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Report Overview
The Mexico copper market size was valued at USD 2.97 Billion in 2025. The industry is expected to grow at a CAGR of 5.70% during the forecast period of 2026-2035 to reach a value of USD 5.17 Billion by 2035. The market growth is mainly contributed by the greenfield projects and large-scale copper projects in Mexico, which have resulted in additional production capacity and assured the supply for the long term.
The consistently rising demand for the renewable energy infrastructure, such as solar, wind, and electric vehicle supply chains that use copper heavily to transfer energy efficiently is boosting the demand for copper. At the same time, technological progress in mine automation and the use of environmentally friendly extraction methods help increase the total output and reduce the impact on the environment. Such innovations enable producers to get the best yields and, at the same time, reduce the costs of operation, thereby solidifying the growth trend in the Mexico copper market.
Furthermore, with the expansion of greenfield copper projects and large-scale copper deposit development, copper market participants are focused on increasing production capacity and improving long-term supply pipelines. Copper companies are now focusing more on new mines and significant deposits to offset the decline in older assets and fulfil expanding global copper demand from the electrification and infrastructure sectors.
The shift toward the type of projects that are large, long-lived, and scalable, which can maintain the level of production for decades, is shown by these investments. This trend is clearly reflected in Southern Copper Corporation’s project portfolio. In July 2025, the company confirmed progress on the El Pilar greenfield copper project in Sonora, designed as an SX-EW operation with expected annual production of around 36,000 tonnes of copper cathodes, directly expanding refined copper output base in the Mexico copper market. Complementing this, in October 2024, Southern Copper reaffirmed continued engineering and infrastructure planning for the El Arco copper deposit in Baja California, one of Mexico’s largest undeveloped copper resources, positioning it as a future large-scale production hub.
2025
Base Year
2019-2025
Historical Period
2026-2035
Forecast Period
-
The latest copper price stands at USD 8,399.94/MT, reflecting a 2.57% increase from December and a 0.29% rise from January 2023.
-
Mexico ranks ninth globally in copper output, with a 2% increase in 2022, reaching 753,885 tons. Grupo México dominated Mexican copper production in 2022, holding a 73.3% market share, trailed by Minera Frisco, Santa María de la Paz y Anexas, Capstone Copper, and Invecture Group.
Compound Annual Growth Rate
5.7%
Value in USD Billion
2026-2035
*this image is indicative*
Key Trends and Recent Developments
Transition of Gold Mines into Polymetallic Copper Producers
The Mexico copper market growth is getting a boost from the repurposing of the gold operations to polymetallic producers, as mining companies are adding copper to their already established asset bases. For instance, in March 2025, Torex Gold Resources obtained its first copper concentrate production from the Media Luna project in Guerrero. Utilizing the existing processing facilities at the El Limn Guajes complex, Torex was able to quickly increase copper production and at the same time extend the mine life, thus showing how asset optimization and by-product copper production are making the domestic copper supply stronger.
Strategic Cross-Border Copper Investments by Major Producers
Strategic cross-border investment planning by major miners is affecting capacity decisions in the Mexico copper market, as companies react to changes in global trade policies and the basic long-term demand growth. This was seen in July 2025, when Grupo México announced that it was considering copper project investments of up to USD 6 billion in the United States, including the potential expansion and restart of smelting operations under its Asarco subsidiary, after a reduction in copper tariffs in the United States. The situation highlights how big copper producers are engaged in continually readjusting their capital expenditure and localizing their regional asset portfolios for sustainable long-term growth.
Export Market Diversification Amid Trade Policy Uncertainty
Trade policy uncertainty is encouraging export diversification strategies in the copper market, with producers and policymakers reacting to possible disruptions in the usual trade flows. In July 2025, Mexican officials made public their intention to look for substitute export markets and revise the normal copper export routes after the United States revealed a plan to impose a 50% tariff on copper imports. The situation illustrates the impact of changing tariff regimes, which intensify the drive to shift exports to Asia and other regions with high demand for copper, thus strengthening Mexico copper market value and supply chain adaptability in the global market.
Large-Scale Investment Commitments Fuel Project Expansion
Large-scale investment commitments by the top producers are the main factor behind growth and upgrades in the copper market. In July 2025, Southern Copper Corporation informed that its Mexican subsidiary, Minera México, is negotiating with the federal government to obtain permits and licenses for a USD 10.2 billion investment pipeline at various copper projects. This includes an expenditure of more than USD 600 million in 2025 for open pit and underground operations, infrastructure upgrades, water use enhancement, and tailings management. Several other projects, including Angangueo, Chalchihuites, the Empalme smelter, El Arco, and El Pilar, are the primary drivers of the company's plan to expand production capacity and improve operational efficiency, both of which are critical to securing supply in the competitive landscape of the Mexico copper market.
