Copper Powder Market Size, Share, Analysis & Forecast [2031]

Report Description

Market Outlook:

The Global Copper Powder Market was estimated at USD 1,415.1 Million in 2022 and is anticipated to reach USD 2,057.4 Million by 2031, expanding at a CAGR of 4.3% during the forecast period.

Copper powder is a shiny orange-red metal powder that is commonly used in cold casting techniques. A paste is created by mixing finely ground copper powder with a liquid binder (such as polyester resin or polyurethane). This paste is molded and hardened to create composite castings that simulate those made from pure metal without having to use a hot foundry.

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Copper is a malleable metal and ductile. It is widely used, due to its electrical and thermal conductivity. Copper is used in electrical conductors and is combined with other metals to form various alloys (combination with tin to create bronze). When exposed to air, the outer copper layer slowly oxidizes to black copper oxide. Depending on conditions, it forms copper carbonate, a green colored material that adheres to weathered copper roofing or cladding.

Macro-economic Factors

Commodity Prices

Copper prices have risen by 125% from their lows in March 2020, making it one of the commodities with the highest prices. The price of copper is influenced by a number of variables. There were several factors that contributed to the slow growth of copper supply. For instance, copper prices dropped by 58% from the beginning of 2010 and the beginning of 2016, nearly reaching the cost of production of the metal and deterring new investments in mines & ore-processing facilities. Copper concentration in copper ore has continuously decreased throughout time. The cost of mining copper has increased, and a significant portion of that cost is energy. The varying price of copper has an impact on the growth of copper powder, as the cost of producing copper powder increases when copper prices are high. This causes producers and end users to look for substitute materials, which affect the demand for copper powder.

Geopolitical Tensions

Geopolitics is one of the main causes of the global copper shortage. More than half of the 20 million tones of copper produced in 2020 were produced in countries deemed politically unstable or extremely unstable. Peru, the second-largest producer of copper across the globe, has been experiencing political unrest since December 2022. This has put pressure on supply systems everywhere. Experts predicted that about 30% of the production in Peru was in jeopardy in January 2023. Several top-tier mines, including Glencore's Antapaccay and MMG's Las Bamba, which together produce 2.5% of the global copper, were either shut down or had their operations curtailed by protestor barricades in the country. Therefore, geopolitics continues to pose a threat to future global copper supply. Hence, the manufacturing of copper powder is influenced along with the availability of copper by geopolitics.

Market Dynamics

Market Driver- Excellent Electrical & Thermal Conductivity

Copper powder is a ductile metal with very high thermal and electrical conductivity and corrosion resistance. The powder is generally reddish-orange in color and used as a conductor of heat and electricity. This powder is anticipated to be used in additive manufacturing products, including induction coils, heat sinks, and water-cooling units, due to the strong electrical conductivity and high thermal conductivity of pure copper. Copper powder is a suitable option for many electronic and electrical applications, due to its strong electrical conductivity. Copper powder, which has high thermal conductivity, is suitable for applications requiring the transfer of heat. Copper powder is a valuable component in the creation of printed circuit boards, electricity connectors, and other electronic devices, due to its high electrical conductivity. The increasing demand for electronic devices, such as smartphones, laptops, and electric vehicles, rely on copper powder for their production. Therefore, exceptional thermal and electrical conductivity of copper powder makes it essential in a variety of sectors and applications where these characteristics are of significance. It functions as a paste that conducts heat from one character to the others, and appliances such as cooling coils, radiators, and heating coils employ its thermal conductivity. In order to fill the spaces between two surfaces, powder copper is employed. Hence, these factors are driving the demand for copper powder during the forecast period.

Market Driver- Growing Applications of Powder Metallurgy

The term powder metallurgy (PM) refers to a broad variety of processes used to create materials or components out of metal powders. Reducing or eliminating the need for subtractive manufacturing processes cuts material losses and lowers the cost of the finished product. Copper powder is essential to the expansion of powder metallurgy applications in the automotive, aerospace, and manufacturing sectors for components such as bushings, bearings, and electrical contacts. It is a glossy and orange-red powder that is frequently used in powder metallurgy. Copper is a particularly useful metal in powder metallurgy, due to its excellent conductivity. Powder metallurgy creates high-quality metal alloys with less machining required. It also lessens the amount of waste scrap built. These factors make copper powder an effective material to use in the manufacture of chemicals, friction products, bearings, electrical components, and other applications. Different qualities of the granular copper powder include pore size, purity, production method, density, composition, particle size, and others. It is used in powder metallurgy and is mixed with other metal powders and graphite to provide structural parts with specific properties, including strength, hardness, and wear resistance. One of the key sectors influencing the powder metallurgy market is the automotive and aerospace. Gears, bearings, pistons, and valve seats are just a few of the automotive components that are frequently made using powder metallurgy. Powder metallurgy is utilized in the manufacture of missile parts, aircraft engine parts, and other crucial components that require high strength, resistance to corrosion, and precision. Therefore, the need for copper powder rises in these applications, as the need for powder metallurgy rises in diverse sectors.

