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North America Copper Market Size, Share, Forecast: By Grade: Pure Coppers, Oxygen-free Coppers, Electrolytic Coppers, Free-Machining Coppers; By Form: Wire Rods, Plates, Sheet and Strips, Tube, Bars and Sections, Others; By End Use: Building and Construction, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
North America Copper Market Outlook
The North America copper market attained a volume of nearly 2,092.04 KMT in 2023. The market is projected to grow at a CAGR of 2.40% between 2024 and 2032 to reach a value of around 2,584.76 KMT by 2032.
Key Trends in the Market
Copper refers to a metallic element which possesses malleable and ductile properties. This element can be transformed into thin sheets and wires and is known to be an excellent conductor of electricity. With an atomic weight of 63.54 and atomic number 29, copper is reddish-brown in appearance.
- The North America copper market is being driven by the rising demand for copper in applications ranging from plumbing to roofing in the building and construction sector. The increasing spending on construction, owing to the growing investments in residential and non-residential structures, coupled with the escalating living standards, is also supporting the market demand.
- The thriving manufacturing sector across the United States and Canada is heightening the incorporation of copper in industrial and machinery equipment development.
- The heightening demand for copper in electrical wiring to facilitate power transmission, power distribution, and telecommunication operations, is further fuelling the North America copper market growth.
- Technological advancements in the automotive sector, such as the emergence of self-driving cars, hybrid electric vehicles, and heavy-duty automobiles, among others, are likely to boost the application of copper in the automotive and heavy equipment sector in North America.
Market Analysis
Based on grade, the market is segmented into pure coppers, oxygen-free coppers, electrolytic coppers, and free-machining coppers. On the basis of form, the market is classified into wire rods, plates, sheet and strips, tube, and bars and sections, among others.
By end use, the market is categorised into building and construction, electrical and electronic, automotive and heavy equipment, consumer and general products, and industrial and machinery equipment, among others. The major countries in the market for copper in North America are the United States and Canada.
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. The report gives a detailed analysis of the key players in the North America copper market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Electric Materials Company
- Mitsubishi Materials Corporation
- Rio Tinto Group
- Freeport-McMoRan Inc.
- Capstone Copper Corp.
- Concast Metal Products Company
- Montana Resources LLP
- Newmont Corporation
- KGHM Polska Miedź S.A.
- Others
Market Share by Grade
Oxygen-free copper contains very little oxygen content and is known to be more resistant to short circuit and has a higher durability as compared to its counterparts. The reduced oxygen content of the product enhances its resistance to corrosion. In this regard, oxygen-free copper is widely used in structural and thermal applications.
Meanwhile, electrolytic copper is a type of copper which has high tensile strength and excellent ductility, making it suitable for applications across various end-use sectors, including electronics, in North America.
Market Share by Form
Among different forms of copper, copper plates are one of the most useful materials, applied in several sectors across the United States and Canada. Copper plates have high malleability, corrosion resistance, lubricity, and anti-bacterial properties. Hence, they are ideal for utilisation in sectors such as marine, electrical and electronics, military, and HVAC, among others.
Competitive Landscape
Electric Materials Company is a leading manufacturer of copper-related products, such as copper forgings, casting, and billets, among others. It was founded in 1915 and is headquartered in Pennsylvania, the United States.
Mitsubishi Materials Corporation is a prominent cement manufacturing company which also offers copper and aluminium products, along with electronic components. The company was established in 1871 and is headquartered in Tokyo, Japan.
Rio Tinto Group is a multinational company which is one of the largest metals and mining corporations. The company was founded in 1873 and is currently headquartered in London, the United Kingdom.
Other market players include Freeport-McMoRan Inc., Capstone Copper Corp., Concast Metal Products Company, Montana Resources LLP, Newmont Corporation, and KGHM Polska Miedź S.A., among others.
Key Highlights of the Report
| 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 Grade |
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| Breakup by Form |
|
| Breakup by End Use |
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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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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Copper Market Overview
8.1 Key Industry Highlights
8.2 North America Copper Historical Market (2018-2023)
8.3 North America Copper Market Forecast (2024-2032)
9 North America Copper Market by Grade
9.1 Pure Coppers
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Oxygen-free Coppers
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Electrolytic Coppers
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Free-Machining Coppers
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 North America Copper Market by Form
10.1 Wire Rods
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Plates
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Sheet and Strips
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Tube
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Bars and Sections
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 North America Copper Market by End Use
11.1 Building and Construction
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Electrical and Electronic
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Automotive and Heavy Equipment
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Consumer and General Products
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Industrial and Machinery Equipment
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 North America Copper Market by Country
12.1 United States
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Canada
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Trade Data Analysis
14.1 Major Exporting Countries
14.1.1 By Value
14.1.2 By Volume
14.2 Major Importing Countries
14.2.1 By Value
14.2.2 By Volume
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Electric Materials Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Mitsubishi Materials Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Rio Tinto Group
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Freeport-McMoRan Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Capstone Copper Corp.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Concast Metal Products Company
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Montana Resources LLP
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Newmont Corporation
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 KGHM Polska Miedź S.A.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Copper Market: Key Industry Highlights, 2018 and 2032
2. North America Copper Historical Market: Breakup by Grade (USD Million), 2018-2023
3. North America Copper Market Forecast: Breakup by Grade (USD Million), 2024-2032
4. North America Copper Historical Market: Breakup by Form (USD Million), 2018-2023
5. North America Copper Market Forecast: Breakup by Form (USD Million), 2024-2032
6. North America Copper Historical Market: Breakup by End Use (USD Million), 2018-2023
7. North America Copper Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. North America Copper Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Copper Market Forecast: Breakup by Country (USD Million), 2024-2032
10. North America Copper Market Structure
Key Questions Answered in the Report
The market reached a value of nearly 2,092.04 KMT in 2023.
The market is estimated to grow at a CAGR of 2.40% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 2,584.76 KMT by 2032.
The rising demand for copper from the building and construction sector, the thriving manufacturing sector, and the heightening demand for copper in electrical wiring to meet the power requirement across the United States and Canada are the major drivers of the market.
The key trends in the market include technological advancements in the automotive sector and the rapid expansion of end-users of copper, such as the marine and HVAC sectors.
Pure coppers, oxygen-free coppers, electrolytic coppers, and free-machining coppers are the different forms of copper included in the market.
Wire rods, plates, sheet and strips, tube, and bars and sections, among others, are the major forms of copper considered in the market report.
Electric Materials Company, Mitsubishi Materials Corporation, Rio Tinto Group, Freeport-McMoRan Inc., Capstone Copper Corp., Concast Metal Products Company, Montana Resources LLP, Newmont Corporation, and KGHM Polska Miedz S.A., among others, are the key North America copper market players.
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