USA and Canada Copper Market
Fundamental Core of Human Progress: How are Copper Manufacturers Meeting the USA and Canada’s Unmet Demand for this Prized Metal? Read Exclusive Details in Future Market Insights’ Report!
USA and Canada Copper Market by End-use Industry & Region - Forecast 2022 to 2032
USA and Canada Copper Market Outlook (2022 to 2032)
The USA and Canada copper market is estimated to reach a valuation of US$ 19,881.8 million in 2022. A valuation of about US$ 32,773.0 million is anticipated to be recorded by the market in 2032. Increasing use of copper as a conductor, a building material, and a component of several metal alloys is projected aid the growth at a CAGR of 5.1% during the assessment period (2022 to 2032).
Copper is a ductile, soft metal with great electrical and thermal conductivity. It is extensively used in architecture & construction, electronics, and consumer and general products. Copper is also considered to be one of the essential minerals for all living organisms as a trace dietary mineral.
Copper is recyclable without compromising quality, both in manufactured and raw form. It is primarily generated commercially through smelting or leaching, which is frequently followed by electrodeposition from sulfate solutions.
Expansion of the construction industry is favoring growth in the market as copper plays a vital role, and is consumed in significant quantities for construction applications. The electronics industry is also expected to bolster demand for copper as it is used in electronic products for various functions due to its beneficial properties.
Copper is further used in different end-use industries to perform various functions. From building & construction to transportation and industrial machinery, it can be found easily. Compared to other frequently used metals, copper offers significantly reduced resistance to electricity flow, making it the ideal non precious metal conductor.
In today's global information and communications technology, copper is set to be an essential metal. Domestic subscriber lines, wide & local area networks, cell phones, and desktop computers all require copper, as well as copper alloy components.
It is safe to assume that copper and its alloys are prevalent wherever industrial machinery and equipment are found. Copper alloys are suitable for producing goods such as bearings, gears, and turbine blades due to their robust strength, machinability, and capacity for casting with exact precision and tolerances.
Use of copper-based items is gaining immense traction across the offices, homes, and workplaces worldwide. Computers, electrical gadgets, cookware, brassware, locks, and keys are just a few items that make use of the benefits of copper.
Copper performs essential services that are required by all significant modes of transportation. On the hulls of ships and boats, copper-nickel alloys are extensively utilized to lessen marine befouling, which lowers drag and increases fuel efficiency. Wiring, copper motors, radiators, connectors, brakes, and bearings are a few essential components of automobiles and trucks.
|
Attributes |
Key Insights |
|
USA and Canada Copper Market Estimated Size (2022E) |
US$ 19,881.8 million |
|
Projected Market Valuation (2032F) |
US$ 32,773.0 million |
|
Value-based CAGR (2022 to 2032) |
5.1% |
|
Collective Value Share: Top 3 regions (USA) (2022E) |
71.5% |
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2017 to 2021 USA and Canada Copper Market Outlook Compared to Demand Forecast from 2022 to 2032
The USA and Canada copper market showcased considerable growth at a CAGR of 12.7% in the historical period from 2017 to 2021. Based on current estimations, the market is anticipated to witness a CAGR of about 5.1% over the period of 2022 to 2032.
Prominent steps taken by the government and other authorities to support net-zero emission goals are likely to drive the market. Use of copper in energy transition and conventional applications of the metal are few other factors that would drive copper demand.
Comparative Analysis of Adjacent USA and Canada Copper Markets
USA and Canada Copper Market:
|
Differentiating Aspects |
USA and Canada Copper Market |
|
CAGR in 2022-2032 |
5.1% |
|
Current Valuation in 2022 |
US$ 19,881.8 million |
|
Projected Valuation in 2032 |
US$ 32,773.0 million |
|
Demand Drivers |
|
Copper Azoles Market:
|
Differentiating Aspects |
Copper Azoles Market |
|
CAGR in 2022-2032 |
6% |
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Current Valuation in 2022 |
US$ 25 billion |
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Projected Valuation in 2032 |
US$ 44.7 billion |
|
Demand Drivers |
|
Activated Alumina Market:
|
Differentiating Aspects |
Activated Alumina Market |
|
CAGR in 2022-2032 |
4.9% |
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Current Valuation in 2022 |
US$ 906.4 million |
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Projected Valuation in 2032 |
US$ 1,465.0 million |
|
Demand Drivers |
|
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Talk to AnalystTop Trends Pushing Demand for Copper across the USA and Canada
- Increasing Use of Copper Sheets in Electric Vehicle Batteries to Spur Sales
Copper has been used by humans for over 10,000 years due to its numerous qualities. It is robust but flexible, corrosion-resistant & recyclable, a great conductor of heat & electricity, and antibacterial. It helps keep humans safe from infection. Copper is likewise poised to take lead in the transition to a low-carbon economy. Energy transition refers to electrification on a vast scale.
