In 2023, the apparent consumption of copper in the United States amounted to an estimated 1.8 million metric tons of copper, while the reported consumption of refined copper stood at approximately 1.7 million metric tons. Copper has a variety of applications in the United States, including use in building construction, electronic components, and transportation equipment.

In 2023, global refined copper usage stood at nearly 26.55 million metric tons. This was the record high reported since 2010, and an increase of roughly three percent from the previous year. From 2010 to 2023, refinery copper usage increased by seven million metric tons. Most of the world's copper is used in electrical applications, but also in architecture, automotive, electrical, tube, pipe and fittings, fuel gas, industrial, marine, machined products, and telecommunications.

The demand for the base metal copper amounted to a global total of 23.5 million metric tons in 2020, a slight decrease from 2019. Global copper consumption is estimated to have increased by four percent in 2021 compared to 2020.

The world’s largest consumer of refined copper in 2023 was China. That year, China accounted for ** percent of the total global copper consumption volume. What is copper used for? Copper is a versatile base metal that is vital for different sectors. Copper is commonly used for making electrical wiring. It also used in building construction, producing industrial machinery, transportation vehicles, architectural applications, and fuel gas. It is an important part of connectors, brakes, and wiring. Production and consumption of refined copper In 2020, global refined copper consumption reached an estimated **** million metric tons. While China is the largest consumer of refined copper, it is also the largest refined copper producing country. In 2020 China was responsible for nearly ** percent share of the total global production of refined copper, or over *** million metric tons. Following China was Chile, which produced *** million metric tons of refined copper. In 2020, there was about ** million metric tons of copper produced in mines worldwide, while global refined copper production amounted to over **** million metric tons.

In 2021, the average annual market price of copper peaked at ***** U.S. dollars per metric ton, before slightly decreasing in 2022 and 2023, when its average price was ***** U.S. dollars. Copper consumption Copper is a base metal that has a wide variety of uses, which makes it an important commodity. Equipment production generally accounts on average for one third of copper consumption, making it the largest global end use of copper. The country with the highest demand for copper as of 2022 was China, with a demand amounting to nearly ************ metric tons of copper. Following China was Europe, with a total demand of just over *********** metric tons. Copper market prices The London Metal Exchange and Comex both provide market prices for copper. In 2023, the copper price for the London Metal Exchange was about *** U.S. cents per pound. The average Comex price in 2022 was estimated to be about *** U.S. cents per pound.

The total worldwide copper mine production amounted to an estimated ** million metric tons in 2024. Global copper production has seen steady growth over the past decade, rising from ** million metric tons in 2010. Copper: an essential metal As an excellent conductor of electricity, copper finds its way into a wide variety of end uses ranging from construction to electronic equipment. Between 2010 and 2023, global consumption of refined copper experienced near-continuous growth. More than ** million metric tons of refined copper was consumed in 2023. Chile: the global leader in copper mining Thanks to its rich mineral deposits, four of the world’s leading copper mines in terms of reserve volume are located in Chile. With a capacity of over **** million metric tons in 2024, Chile’s Escondida mine is the world’s largest copper mine based on capacity. Escondida also ranks as the number one copper mine based on reserves and production output, thus giving it the distinction of being the leading copper mine in the world overall. Escondida and Northern Chile’s Colahuasi mine are also among the world’s leading copper mines based on production. Peru, Chile’s neighbor to the north, also has several of the world’s leading copper mines.

Snapshot img

Copper Market Size 2024-2028

The copper market size is forecast to increase by USD 70 billion at a CAGR of 6.78% between 2023 and 2028.

The market is experiencing significant growth, driven by the high demand for copper In the Asia-Pacific region, particularly in China, due to its extensive use in electrical wiring and construction industries. Technological innovations, such as the increasing adoption of electric vehicles and renewable energy sources, are further fueling the demand for copper. However, the market is also facing challenges from the volatility in copper prices, which can impact the profitability of copper producers and consumers alike. Copper prices have been influenced by various factors, including supply and demand imbalances, geopolitical tensions, and economic conditions. To mitigate these challenges, market participants are focusing on improving operational efficiency, exploring new sources of supply, and implementing price risk management strategies.

