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The global copper strips market is being aided by the growing refined copper market, which reached a volume of 25153.09 kilo tons in 2023. The refined copper industry registered a CAGR of 0.9% in the historical period of 2018-2023.
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Based on application, the electrical appliances segment accounts for a significant share in the copper strips industry. Copper is commonly used in the manufacture of electrical components due to its excellent heat resistance and superconducting properties. Copper is also relatively cheap, ductile, and thermally resistant, making it ideal for use in the electrical industry. It also has a high melting point and is a strong heat conductor. Therefore, it is widely used in electrical appliances that produce a lot of heat. ASTM B370 is the most widely used copper for strip applications. It is 99.9% copper and comes in six ASTM B370 tempers: 060 (soft), H00 (cold rolled), H01 (cold rolled, high yield), H02 (half hard), H03 (three quarter hard), and H04 (hard). Thin copper strips are ideal for mosaics and other crafts, as well as a variety of other uses such as electrical and DIY designs. These factors are aiding the growth of the segment, and, thus, contributing to the overall industry growth.
The Asia Pacific is likely to emerge as a viable growth ground for the copper strips industry. The market growth in the Asia Pacific can be attributed to the growth of the electrical and electronics industry in the region. Copper is commonly used by electrical component manufacturers in countries such as South Korea, India, China, and others because of its favourable properties. Additionally, the increasing focus to ensure that citizens have access to affordable power is anticipated to further boost the need for copper strips for electrical wiring and other related applications.
However, the current COVID-19 pandemic has had a huge impact on the global economy as well as numerous companies around the world. One of the worst-affected sectors amidst the mass lockdown has been identified as the power and energy sector. For instance, due to the temporary closure of malls, stores, and offices in the wake of the rising coronavirus cases in India, spot power demand fell to 40% in March, which led to reduced demand for copper strips in the region. Similarly, the acceptance rate of copper strips has decreased across the world, causing a fall in the copper strips demand growth curve, at least in the short-term.
Copper (copper strip) is a light metal of exceptional malleability and ductility. It has high thermal and electrical conductivity. It is commonly used in a number of industrial applications due to copper's high malleability and ease of use in machinery during the fabrication process.
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By thickness, the market is divided into:
The market is divided based on application into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The rising investment in smart grid networks is one of the major factors accelerating the global copper strips industry growth. Smart grid networks maintain efficient and seamless power transmission and distribution, and countries around the world have been steadily investing in the construction of these grids, which is leading to a rise in demand for copper strips over time. Further, the increasing need for innovation in modular switchgears that include copper strips is further driving the product utilisation in the sector.
The growing investments by numerous EMEA countries to improve existing power (energy) infrastructure and develop new transmission and distribution networks to satisfy the rising demand for electricity are projected to increase copper strips demand in the forecast period, thus, further propelling the market forward.
The report gives a detailed analysis of the following key players in the global copper strips market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Thickness |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The global copper strips market is supported by refined copper market, which attained a volume of nearly 25153.09 kilo tons in 2023.
The refined copper market is projected to grow at a CAGR of 0.9% between 2024 and 2032.
The major drivers of the market include the rising investment in smart grid networks and the increasing need for innovation in modular switchgears that include copper strips.
The increasing demand for electrical appliances and the rising demand for electricity are expected to be the key trends guiding the growth of the market.
The different thicknesses of copper strips available in the market are <6mm, 6-10mm, and >10mm.
Copper strips finds applications as machines, architecture and art, and electrical appliances, among others.
The key players in the global copper strips market are Aurubis AG, Kme Germany GmbH, Mitsubishi Materials Corporation, CNMC Albetter Albronze Co.,Ltd, and Wieland-Werke AG, among others.
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