics and Information Technology Industries Association (JEITA), the domestic production by the Japanese electronics industry was estimated at JPY 11,124.3 billion (~USD 85.19 billion) in 2022, witnessing a growth rate of 2% compared to the previous year. The domestic production by the Japanese electronics industry is likely to reach JPY 11,402.9 billion (~USD 87.32 billion) by 2023, registering a growth rate of 3% year-on-year.
• The Asia-Pacific energy sector is also thriving, owing to the high demand for energy. The rapidly growing industrial sector is one of the key factors driving the energy demand in the region, which in turn is supporting the market growth during the forecast period.
• The Asia-Pacific thermal sector is registering growth, with China primarily driving the growth of the sector. China has the most coal-fired power plants of any country or territory in the world. On the Chinese Mainland, as of July 2022, there were 1,118 operational coal power plants. This is approximately four times the number of such power plants in India, which came in second place. China accounts for more than half of the world's coal electricity generation.
• The aforementioned factors are anticipated to contribute to the increasing demand for oxygen-free copper consumption in the region during the forecast period.

Oxygen Free Copper Industry Overview

The oxygen-free copper market is fragmented in nature. The major players in the studied market (not in any particular order) include Copper Braid Products, Mitsubishi Materials Corporation, Aviva Metals, PROTERIAL Ltd, and Sam Dong.

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• The market estimate (ME) sheet in Excel format
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