The global copper concentrate market was valued at US$ 81 Billion in 2019 and is projected to reach US$ 93 Billion by 2027 expanding at a CAGR of 2.5% during the forecast period, 2020-2027. Copper concentrates are typically prepared by removing water from a copper solution High purity copper concentrate, having the smallest possible average grain size, is used for preparing pressed and bonded sputtering targets using processes such as physical vapor deposition (PVD), chemical vapor deposition (CVD), metal-organic chemical vapor deposition (MOCVD), atomic layer deposition (ALD), low-temperature organic evaporation, and thermal and electron beam (E Beam) evaporation.
The market is driven by factors such as growing awareness regarding the properties of copper, increasing production of copper-based alloys, and growing use of copper-based products for human health. However, availability of cheaper alternatives and implementation of taxes and strict regulation policies are key restraints of this market. Ongoing research development activities in the field of green mining and use of smart mining technology for mining are boosting the growth of the market.
On the basis of type, the global copper concentrate market is bifurcated into pyrometallurgical and hydrometallurgy. The pyrometallurgical segment is estimated to hold a significant market share of the market during the forecast period due to its highly efficient outcomes and its ability to process at high temperature to provide high production rates therefore, the segment is anticipated to expand at a healthy CAGR of 2.5% during the forecast period. The hydrometallurgy segment is estimated to grow at sluggish pace, as this process has low recovery rate of the copper metal.
Based on applications, the global copper concentrate market is classified into electrical industry, mechanical industry, industrial machineries and equipment, military defense, and others. The electrical industry segment is projected to constitute half of the market by 2027 as a majority of the copper is used in the electrical applications such as building electrical wiring, computer chips, and power cables. The mechanical industry and industrial machineries & equipment segments are anticipated to expand at significant pace due to increasing demand for copper from these industries during the forecast period.
In terms of regions, the market has been fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. It constituted more than half market in terms of share in 2019. The market in the region is projected to expand at a CAGR of 2.7% during the forecast period. The demand for copper concentrate is expected to rise due to the rapid growth in the construction, automotive, and appliance industries in the region. The market in North America is projected to expand at a CAGR of 2.6% due to the recent advances in the mechanical industry and the expected launches of new trains and aircraft during the forecast period.
Key players in the market include Anglo American, Glencore, Jiangxi Copper Corporation, and others These companies are considered as key manufacturers of copper concentrate based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the copper concentrate extraction is added in the company’s capacity.
For instance, in 2019, Katanga Mining of Glencore announced plans to acquire land rights from Gécamines. This helped the company increase its products and assets.
In-depth Analysis of the Global Copper Concentrate Market
Historical, Current and Projected Market Size in terms of Value and Volume
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Copper Concentrate Market Performance
Some frequently asked quetions about this report!
Additional company profiles can be provided on request
Yes, the list of top smelters is available in final report. The smelter locations, capacity, and production for year 2018 and 2019 is available in final report.
According to this Growth Market Reports report, the market from Copper Concentrate is likely to register a CAGR of 2.5% during forecast period 2020-2027, with an anticipated valuation of US$ 93 billion by the end of the 2027.
In addition to market size (in US$ Million), Market Volume (in Million Tons), and Company Market Share (in % for base year 2019), other data such as Pricing analysis for year 2017 to 2027 (estimated pricing analysis) is provided, Export Import Analysis (2015 to 2019) for Copper ores and concentrates is provided, short term and long term outlook for copper concentrate market is available in final report.
The increasing demand for copper across various end user industries due to its unique metallurgical properties, and rising research and development activities to increase copper usability’s is driving the market growth during forecast period.
Electrical Industry and Mechanical Industry are the key end-use industries driving the HVAC filters market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness decline of over 3% between 2019 and 2020 owing to the negative impact of COVID 19 pandemic on the copper concentrates market. The shutdown of production activities, restrictions on transportation activities, and temporary decline in demand for copper concentrates are some of the prime reasons responsible for this market trend.
The base year considered for the global copper concentrate market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major manufactures include, Anglo American, Glencore, and Jiangxi Copper Corporation.
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