Copper increased 1.13 USd/LB or 28.38% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Copper - values, historical data, forecasts and news - updated on March of 2025.

As of June 20, 2024, copper futures contracts to be settled in July 2029 were trading on U.S. markets at around 4.5 U.S. dollars per pound. This is higher than the price of 3.92 U.S. dollars per pound for contracts to be settled in January 2024, indicating that copper traders expect the price of copper to fluctuate. Copper futures are contracts that effectively lock in a price for an amount of copper to be purchased at a time in the future, which can then be traded on markets. Futures markets therefore provide an indicator of how investors think a commodities market will develop in the future.

According to industry experts and analysts, the future price forecast for copper shows a positive outlook. Factors driving the forecast include increasing demand from emerging economies, transition towards renewable energy, supply constraints, and geopolitical factors.

The report covers Copper Usage by Industry and is segmented by End-user Industry (Automotive and Heavy Equipment, Construction, Electrical and Electronics, Industrial, and Other End-user Industries) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecast for the copper market in volume (kilo tons) for all the above segments.

Forecast: Copper Market Size Volume in Germany 2023 - 2027 Discover more data with ReportLinker!

This statistic depicts the average annual prices for copper from 2014 through 2026*. In 2023, the average price for copper stood at 8,490 nominal U.S. dollars per metric ton.

Forecast: Copper Market Size Value in the UK 2022 - 2026 Discover more data with ReportLinker!

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Copper Products Market Size 2025-2029

The copper products market size is forecast to increase by USD 86.4 billion, at a CAGR of 6.7% between 2024 and 2029.

The market is experiencing significant growth, driven by key trends such as the increasing emphasis on copper product recycling and advancements in copper alloys. These factors contribute to the market's expansion, despite fluctuations in copper prices. The use of copper alloys in various industries, including construction, automotive, and electrical, continues to increase due to their superior properties, such as conductivity, durability, and resistance to corrosion. Renewable energy technologies, including wind turbines and solar panels, also heavily rely on copper. Moreover, the recycling of copper products is gaining traction as a sustainable solution to reduce the environmental impact of mining and production. These trends are expected to shape the future of the market, offering opportunities for growth and innovation.

What will be the Size of the Copper Products Market During the Forecast Period?

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The market encompasses a diverse range of applications, including wires and cables for electrification in various sectors, electrical components such as dynamos, transformers, motors, electromagnets, switches, and communication cables. Copper's unique properties as an electricity and heat conductor make it an essential component in residential electrical circuits, as well as In the manufacturing of electronic devices and machinery. The market's growth is driven by increasing demand for electrification and the proliferation of electronic devices.
The circular economy and sustainability efforts have also influenced the copper industry, with recycling and the use of copper alloys like cupronickel and sterling silver gaining importance. Investors and policymakers recognize copper's role as a critical resource for the transition to a low-carbon economy, further fueling market expansion. Overall, the market is expected to continue growing, underpinned by its versatility and indispensable role in numerous industries.

How is this Copper Products Industry segmented and which is the largest segment?

The copper products industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Copper wire
  Copper pipes and tubes
  Copper foil
  Copper sheet
  Others


Application

  Building and construction
  Electrical and electronic products
  Industrial machinery
  Transportation
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  South America

    Brazil


  Middle East and Africa

By Product Insights

The copper wire segment is estimated to witness significant growth during the forecast period.

Copper wire plays a vital role in various sectors, including residential, commercial, and industrial applications. In residential buildings, it ensures the safe and efficient distribution of power for lighting systems and electrical wiring. In commercial settings, copper wire provides electrical connectivity for lighting fixtures, power outlets, HVAC systems, security systems, and communication networks. Industrial applications include powering machinery, motors, and control systems in manufacturing plants, factories, warehouses, and industrial facilities. Copper's advantages include flexibility and ease of installation. It is also a superior conductor of electricity and heat, making it essential in power generation, transmission, and renewable energy sectors, such as wind turbines and solar panels.

Copper's recyclability aligns with sustainability efforts and circular economy initiatives. Copper's applications extend to electrical devices, wires and cables, dynamos, transformers, motors, electromagnets, switches, communication cables, and housing demand projects like hotels and electric vehicles. Copper's thermal and electrical conductivity is crucial for power plants, generators, transmission lines, and infrastructure investment in transportation equipment and household appliances.

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The copper wire segment was valued at USD 129.70 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 69% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in Asia Pacific (APAC) is character

The Chinese copper market expanded markedly to $46.2B in 2024, with an increase of 8.1% against the previous year. In general, the total consumption indicated a slight expansion from 2012 to 2024: its value increased at an average annual rate of +1.9% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -5.0% against 2022 indices.

The low carbon copper industry seeks to increase energy efficiency in processing facilities, employ cleaner mining technologies, and investigate novel approaches to copper production.

During the last quarter of 2024, the copper prices in the USA reached 16341 USD/MT in December. As per the copper price chart, the market in the United States displayed mixed signals, with fluctuating prices influenced by macroeconomic trends. A surge in imports indicated growing industrial requirements, particularly in relation to AI-driven technology, electric vehicle networks, and power infrastructure upgrades.