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

Request Free Sample

Copper, the reddish-brown metal known for its excellent conductivity, plays a crucial role in various industries including electrical wiring, transportation, plumbing, telecommunications, and network layouts. Its high conductivity makes it an ideal choice for transmitting electricity and data. In electrical applications, copper is used in transformers, printed circuit boards, and In the manufacturing sectors for machinery and wind turbines. The metal's corrosion resistance, malleability, and antimicrobial properties make it suitable for use in plumbing systems and infrastructure projects.
Moreover, the increasing adoption of electric vehicles, IoT, and electric grids further boosts the demand for copper in power generation, transmission, and electronic devices. Carbon emission regulations also contribute to the growth of the market, as the metal is a key component in low-carbon technologies such as solar panels. Primary copper, which is extracted from ores, and secondary copper, which is recycled, are the two main types of copper used in various industries. Overall, the versatility and unique properties of copper make it an essential metal for numerous applications.

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

The copper industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Electrical and electronics
  Construction
  Telecommunication
  Transportation
  Others


Type

  Primary
  Secondary


Geography

  APAC

    China
    Japan
    South Korea


  Europe

    Germany
    Spain


  North America

    US
    Canada


  Middle East and Africa

    South Africa


  South America

    Brazil

By Application Insights

The electrical and electronics segment is estimated to witness significant growth during the forecast period.Copper, a redish-brown metal known for its exceptional conductivity, plays a pivotal role in various sectors, including Electrical Wiring, Transportation, Plumbing, Telecommunications, and Infrastructure projects. Its high conductivity makes it an ideal choice for network layouts in power generation applications such as generators, transformers, and transmission lines. Copper's corrosion resistance, malleability, and antimicrobial properties contribute to its extensive use in electrical wiring systems, printed circuit boards, and roofing materials. In the manufacturing sectors, copper is used in machinery, wind turbines, and solar panels due to its superior electrical conductivity. The transportation sector leverages copper in electric vehicles and IoT devices for their electrical systems.

Moreover, power generation and transmission are major consumers of primary copper from mining copper ores and concentrates through smelting and refining processes to produce pure copper cathodes and refined copper products. Carbon emission regulations drive the demand for copper in power generation and transmission, as it is a key component in reducing carbon emissions. Copper's versatility extends to various applications including telecommunications, where it is used In the production of cables and connectors, and in plumbing systems for its resistance to corrosion and durability. Overall, copper's unique properties make it an indispensable element In the modern world, from power generation and transmission to electronic devices and infrastructure projects.

Get a glance at the Copper Industry report of share of various segments Request Free Sample

The electrical and electronics segment was valued at USD 73.50 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to

In 2023, the total global smelter production of copper stood at approximately 26.5 million metric tons. This was the record high reported since the turn of the century, and an increase of 4.9 percent from the previous year. From 2000 to 2023, refinery production of copper increased by roughly 12 million metric tons.