Its excellent electrical and thermal conductivity makes it vital for batteries and all of the wiring necessary for electric vehicle charging infrastructure. Renewable energy systems use up to six times as much copper as fossil fuel systems, whereas electric vehicles need up to four times as much copper as traditional vehicles.
Net-zero ambitions for the automobile sector will necessitate a move from internal combustion engines to battery-powered electric vehicles. Numerous automakers intend to convert their fleets to electric and hybrid vehicles.
Copper is also considered to be a recycled metal, making it one of the most environmentally friendly metals in use today. It is used in electric vehicles, wind & solar power, and energy storage batteries. Copper is also important in renewable energy infrastructure due to its electrical conductivity and low reactivity. Cables, transistors, and inverters are among their applications. Energy transition will be far more reliant on copper than the current energy system.
Country-wise Insights
How are USA-based Copper Manufacturers Faring?
Stringent Emission Norms in the USA to Fuel Sales of Insulated Copper Wires by 2032
The USA holds more than 85% of share in the North America copper market. The USA copper market is expected to escalate with a CAGR of 5.0% during the projected period, says Future Market Insights.
The USA is set to be the fourth-largest producer of copper across the globe. The country has a presence of several copper mines and production facilities along with well-established end-use industries. The country is also one of the most significant consumers of refined copper. Availability of abundant domestic deposits makes the USA a self-sufficient producer of copper.
The country has also announced decarbonization goals that would drive up the demand for copper in the country. The ‘Net-Zero’ emission goals will help to propel sales of copper in the country. By 2035, rapid electrification of automobiles and development of clean electricity are likely to drive copper demand across the USA.
Would Canada-based Copper Providers Witness a Positive Growth Outlook?
Increasing Spending on Green Infrastructure in Canada to Boost Copper Sheet Metal Sales
Canada is set to maintain a strong position in the copper recycling industry during the next ten years. The country is expected to witness a significant growth rate owing to expansion of numerous end-use industries such as electronics & electrical products and building & construction. The Canada copper market is expected to reach about US$ 4,616.9 million during the forecast period. Copper demand has surged in Canada with high adoption of electric vehicles, development of renewable energy, and surging green infrastructure spending.
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Category-wise Insights
Why is Demand for Copper Set to Expand among Building and Construction Companies?
High Electrical and Thermal Conductivity to Propel Sales of Pure Copper Worldwide
Increasing construction and infrastructural activities along with urgent need for housing space are expected to bolster the overall building and construction industry. Growth of the construction industry demands metal and metal products that are used in different applications.
Copper is extensively used in various aspects of this industry. It also has a direct impact as the building and construction industry is considered to be one of the prominent consumers of the metal. The building and construction end-use industry is expected to reach about US$ 15,152.0 million during the projected period in the USA and Canada copper market, says Future Market Insights.
Copper is a malleable, soft, and ductile metal with high electrical and thermal conductivity, as well as good corrosion resistance. It is commonly used in the construction industry such as in pipes and tubes.
It can be made to form different shapes, and can be used as cladding and flashing material for downpipes and others. Copper is used for architectural elements, including roofs, domes, spires, vaults, and building expansion joints.
Copper, unlike plastic tubing, does not burn, melt, or emit unpleasant or hazardous vapors in the event of a fire. Copper fire sprinkler systems are an important building safety component. Copper roofing is well known for its resistance to adverse weather conditions, in addition to its aesthetic appeal.
Copper is set to be mainly used for rainwater products and roofing in public buildings, industrial buildings, and houses. Natural weathering produces a distinctive green patina finish that gives copper its iconic look of warmth and richness.
Why are Sales of Copper Burgeoning in the Field of Electrical and Electronic Products?
Increasing Use of Polishing Copper in Wires for Telecommunication and Power Generation to Aid Demand
As per estimations by Future Market Insights, the electrical and electronic products end-use industry is expected to escalate with a CAGR of 5.8% during the forecast period. The electrical and electronic products segment is anticipated to surge at a fast pace owing to increased usage of electronics and electrical devices in various industries.
Wires, chips, conductors, and circuit boards made of copper are extensively used in electronics and electrical products. Demand for these products is witnessing growth owing to their increasing usage by all age groups and end-use industries. High demand for these products will help the copper market to surge across the USA and Canada. High thermal and electrical conductivity of copper will further help to boost its utilization in electronic products.