Market Restraint- Fluctuating Copper Prices

Copper prices rose by 125% since March 2020, making it an expensive commodity. The price of copper is influenced by a number of variables. Several factors contributed to the relatively sluggish growth in copper supply. From the beginning of 2010 and the beginning of 2016, copper prices dropped by 58%, nearly reaching the metal's cost of production and deterring new investments in mines and ore-processing facilities. Copper concentration in copper ore has continuously decreased. The cost of mining copper has increased, and a significant portion of that cost is energy, although the overall amount of copper deposits that have been discovered has continued to rise. In 2021, the global sales of electric cars (EVs) increased by 160% to 2.6 million vehicles. Furthermore, less than 4% of all vehicles sold globally were electric vehicles. Growing sales of EVs at a rapid pace and increasing market share of EVs as compared to combustion engine-powered cars implies potentially strong demand for copper and other metals. China purchases 40% to 50% of the freshly produced copper each year. Raw copper is employed in local production; however, the majority is exported as parts of intermediate or finished products. The current prices of copper have frequently shown a high correlation with the rate of expansion in China's manufacturing sector. The cost of producing copper powder increases when copper prices are high, hence, the varying price of copper has an impact on the growth of the copper powder market. This encourages producers and end-users to look for substitute materials, which affects the demand for copper powder.

Scope of the Report  

The report on the Global Copper Powder Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Segmental Outlook

Based on purity, the Global Copper Powder Market is categorized as below 99%, and 99% and above. The below 99% segment is expected to hold XX% share of the market in 2031, due to the increasing demand from the electrical and electronics industry. Below 99% copper powder is used in some electrical and electronics products, due to its excellent thermal and electrical conductivity. Its thermal characteristics and electrical properties make it useful in the development of electronic and electrical devices.

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Based on distribution channel, the global copper market is categorized as manufacturers and distributors. The manufacturers segment held a XX% share of the market in 2022. Manufacturers of copper powder have more control over pricing than distributors, as they produce it in large quantities at low costs. Manufacturers set and enforce their own prices without having to share margins or commissions with distributors or retailers.

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Based on application, the Global Copper Powder Market is categorized as friction products, self-lubricating bearings, diamond cutting tools, brazing, catalyst, thermal conductive paste, and others.

The friction products and self lubricating bearings segments are expected to hold XX% and XX% share of the market in 2031, due to the increasing demand for copper powder from the automotive and aerospace industries for various application, such as brakes, clutches, and self-lubricating bearings. The diamond cutting tools segment is projected to expand at a CAGR of XX% during the forecast period. Increasing building & construction activities in emerging economies are driving the demand for cutting tools, such as diamond cutting tools. This factor is expected to boost the market.

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Based on end-use industry, the Global Copper Powder Market is categorized as aerospace and defence, electrical and electronics, building and construction, chemical, automotive, and others.

The aerospace and defence segment is expected to hold XX% share of the market in 2031, due to increasing applications of copper powder in aerospace and defence. Demand for various frictional products is increasing widely in aerospace, which is increasing the demand for copper powder. Copper powder is well-known for electrical and thermal conductivity, which makes it an ideal choice for aerospace and defence. The electrical and electronics segment held XX% market share in 2022, due to conductive properties of copper powder. Copper powder is a dense spherical metal powder that is commonly used in the electronics industry. It is used in switches, connectors, and other applications.

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Regional Outlook

On the basis of regions, the Global Copper Powder Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is projected to hold XX% share of the global market in 2031. The aerospace, automotive, chemical, and other industries are major consumers of copper powder in the region. This, in turn, increases the demand for copper powder in North America. Increasing demand for copper oxide in various chemical products such as in production of different catalyst is expected to drive the demand for copper powder during the forecast period.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Copper Powder Market

• Historical, Current, and Projected Market Size in terms of Value

• 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 Powder Market Performance