Copper is widely used in drinking water premise plumbing system materials. In buildings such as hospitals, large and complicated plumbing networks make it difficult to maintain good water quality. Sustaining safe disinfectant residuals throughout a building to protect against waterborne pathogens such as Legionella is particularly challenging since copper and other reactive distribution system materials can exert considerable demands. The objective of this work was to evaluate the impact of pH and orthophosphate on the consumption of free chlorine associated with corroding copper pipes over time. A copper test-loop pilot system was used to control test conditions and systematically meet the study objectives. Chlorine consumption trends attributed to abiotic reactions with copper over time were different for each pH condition tested, and the total amount of chlorine consumed over the test runs increased with increasing pH. Orthophosphate eliminated chlorine consumption trends with elapsed time (i.e., chlorine demand was consistent across entire test runs). Orthophosphate also greatly reduced the total amount of chlorine consumed over the test runs. Interestingly, the total amount of chlorine consumed and the consumption rate were not pH dependent when orthophosphate was present. The findings reflect the complex and competing reactions at the copper pipe wall including corrosion, oxidation of Cu(I) minerals and ions, and possible oxidation of Cu(II) minerals, and the change in chlorine species all as a function of pH. The work has practical applications for maintaining chlorine residuals in premise plumbing drinking water systems including large buildings such as hospitals. This dataset is associated with the following publication: Lytle , D., and J. Liggett. Impact of Water Quality on Chlorine Demand of Corroding Copper. WATER RESEARCH. Elsevier Science Ltd, New York, NY, USA, 92: 11-21, (2016).

Snapshot img

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?

Request Free Sample

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.

Get a glance at the Copper Products Industry report of share of various segments Request Free Sample

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.

For more insights on the market share of various regions, Request Free Sample

The market in Asia Pacific (APAC) is character

The U.S. threaded copper articles market expanded significantly to $402M in 2024, growing by 9.1% against the previous year. Overall, the total consumption indicated a notable expansion from 2012 to 2024: its value increased at an average annual rate of +2.9% 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 increased by +60.1% against 2018 indices.

For the fourth year in a row, the U.S. copper screw market recorded growth in sales value, which increased by 12% to $726M in 2024. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2024: its value increased at an average annual rate of +5.9% 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 increased by +99.3% against 2012 indices.

The U.S. copper tube and pipe market expanded markedly to $2.9B in 2024, picking up by 7.9% against the previous year. Overall, consumption, however, recorded a mild slump. Over the period under review, the market attained the peak level at $3.3B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

The metal wholesaling industry has enjoyed gradual revenue growth over the past five years. Increasing demand from construction and manufacturing markets has played a substantial role. Consumption of metals like steel, copper and aluminum has consistently supported the upward trend. Enhancements in supply chain optimizations, such as real-time tracking systems and automation in warehousing, improved delivery efficiency. Radio-frequency identification (RFID) technology advanced inventory management by reducing errors and improving stock accuracy. Companies achieved cost efficiencies by implementing strategic purchasing practices, such as bulk buying and just-in-time inventory. The 2018 tariffs under Section 232 imposed a 25% tariff on steel imports and a 10% tariff on aluminum imports, prompting a shift toward domestic sourcing where possible. The second Trump administration also introduced a 145% tariff on Chinese imports in 2025, affecting various metals. Fluctuating raw material prices required adaptable procurement strategies. The industry adapted to meet these changes, ensuring steady growth amid external challenges. A deeper look into the past five years reveals that effective cost management was critical for sustaining growth. Companies reduced purchase and depreciation fees through optimized asset utilization and smart procurement solutions. The 2018 and 2025 tariffs increased import costs but motivated companies to enhance sourcing strategies by focusing more on domestic suppliers. Key downstream markets, such as automotive and infrastructure, maintained stable demand and sustained revenue flow. Technological investments in logistics, like predictive analytics and optimized route planning, reduce delivery times and enhance efficiency. Compliance with environmental regulations, like the Clean Air Act, necessitated operational adjustments in waste management and emissions control. Commodity pricing strategies were adjusted to reflect real-time shifts in market conditions. Financial strategies focused on maintaining liquidity and managing debts efficiently. These actions allowed the industry to retain resilience and achieve a consistent upward trajectory. Metal Wholesaling industry revenue has been inching upward at a CAGR of 0.4% over the past five years and is expected to total $286.2 billion in 2025, when revenue will fall by an estimated 2.0%. Profit has risen because of a slight drop in purchase and depreciation fees. Over the next five years, technological innovation will significantly shape industry dynamics. Advanced inventory systems leveraging AI will boost stock forecasting accuracy, minimizing overstock and stockouts. Predictive analytics will streamline supply chain operations, enhancing response to demand fluctuations. New environmental regulations, such as stricter emissions limits under potential amendments to the Clean Air Act, could impact processing practices. Current tariffs, including the 25% on all steel and aluminum imports and 20% on Chinese imports, will continue to influence sourcing strategies and cost structures. Increased interest in electric vehicles and renewable energy will drive demand for specialty metals, offering new growth avenues. Companies will focus on maintaining cost efficiencies through energy-efficient processing technologies. Infrastructure investments by the government will continue to push for metals like steel and aluminum. Fluctuating prices for raw materials like iron ore will necessitate agile sourcing and procurement strategies. The industry will pursue sustainable practices to align with international environmental standards. Navigating these changes will be essential for maintaining a competitive edge. Metal Wholesaling industry revenue is expected to inch upward at a CAGR of 0.2% to $288.9 billion over the five years to 2030.

