USA and Canada Copper Market by End-use Industry & Region - Forecast 2022 to 2032
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 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
Surging use of copper in residential electrical circuits, switches, transformers, communication cables, and dynamos would push sales.
Increasing demand for electric vehicles is projected to fuel sales of copper for the manufacturing of hollow wires, stators, and shaft heads.
Copper Azoles Market:
Differentiating Aspects
Copper Azoles Market
CAGR in 2022-2032
6%
Current Valuation in 2022
US$ 25 billion
Projected Valuation in 2032
US$ 44.7 billion
Demand Drivers
High demand for agrochemicals is estimated to propel need for copper azoles as they can enhance performance and lower toxicity levels of additives.
Surging use of copper azoles in wood-related applications, including bridges, landscaping, fresh-water structures, and docks, would drive sales.
Activated Alumina Market:
Differentiating Aspects
Activated Alumina Market
CAGR in 2022-2032
4.9%
Current Valuation in 2022
US$ 906.4 million
Projected Valuation in 2032
US$ 1,465.0 million
Demand Drivers
Rising adoption of activated alumina backed by high demand for adsorbents in water treatment and oil & gas sectors would boost sales.
Increasing use of activated alumina in textile and biopharmaceutical industries for making several steroids, antibiotics, and vaccines would augment sales in the market.
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Top 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
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
Bright Metals Pvt Ltd
Glencore plc
Sipi Metals Corp.
Belmont Metals Inc.
Mueller Industries, Inc.
Finkelstein Metals USA
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 Use15. 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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List 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