Electrical uses of copper include power transmission and generation, as well as wires for building purposes and telecommunication. Due to its high ductility, malleability, and electrical conductivity, it is extensively used in almost all types of wiring. In electronics, copper is used in chips, conductors, external cables, connectors, sockets, and leadframes.
Competitive Landscape
The USA and Canada copper market has a robust presence of certain key players who hold a dominant share. Key players are focused on partnerships with local companies, as well as expansion strategies. The focus is also on improving extraction rate of copper ores by enhancing the overall process, which will benefit producers, as well as end users.
Few of the key players profiled in the report are Electric Materials Company, Modison Metals Limited, Mitsubishi Materials Corporation, Mehta Tubes Ltd, Krishna Engineering Industries, Anglo American plc, Concast Metal Product Co., Saru Copper Alloy Semis Pvt. Ltd, KME Germany GmbH, Glencore plc, Sipi Metals Corp., Belmont Metals Inc., Mueller Industries, Inc., and Finkelstein Metals USA among others.
Scope of the Report
|
Attribute |
Details |
|
Estimated Market Size (2022) |
US$ 19,881.8 million |
|
Projected Market Valuation (2032) |
US$ 32,773.0 million |
|
Value-based CAGR (2022 to 2032) |
5.1% |
|
Forecast Period |
2022 to 2032 |
|
Historical Data Available for |
2017 to 2021 |
|
Market Analysis |
Value (US$ million) and Volume (Kilotons) |
|
Key Countries Covered |
USA and Canada |
|
Key Segments Covered |
End-use Industry and Countries |
|
Key Companies Profiled |
|
|
Report Coverage |
Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
USA and Canada Copper Market Outlook by Category
By End-use Industry:
- Building and Construction
- Electrical and Electronic Products
- Transportation
- Consumer and General Products
- Industrial Machinery and Equipment
By Country:
- The USA
- Canada
Frequently Asked Questions
What was the USA and Canada copper industry size reported by Future Market Insights for 2022?
The market for copper in the USA and Canada has reported a valuation of US$ 19,881.8 million in 2022.
What is the USA and Canada copper industry valuation expected for 2032?
The market for copper in the USA and Canada is estimated to reach a valuation of US$ 32,773.0 million in 2032.
What is the projected CAGR for the USA and Canada copper industry from 2022 to 2032?
The market for copper in the USA and Canada is set to elevate at a CAGR 5.1% from 2022 to 2032.
Which end-use industry segment is likely to garner significant value share by 2022?
The building and construction segment is estimated to consume about 45.3% of the USA and Canada copper consumption by 2022.
What was the collective value share of top 3 regions, including the USA and Canada in 2022?
Top 3 regions, including the USA and Canada registered a value share of around 71.5% in 2022.
Table of Content
1. Executive Summary | USA and Canada Copper Market 1.1. Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Success Factors 3.1. Product Adoption / Usage Analysis 3.2. Product USPs / Features 3.3. Strategic Promotional Strategies 4. Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Volume (Kilotons) Analysis, 2017 to 2021 4.2. Current and Future Market Volume (Kilotons) Projections, 2022 to 2032 4.3. Y–o–Y Growth Trend Analysis 5. Market Demand (in Value or Size in US$ million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 5.1. Historical Market Value (US$ million) Analysis, 2017 to 2021 5.2. Current and Future Market Value (US$ million) Projections, 2022 to 2032 5.2.1. Y–o–Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Market – Pricing Analysis 6.1. Regional Pricing Analysis 7. Market Background 7.1. Forecast Factors 7.2. Value Chain Analysis 7.2.1. List of Raw Material Suppliers 7.2.2. List of Product Manufacturers 7.2.3. List of Distributors 7.2.4. List of Probable End-use Industries 8. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use Industry 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ million) and Volume Analysis by End Use Industry, 2017 to 2021 8.