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(Chicago.CityRegions.Com, December 16, 2021 ) The oxygen-free copper market is projected to grow from USD 19.9 billion in 2020 to USD 25.9 billion by 2025, at a CAGR of 5.3% during the forecast period. Increasing demand for oxygen-free copper from the electronics & electrical end-use industry, especially in the Asia Pacific region, is expected to drive the demand for oxygen-free copper in the near future. The requirement for high-quality copper with high electrical conductivity has accelerated the demand for oxygen-free copper in the electronics & electrical end-use industry.
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Electronics & electricals is a highly-fragmented industry, which is growing at a rapid pace with increasing demand from emerging economies in China, India, and Brazil. Copper is a widely used metal in the manufacturing of several applications in electronics and electrical goods. With technological advancements and the requirement for pure copper metals & alloys, various grades of oxygen-free copper are used in manufacturing equipment and components in this industry. Properties of oxygen-free copper, such as its high electrical and thermal conductivity, make it suitable for use in printed circuit boards (PCBs), semiconductors, and superconductors, among other applications.
The electronics & electrical industry is expected to grow rapidly in the near future owing to the continuous research & development (R&D) and technological advancements in the industry. According to the Electronics Industries Association of India (ELCINA), the global electronics hardware sector was valued at USD 2 trillion in 2018. The electronics & electrical industry is the major end-use industry in the oxygen-free copper market accounting for about 76% of the market share in terms of value. Therefore, the global demand for electronics and electrical goods will accelerate the growth of oxygen-free copper. The adoption of nanotechnology in this industry will also lead to the demand for pure or oxygen-free copper. In addition, this industry provides its products to various other industries, such as the medical, telecommunications, and automotive These industries require electrically conductive materials and are significant consumers of oxygen-free copper products. Hence, the electrical & electronics industry is a major driver of the growth of the oxygen-free copper market.
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Mr. Aashish Mehra