Published Date : Apr 15, 2016
Copper is a reddish-orange chemical element that is malleable, soft, and ductile. It bears a high electrical and thermal conductivity. Copper is widely used as a conductor of electricity and heat, as a constituent of different material, and as a building element. In addition, copper is considered as a versatile metal with exta0ordinary physical, chemical, and aesthetic properties.
The two major alloys of copper available in the market are:
Copper metal is traded in several forms including sheets and strips, bars, wire rods, and sections. Among these forms, the wire rod segment accounts for the largest share in the overall copper market. On the other hand, copper rods are also used widely for manufacturing magnet wires for electronic parts, large capacity underground and submarine cables, ultra-high voltage, and wire harness for automobiles.
The global copper market finds application in diverse sectors, such as industrial, construction, transportation, electrical and electronic products, and others. The technological advancements have further increased the applications of copper. Thus, the demand for copper is anticipated to grow in the next few years.
Growing electrical and electronics market is one of the major factors fueling the growth of the global market for copper. In addition, the increase in infrastructural activities across the globe is expected to augment the growth of the market in the next few years. On the flip side, the competition from substitute materials is estimated to hamper the growth of the market in the near future.
The increasing demand for copper in green buildings holds immense potential for the market players operating in the global copper market. As a result, several players are estimated to participate in the global copper market in the near future. These players are taking constant efforts to create a niche for themselves and gain the competitive advantage in the global copper market.
Some of the major players operating in the global market are Grupo Mexico, Antofagasta plc, Tongling Nonferrous Metals Group, JX Nippon Mining & Metals, Jiangxi Copper Corp, BHP Billiton Group, Anglo American plc, Codelco, Glencore International AG, Aurubis AG, Rio Tinto Group, Freeport McMorRan Inc., and KGHM Polska Mied.