Large-scale copper consolidation strengthens global supply chains and regional asset pipelines
Large-scale mergers between top copper producers are helping market players to secure the global supply of copper in the long run by combining first-rate assets, financial capability, and new project pipelines. For instance, in September 2025, Anglo American and Teck Resources declared that they were merging and singlehandedly forming Anglo Teck, a top five copper producer worldwide with an over 70% copper focus and a robust pipeline in Mexico, Chile, Peru, and Canada. The integrated portfolio promotes efficient capital allocation for expansion and increased copper output, resulting in indirect advantages to trade flows upstream and downstream linked to the growth of the Mexico copper market.
Mexico Copper Industry Segmentation
The EMR’s report titled “Mexico Copper Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by End-Use
- Automotive and Heavy Equipment
- Electrical and Electronics
- Construction
- Industrial
- Others
Key Insights: The demand for copper in the various segments of end usage is the main factor that is driving the Mexico copper market expansion. In automobiles and heavy machinery, the vehicle manufacturers (OEMs), such as GM, Ford, and Volkswagen, are increasing electric vehicle (EV) production in Mexico’s factory centers, which, in turn, increases the copper usage in wiring harnesses, electric motors, and power systems; this expansion directly leads to an increase in copper consumption at the domestic level, and thus the copper suppliers are getting the support of their ecosystems. In the electrical and electronics sector, firms such as ABB, Siemens, and Schneider Electric are increasing the installation of copper cabling, motor controls, and transformers to help with the automation of processes, smart grids, and data center infrastructure, thus helping Mexico develop its electrical supply chains in North America.
During different phases of the construction, major contractors and developers such as Vesta, GICSA, and Grupo Carso use copper in electrical wiring, plumbing, and HVAC systems in both commercial and residential projects. This creates a steady long-term demand in the Mexico copper market, associated with urban growth. On the other hand, in industrial applications, global manufacturers like Caterpillar, Bosch, and Honeywell are ramping up their investments in plants and upgrading machinery that uses copper components for motors, heat exchangers, and sensors, thus increasing efficiency. And finally, the "others" category, which includes renewable energy developers such as Iberdrola and Enel Green Power, employs copper largely in their wind, solar, and telecom infrastructure, thus diversifying demand and strengthening the markets' resilience. These processes happening in leading companies across segments in unison help to increase copper consumption and thereby support the continued growth of the market.
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Purchase the Regional Overview for USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Mexico Copper Market Share
By end-use, automotive and heavy equipment show robust growth driven by increasing demand from EV manufacturers
The copper usage in the automotive and heavy equipment is set to rise in Mexico, alongside the production of electric vehicles (EV) and advanced manufacturing requirements. For example, Judd Wire, a component supplier, is increasing production capacity to meet demand by investing USD 32 million in the expansion of a high-technology cable production line in Aguascalientes, which supports automotive electrification and strengthens regional supply chains for copper-rich wire and harness systems. The company thus improves local production capacity, reduces the time of delivery, facilitates the engagement of other suppliers in the automotive ecosystem, and complies with the general implications of nearshoring and electrification in North America. As a result, the increase in EV and heavy machinery manufacturing directly boosts the demand of the Mexico copper market.
Copper continues to play a key role in the electrical, electronics, and industrial sectors, given its superior conductivity and high reliability. The upgrading of copper processing infrastructure is one of the ways to support increased production of cables, transformers, motors, and industrial machinery. To cite an instance, the delivery of a new set of crushers from Metso to Grupo Mexico's La Caridad copper concentrator plant has the goal of expanding plant throughput and efficiency, thus providing more copper for the downstream electrical and industrial applications. Furthermore, processing capacity increases producers' ability to meet demand for automation, smart grids, and manufacturing modernization, providing for steady supply in the electronics and power industries. Moreover, the funds injected into production efficiency, cost reduction, and strengthening of Mexico’s position in the electrically integrated North American value chains are the result of these capital allocations.
Competitive Landscape
Major Mexico copper market players are focusing on capacity optimization and asset integration as the main strategies to secure long-term growth in the copper market of Mexico. Major producers are putting a lot of money into concentrator upgrades, extensions of mine lives, and ore recovery enhancements to get the maximum production possible from their current operations. These efforts go hand in hand with the careful setting of capital aside for brownfield expansions, which help lower the risk of execution while at the same time allowing for faster production ramp-ups. Moreover, the companies are also prioritizing process automation, predictive maintenance, and digital monitoring for operational efficiency. These kinds of strategies, on top of strengthening supply reliability, lowering production costs, and making the companies more competitive both in the domestic and export-oriented value chains, help in stabilizing the overall market.
