Copper Market To Reach $339.95 Billion By 2030 | CAGR: 6.5%

 

The global Copper Market size is anticipated to reach USD 339.95 billion by 2030 and is projected to grow at a CAGR of 6.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. Copper is essential in the construction sector due to its excellent conductivity, corrosion resistance, and durability. It is extensively used in wiring, plumbing, roofing, and heating systems. As emerging economies like India, Vietnam, and several African nations continue to invest heavily in smart cities, transportation networks, and modern housing, the demand for copper in residential and commercial construction is expected to grow substantially over the coming years.

Another major driver is the transition toward renewable energy and electrification. Solar and wind power installations require large quantities of copper for turbines, photovoltaic cells, inverters, and power grid connections. According to the International Energy Agency (IEA), renewable energy investments reached record levels in 2024, particularly in Asia Pacific, Europe, and North America. Moreover, developing smart grids and battery storage systems-critical for integrating intermittent renewable sources-heavily depend on copper wiring and components. This energy shift is fundamentally altering copper consumption patterns globally.

The rise of electric vehicles (EVs) and supporting infrastructure is another powerful growth catalyst. EVs use up to four times more copper than traditional internal combustion engine vehicles, particularly in batteries, electric motors, wiring harnesses, and thermal management systems. Charging stations, which are expanding rapidly in Europe, the U.S., and China, also rely on copper for energy transmission. As governments introduce stricter emission norms and incentives to boost EV adoption, the automotive industry’s copper demand is projected to increase exponentially through 2030 and beyond.

Technological advancements in electronics and communication also contribute significantly to copper industry growth. Copper is vital in printed circuit boards, connectors, semiconductors, and high-frequency data cables used in smartphones, data centers, IoT devices, and 5G infrastructure. As the global economy becomes increasingly digital, the proliferation of electronic devices and cloud computing continues to fuel the demand for high-purity copper products. This segment is particularly strong in East Asia, where consumer electronics manufacturing is concentrated.

Moreover, the increased focus on sustainability and circular economy practices has increased interest in copper recycling. Recycled or secondary copper requires far less energy to produce and reduces the environmental impact of mining. As industries prioritize carbon neutrality and material efficiency, recycling copper from scrap metal, obsolete electronics, and decommissioned infrastructure are expected to rise. This supports demand and enhances supply chain resilience amid fluctuating ore grades and geopolitical uncertainties. These factors create a strong long-term growth outlook for the global copper industry. 

List of Key Players in the Copper Market

• AngloAmerican
• Antofagasta plc.
• Aurubis AG
• BHP
• Codelco
• Freeport-McMoRan
• Glencore
• GRUPO MÉXICO
• Jiangxi Copper Corporation
• KGHM
• Rio Tinto
• Teck Resources Limited

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Copper Market Report Highlight

• Based on type, the primary copper segment led the market with the largest revenue market share of 84.8% in 2024, due to its high purity, widespread availability from large-scale mining operations, and critical application in industries requiring superior conductivity, such as electrical infrastructure, automotive, and renewable energy systems.
• The wire segment led the market with the largest revenue share of 61.7% in 2024, driven by the extensive use of copper wire in power transmission, residential and commercial electrical systems, electronics, and the rapidly expanding electric vehicle and renewable energy sectors that require efficient and reliable conductivity solutions.
• Based on end use, the infrastructure segment is anticipated to register at the fastest CAGR of 7.0% over the forecast period, due to increasing global investments in smart grids, transportation networks, renewable energy integration, and urban development projects, all of which require significant copper inputs for electrical systems, communication lines, and energy distribution frameworks.
• Asia Pacific dominated the market with the largest revenue share of 74.7% in 2024, due to the presence of major copper-consuming economies like China and India, rapid industrialization, large-scale infrastructure development, and the region’s leadership in electronics manufacturing, renewable energy installations, and electric vehicle production. 

Copper Market Segmentation

Grand View Research has segmented the global copper market based on type, product, end use, and region:

Copper Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Primary Copper
• Secondary Copper

Copper Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Wire
• Rods, Bars & Sections
• Flat Rolled Products
• Tube
• Foil

Copper End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Industrial Equipment
• Transport
• Infrastructure
• Building & Construction
• Consumer & General Products
• Others

Copper Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• Italy
• France
• Russia
• Asia Pacific
• China
• India
• Japan
• South Korea
• Latin America
• Brazil
• Middle East & Africa
• Saudi Arabia
• UAE

 

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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