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast by End Use Industry, 2022 to 2032 8.3.1. Building and Construction 8.3.2. Electrical and Electronic Products 8.3.3. Transportation 8.3.4. Consumer and General Products 8.3.5. Industrial Machinery and Equipment 8.4. Market Attractiveness Analysis by End Use Industry 9. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 9.1. Introduction 9.2. Historical Market Size (US$ million) and Volume Analysis by Region, 2017 to 2021 9.3. Current Market Size (US$ million) and Volume Analysis and Forecast by Region, 2022 to 2032 9.3.1. United States 9.3.2. Canada 9.4. Market Attractiveness Analysis by Region 10. United States Market Analysis 2017 to 2032 and Forecast 2022 to 2032 10.1. Introduction 10.2. Pricing Analysis 10.3. Historical Market Size (US$ million) and Volume Trend Analysis by Market Taxonomy, 2017 to 2021 10.4. Market Size (US$ million) and Volume Forecast by Market Taxonomy, 2022 to 2032 10.4.1. By End Use Industry 10.4.2. By Country 10.4.2.1. Northeast 10.4.2.2. Midwest 10.4.2.3. South 10.4.2.4. West 10.5. Market Attractiveness Analysis 10.5.1. By End Use Industry 10.5.2. By Country 11. Canada Market Analysis 2017 to 2032 and Forecast 2022 to 2032 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Market Size (US$ million) and Volume Trend Analysis by Market Taxonomy, 2017 to 2021 11.4. Market Size (US$ million) and Volume Forecast by Market Taxonomy, 2022 to 2032 11.4.1. By End Use Industry 11.4.2. By Country 11.4.2.1. The Atlantic Provinces 11.4.2.2. Central Canada 11.4.2.3. The West Coast 11.4.2.4. The Northern Territories 11.5. Market Attractiveness Analysis 11.5.1. By End Use Industry 11.5.2. By Country 12. Market Structure Analysis 12.1. Market Analysis by Tier of Companies (Copper) 12.2. Market Concentration 12.3. Market Share Analysis of Top Players 13. Competition Analysis 13.1. Competition Dashboard 13.2. Competition Benchmarking 13.3. Competition Deep Dive 13.3.1. Electric Materials Company 13.3.1.1. Overview 13.3.1.2. Product Portfolio 13.3.1.3. Profitability by Market Segments (Product/Channel/Region) 13.3.1.4. Sales Footprint 13.3.1.5. Strategy Overview 13.3.2. Modison Metals Limited 13.3.2.1. Overview 13.3.2.2. Product Portfolio 13.3.2.3. Profitability by Market Segments (Product/Channel/Region) 13.3.2.4. Sales Footprint 13.3.2.5. Strategy Overview 13.3.3. Mitsubishi Materials Corporation 13.3.3.1. Overview 13.3.3.2. Product Portfolio 13.3.3.3. Profitability by Market Segments (Product/Channel/Region) 13.3.3.4. Sales Footprint 13.3.3.5. Strategy Overview 13.3.4. Mehta Tubes Ltd 13.3.4.1. Overview 13.3.4.2. Product Portfolio 13.3.4.3. Profitability by Market Segments (Product/Channel/Region) 13.3.4.4. Sales Footprint 13.3.4.5. Strategy Overview 13.3.5. Krishna Engineering Industries 13.3.5.1. Overview 13.3.5.2. Product Portfolio 13.3.5.3. Profitability by Market Segments (Product/Channel/Region) 13.3.5.4. Sales Footprint 13.3.5.5. Strategy Overview 13.3.6. Anglo American plc 13.3.6.1. Overview 13.3.6.2. Product Portfolio 13.3.6.3. Profitability by Market Segments (Product/Channel/Region) 13.3.6.4. Sales Footprint 13.3.6.5. Strategy Overview 13.3.7. Concast Metal Product Co. 13.3.7.1. Overview 13.3.7.2. Product Portfolio 13.3.7.3. Profitability by Market Segments (Product/Channel/Region) 13.3.7.4. Sales Footprint 13.3.7.5. Strategy Overview 13.3.8. Saru Copper Alloy Semis Pvt. Ltd 13.3.8.1. Overview 13.3.8.2. Product Portfolio 13.3.8.3. Profitability by Market Segments (Product/Channel/Region) 13.3.8.4. Sales Footprint 13.3.8.5. Strategy Overview 13.3.9. KME Germany GmbH 13.3.9.1. Overview 13.3.9.2. Product Portfolio 13.3.9.3. Profitability by Market Segments (Product/Channel/Region) 13.3.9.4. Sales Footprint 13.3.9.5. Strategy Overview 13.3.10. Bright Metals Pvt Ltd 13.3.10.1. Overview 13.3.10.2. Product Portfolio 13.3.10.3. Profitability by Market Segments (Product/Channel/Region) 13.3.10.4. Sales Footprint 13.3.10.5. Strategy Overview 13.3.11. Glencore plc 13.3.11.1. Overview 13.3.11.2. Product Portfolio 13.3.11.3. Profitability by Market Segments (Product/Channel/Region) 13.3.11.4. Sales Footprint 13.3.11.5. Strategy Overview 