Explore IMARC’s newly published report, titled “Copper Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of copper pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Learn about the key factors that influence the forecast for copper as a commodity, including demand and supply dynamics, economic and industrial growth, global trade and politics, technological advancements, and financial markets. Discover the positive outlook for copper's future, while keeping in mind the potential uncertainties and the need for monitoring evolving market conditions.

In 2017, approx. X tons of articles of copper were imported into Ireland; going down by -X% against the previous year. In general, articles of copper imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2015, an increase of X% y-o-y. Ireland imports peaked of X tons in 2007; however, from 2008 to 2017, it failed to regain its strength.In value terms, articles of copper imports stood at $X in 2017.

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Copper Cathode Market Size 2024-2028

The copper cathode market size is estimated to increase by USD 8.33 billion and is forecast to grow at a CAGR of 5.95% between 2023 and 2028.

Several key factors are driving the market's growth. First, demand for copper cathode continues to rise due to the widespread use of copper pipes and tubes in construction, electronics, and the automotive sectors. This demand is further supported by rapid industrialization and urbanization, particularly in emerging markets, which increases the need for copper in infrastructure and manufacturing.
Additionally, stricter environmental regulations are encouraging the use of recycled metals, leading to a greater focus on recycling and sustainability within industries such as copper. These factors collectively support the market's global expansion, underscoring copper's essential role in various industrial applications.

What will be the Size of the Copper Cathode Market During the Forecast Period?

Market Forecast 2024-2028

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How is the Copper Cathode Market Segmented?

The copper cathode market forecast report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

Application Outlook 

  Consumer durable goods
  Building and construction
  Power generation
  Telecommunication
  Others


Technology Outlook 

  Electro-refining
  Smelting


Geography Outlook 

  North America

    The U.S.
    Canada





  Europe

    The U.K.
    Germany
    France
    Rest of Europe





  APAC

    China
    India


  South America

    Argentina
    Brazil
    Chile


  Middle East & Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East & Africa

Application Analysis

The consumer durable goods segment is expected to experience notable growth throughout the forecast period. Copper products are being increasingly adopted in the manufacturing of various consumer durable goods due to their superior conductivity and corrosion resistance. In this segment, copper is primarily used in producing electrical and electronic appliances, including refrigerators, air conditioners, televisions, and washing machines.

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The consumer durable goods segment was the largest in 2018, valued at USD 6.52 billion. In the consumer electronics sector, copper is primarily used in the production of refrigerators. Due to its exceptional heat conductivity, copper is commonly used in manufacturing refrigerator coils, which effectively transfer heat from inside to outside, ensuring efficient cooling. This high thermal conductivity helps refrigerators operate optimally, preserving perishable foods for longer. These factors are expected to drive the growth of this segment, contributing to the expansion of the copper cathode market during the forecast period.

Technology Analysis

The segment is divided into electro-refining and smelting based on technology. Electro-refining is a purification process that uses electrolysis to produce high-quality copper with 99.99% purity. Copper, a critical component in the electronics industry, is used in applications like printed circuit boards, wires, and connectors. The main advantage of electro-refining is its ability to remove impurities and produce cathodes that meet the electronics industry's strict quality standards. Copper sulfate and metal powders also play key roles in various applications within this sector. These benefits are expected to drive the growth of this segment and support copper cathode market expansion during the forecast period.

Regional Analysis

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APAC is projected to account for 63% of market growth by 2028. According to Technavio's analysts, several regional trends, drivers, and challenges will shape the market during this period. Key factors contributing to APAC's market growth include rapid industrialization, population growth, and expanding infrastructure development. Additionally, the expansion of manufacturing industries in countries like China, Japan, South Korea, and India has led to increased production of goods and commodities, driving demand. Increased construction activity across residential, commercial, and industrial sectors further supports market growth. These factors are expected to propel the copper cathode market in the region during the forecast period.

What are the Copper Cathode Market Dynamics Shaping Growth?

Copper cathodes are essential in producing various copper alloys, including brass, bronze, and alloy steel. These cathodes are primarily used in manufacturing copper tubes, sheet products, and rods. The electrolytic refining process, which extracts im

Forecast: Copper Wire and Cable Sales in the US 2024 - 2028 Discover more data with ReportLinker!

In 2021, the copper price is expected to grow, driven by an increase in demand over supply. Heightened demand for copper is spurred on by a robust pace in construction and rapid development of the electric car industry in the Asia Pacific, the U.S. and the EU. At the same time, copper output still hasn’t fully bounced back after the shock of Covid-19.

Learn about the projected growth of the copper market in Africa over the next decade, driven by rising demand and expected to reach 3M tons in volume and $25.7B in value by 2035.

Forecast: Copper Market Size Volume in Denmark 2023 - 2027 Discover more data with ReportLinker!

The Venezuelan copper market fell to $515M in 2024, declining by -8.5% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $661M in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

In 2022, the global copper market increased by 2.1% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Global consumption peaked in 2022 and is expected to retain growth in the near future.