The global Copper Rod market stood at approximately 2.1 million tonnes in 2023 and is anticipated to grow at a CAGR of 4.5% during the forecast period until 2034.
Copper rods find diverse industrial applications owing to their excellent conductivity, corrosion resistance, and malleability. In the electrical industry, copper rods serve as essential components for manufacturing electrical wiring, cables, and conductors due to their superior electrical conductivity, ensuring efficient transmission of electricity in power distribution systems. Moreover, copper rods are utilized in the production of motors, transformers, and generators, where their conductivity and durability are crucial for ensuring optimal performance and reliability. In the construction sector, copper rods are employed in plumbing systems, HVAC (heating, ventilation, and air conditioning) installations, and roofing applications, where their corrosion resistance and longevity make them ideal for use in harsh environments. Additionally, copper rods are utilized in the manufacturing of various industrial machinery and equipment, such as pumps, valves, and heat exchangers, where their thermal conductivity and resistance to corrosion and wear play a vital role in enhancing equipment performance and longevity. Furthermore, copper rods find applications in the automotive industry for manufacturing components such as radiators, brake lines, and electrical connectors, where their conductivity and formability are valued attributes.
There are many drivers influencing the global Copper Rod market. Firstly, the increasing demand for electricity and infrastructure development, particularly in emerging economies, drives the need for copper rods in electrical wiring, cables, and conductors. Additionally, the growth of renewable energy sources like wind and solar power necessitates copper rods for transmission and distribution infrastructure. Moreover, the automotive industry's shift towards electric vehicles and the growing popularity of electric-powered machinery and appliances contribute to the demand for copper rods in motor winding and electrical components. Furthermore, urbanization and construction activities drive the demand for copper rods in plumbing, Heating, Ventilation, and Air Conditioning (HVAC) systems, and roofing applications. Additionally, technological advancements and innovations in copper rod production processes, such as continuous casting and oxygen-free manufacturing methods, improve efficiency and product quality, further stimulating market growth. Moreover, favourable government policies promoting infrastructure development, renewable energy adoption, and energy efficiency initiatives support the copper rod market's expansion. The global Copper Rod market is likely to reach approximately 3.5 million tonnes in 2034.
Asia Pacific asserts its dominance in the copper rod market due to several key factors. Firstly, the region's robust economic growth and rapid industrialization have led to increased demand for copper rods across various sectors, including construction, electrical, automotive, and manufacturing industries. Moreover, Asia Pacific is home to several emerging economies with large populations, such as China and India, where urbanization and infrastructure development projects drive substantial demand for copper rods in electrical wiring, plumbing, and construction applications. Additionally, the region's strong manufacturing base and technological capabilities enable it to produce copper rods efficiently and cost-effectively, meeting both domestic and global demand. Furthermore, favorable government policies and investments in renewable energy infrastructure, such as wind and solar power projects, further boost the demand for copper rods in the transmission and distribution of electricity. Moreover, Asia Pacific benefits from the presence of major copper mining and refining operations in countries like China, Chile, and Australia, ensuring a steady supply of raw materials for copper rod production. Additionally, the region's strategic location facilitates trade and export opportunities, allowing Asian copper rod manufacturers to serve global markets effectively.
Based on the end-user applications, the global Copper Rod market is divided into Electricals & Electronics, Construction, Automotive & Transportation, and Others. Among these, Electricals & Electronics is the major segment and held about 67% of the global Copper Rod market in 2023.
Significant players in the Global Copper Rod market are Aurubis AG, Jiangxi Copper Corporation, Mitsubishi Materials Corporation, Sumitomo Electric Industries, Ltd., KME Germany GmbH & Co KG, Wieland-Werke AG, Luvata Oy, Copper Development Association Inc., Southwire Company, LLC, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Copper Rod which covers production, demand and supply of Copper Rod market in the globe.
• To analyse and forecast the market size of Copper Rod
• To classify and forecast Global Copper Rod market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Copper Rod market in the globe.
To extract data for Global Copper Rod market, primary research surveys were conducted with Copper Rod manufacturers, suppliers, distributors, wholesalers and traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Copper Rod market over the coming years.
ChemAnalyst calculated Copper Rod demand across the globe by analyzing the volume of Copper Rod consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Copper Rod manufacturers and other stakeholders
• Organizations, forums and alliances related to Copper Rod distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Copper Rod manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Copper Rod market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
2.1 million tonnes
Market size Volume in 2034
3.5 million tonnes
Growth Rate
CAGR of 4.5% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Electricals & Electronics, Construction, Automotive & Transportation, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Copper Rod market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Copper Rod.
3. Capacity By Location
To better understand the regional supply of Copper Rod by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Copper Rod by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use Application [Quarterly Update]
Discover which end-use (Electricals & Electronics, Construction, Automotive & Transportation, and Others) are creating a market and the forecast for the growth of the Copper Rod market.
7. Demand by Region
Analyzing the change in demand of Copper Rod in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Copper Rod. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Copper Rod.
10. Company Share
Figure out what proportion of the market share of Copper Rod is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Copper Rod.
12. Country-wise Export
Get details about quantity of Copper Rod exported by major countries.
13. Country-wise Import
Get details about quantity of Copper Rod imported by major countries.
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It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Copper Rod in terms of volume in 2023?
Ans:
The global market size of Copper Rod has reached approximately 2.1 million tonnes in 2023.
Q2.
Which region is the leading consumer of Copper Rod?
Ans:
The Asia Pacific region is the leading consumer of Copper Rod globally.
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