13.3.12. Sipi Metals Corp. 13.3.12.1. Overview 13.3.12.2. Product Portfolio 13.3.12.3. Profitability by Market Segments (Product/Channel/Region) 13.3.12.4. Sales Footprint 13.3.12.5. Strategy Overview 13.3.13. Belmont Metals Inc. 13.3.13.1. Overview 13.3.13.2. Product Portfolio 13.3.13.3. Profitability by Market Segments (Product/Channel/Region) 13.3.13.4. Sales Footprint 13.3.13.5. Strategy Overview 13.3.14. Mueller Industries, Inc. 13.3.14.1. Overview 13.3.14.2. Product Portfolio 13.3.14.3. Profitability by Market Segments (Product/Channel/Region) 13.3.14.4. Sales Footprint 13.3.14.5. Strategy Overview 13.3.15. Finkelstein Metals USA 13.3.15.1. Overview 13.3.15.2. Product Portfolio 13.3.15.3. Profitability by Market Segments (Product/Channel/Region) 13.3.15.4. Sales Footprint 13.3.15.5. Strategy Overview 14. Assumptions and Acronyms Use 15. Research Methodology
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List of Tables
Table 01: Market Size Volume (Kilotons) and Value (US$ million) Forecast by End Use Industry, 2017 to 2032 Table 02: Market Size Volume (Kilotons) and Value (US$ million) Forecast by Country, 2017 to 2032 Table 03: USA Copper Market Size Volume (Kilotons) and Value (US$ million) Forecast by Region, 2017 to 2032 Table 04: USA Copper Market Size Volume (Kilotons) and Value (US$ million) Forecast by End Use Industry, 2017 to 2032 Table 05: Canada Copper Market Size Volume (Kilotons) and Value (US$ million) Forecast by Region, 2017 to 2032 Table 06: Canada Copper Market Size Volume (Kilotons) and Value (US$ million) Forecast by End Use Industry, 2017 to 2032
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Talk to AnalystList of Charts
Figure 01: Market Historical Volume (Kilotons), 2017 to 2022 Figure 02: Market Current and Forecast Volume (Kilotons), 2022 to 2032 Figure 03: Market Historical Value (US$ million), 2017 to 2022 Figure 04: Market Current and Forecast Value (US$ million), 2022 to 2032 Figure 05: Market Incremental $ Opportunity (US$ million), 2022 to 2032 Figure 06: Market Share and Basis point share Analysis by End Use Industry– 2022 to 2032 Figure 07: Market Y–o–Y Growth Projections by End Use Industry, 2022 to 2032 Figure 08: Market Attractiveness Analysis by End Use Industry, 2022 to 2032 Figure 09: Market Absolute $ Opportunity by Building and Construction, 2017 to 2032 Figure 10: Market Absolute $ Opportunity by Electrical and Electronics, 2017 to 2032 Figure 11: Market Absolute $ Opportunity by Transportation, 2017 to 2032 Figure 12: Market Absolute $ Opportunity by Consumer and General Products, 2017 to 2032 Figure 13: Market Absolute $ Opportunity by Industrial Machinery and Equipment, 2017 to 2032 Figure 14: Market Share and Basis point share Analysis by Country– 2022 to 2032 Figure 15: Market Y–o–Y Growth Projections by Country, 2022 to 2032 Figure 16: Market Attractiveness Analysis by Country, 2022 to 2032 Figure 17: Market Absolute $ Opportunity by USA Segment, 2017 to 2032 Figure 18: Market Absolute $ Opportunity by Canada Segment, 2017 to 2032 Figure 19: USA Copper Market Share and Basis point share Analysis by Region– 2022 to 2032 Figure 20: USA Copper Market Y–o–Y Growth Projections by Region, 2022 to 2032 Figure 21: USA Copper Market Attractiveness Analysis by Region, 2022 to 2032 Figure 22: USA Copper Market Share and Basis point share Analysis by End Use Industry– 2022 to 2032 Figure 23: USA Copper Market Y–o–Y Growth Projections by End Use Industry, 2022 to 2032 Figure 24: USA Copper Market Attractiveness Analysis by End Use Industry, 2022 to 2032 Figure 25: Canada Copper Market Share and Basis point share Analysis by Region– 2022 to 2032 Figure 26: Canada Copper Market Y–o–Y Growth Projections by Region, 2022 to 2032 Figure 27: Canada Copper Market Attractiveness Analysis by Region, 2022 to 2032 Figure 28: Canada Copper Market Share and Basis point share Analysis by End Use Industry– 2022 to 2032 Figure 29: Canada Copper Market Y–o–Y Growth Projections by End Use Industry, 2022 to 2032 Figure 30: Canada Copper Market Attractiveness Analysis by End Use Industry, 2022 to 2032
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