Meanwhile, to expand their operations and obtain access to cutting-edge technologies, corporations are increasingly turning to strategic partnerships, alliances, and consolidation. Collaborative ventures facilitate the shared development of the infrastructure, optimization of the logistics, and transfer of knowledge, all of which lead to enhanced technical capabilities along the Mexico copper market value chain. Through mergers and joint ventures, companies are not only able to diversify their resource portfolios but also secure high-grade copper assets and enter new geographical markets. When combined with the use of innovative technologies, such initiatives increase resilience, ensure sustainable production practices, and equip market players to efficiently meet growing demand from sectors such as automotive, industrial, renewable energy, and electrical.
Grupo México, S.A.B. de C.V.
Established in 1978 and based in Mexico City, Mexico, Grupo México is among the largest conglomerates of integrated mining companies in Mexico. The company specializes in copper, molybdenum, silver, and gold production, as well as transportation and infrastructure operations. It is dedicated to mining sustainably and is a major player in the Americas.
Bolsa Mexicana de Valores S.A.B. de C.V.
Established in 1894 and located in Mexico City, Mexico, the Mexican Stock Exchange is the main stock exchange in Mexico that offers capital market services and enables the trading of stocks, bonds, and various other financial assets. It serves as a major engine for economic development and investment in Mexico.
PEÑOLES, S.A. DE C.V.
Established in 1887 and headquartered in Torreón, Mexico, PEÑOLES is a prominent Mexican mining company that produces silver, gold, copper, lead, and zinc. Besides mining, it has a notable concentration on refining and metallurgical operations. The company is known for its innovations in mining technology and environmental stewardship.
Capstone Copper Corp.
Established in 1996 and located in Vancouver, Canada, Capstone Copper Corp. is a Canadian mining company that is primarily engaged in the exploration, development, and production of copper. Currently, the company's major operations are in North and South America. The company concentrates on achieving sustainable growth and using resources efficiently in order to satisfy the global copper demand.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Key Highlights of the Mexico Copper Market Report
- Comprehensive analysis of historical performance and accurate forecasts through 2035, enabling stakeholders to understand market growth trends and future opportunities.
- Insights into product innovations, technological advancements, and process improvements shaping the copper supply chain and end-use applications.
- In-depth competitive landscape profiling of leading domestic and international copper producers, highlighting strategies, capacity expansions, partnerships, and recent developments.
- Regional analysis identifying emerging growth hubs, supply-demand dynamics, and investment potential across major copper-producing states in Mexico.
- Investment-focused outlook supported by quantitative and qualitative data, helping investors assess risks, opportunities, and capital allocation decisions effectively.
Why Choose Expert Market Research?
- Trusted insights backed by extensive primary research, including interviews with industry experts, company reports, and market databases.
- Actionable data for strategic decision-making, enabling companies to optimize production, expansion, and market entry strategies.
- Region-wise and product-specific analysis to identify opportunities, understand competitive positioning, and align business strategies with market trends.
Call to Action
Explore the latest trends shaping the Mexico Copper Market 2026-2035 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Download a free sample report or contact our team for a customized consultation on Mexico copper market trends 2026.
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*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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Key Questions Answered in the Report
In 2025, the Mexico copper market reached an approximate value of USD 2.97 Billion.
The market is projected to grow at a CAGR of 5.70% between 2026 and 2035.
The revenue generated from the Mexico copper market is expected to reach USD 5.17 Billion in 2035.
The market is categorised according to its end-use, which includes automotive and heavy equipment, electrical and electronics, construction, industrial and others.
The key players in the market include Grupo México, S.A.B. de C.V., Bolsa Mexicana de Valores S.A.B. de C.V., PEÑOLES, S.A. DE C.V., and Capstone Copper Corp.
Key strategies driving the market include expansion of existing mines and development of new copper projects, strategic mergers and acquisitions, investment in advanced extraction and processing technologies, focus on sustainable and environmentally responsible mining practices, and diversification of product portfolios to include value-added metals like silver and molybdenum.
Chile is the largest producer of copper globally.
Mexico has solidified its position as the ninth-largest copper producer globally. According to CAMIMEX's report, Mexico's copper production in 2022 reached 753,885 tons, marking a 2% increase compared to the previous year.
Santa Clara receives 10,000 tons of recycled copper weekly from domestic and international electric and telephone firms. In 1981, it resumed its name Santa Clara del Cobre, retaining Salvador Escalante as the municipal name.
The major challenges include regulatory and permitting delays, environmental and community opposition, fluctuating global copper prices, high operational and energy costs, and competition from established global producers with more advanced technological capabilities.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by End-Use |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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