Snapshot img

Copper Sulfate Market Size 2024-2028

The copper sulfate market size is forecast to increase by USD 468.4 million at a CAGR of 6.78% between 2023 and 2028.

The market is driven by the expanding copper industry and the progression of synthetic processes and recycling techniques for copper-bearing materials. These factors contribute significantly to market growth. However, the market faces challenges from the increasing availability of copper sulfate substitutes, which may impact the market's competitiveness. The report provides a comprehensive analysis of these trends and challenges, offering valuable insights for stakeholders. Copper sulfate is a crucial industrial chemical used in various applications, including water treatment and agriculture. Its demand is influenced by the copper market's growth, as copper is a key component in its production. In topical treatments, Copper Sulfate's antimicrobial properties make it an effective ingredient in wound care products. The report also highlights the emergence of synthetic processes and recycling methods, which offer sustainable alternatives to traditional copper sulfate production. Despite these growth opportunities, the market is confronted with the increasing availability of substitutes, which may impact its competitiveness. Overall, the market is expected to experience moderate growth, with key applications continuing to drive demand.

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

Request Free Sample

The market, a significant segment of the broader Copper market, experiences continuous growth due to its diverse applications across various industries. Copper Sulfate, also known as Copper Sulphate, plays a crucial role in water treatment, particularly in the agricultural sector. In water treatment applications, Copper Sulfate acts as an algaecide and bacteriostat, preventing the growth of unwanted organisms in water supplies. Beyond water treatment, Copper Sulfate finds extensive use in livestock and animal nutrition. As an essential mineral, Copper Sulfate aids in the production of collagen, melanin, and elastin, contributing to the overall health and wellbeing of livestock.
In addition, the global population's increasing demand for food products further fuels the market's growth. Copper Sulfate acts as an essential ingredient in various food products, including animal feed additives and electrolytes. In the mining industry, Copper Sulfate is used in the refining process, while in electroplating, it serves as a crucial component in the production of decorative and functional coatings. The rising copper production, driven by the mining industry, is a significant factor contributing to the market's growth. Copper Sulfate is a byproduct of copper mining and smelting, making it an economically viable and sustainable choice for various industries.

How is this market segmented and which is the largest segment?

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

Application

  Agriculture
  Chemical
  Others


Type

  Pentahydrate
  Anhydrous
  Others


Geography

  APAC

    China


  North America

    Canada
    US


  Europe

    UK


  South America



  Middle East and Africa

By Application Insights

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

The market holds significance in the agricultural sector due to its diverse applications that enhance crop production and protection. Copper sulfate functions as an essential fungicide, controlling fungal infections in crops such as grapes, melons, and berries. It effectively prevents diseases like downy mildew, leaf spots, and blights, which can negatively impact yield and quality. In the water management sector, copper sulfate is crucial for controlling unwanted aquatic plants and algae in irrigation water bodies, ensuring water quality and availability for agricultural purposes. Furthermore, copper sulfate acts as a pesticide, shielding crops from various pests, thereby increasing productivity. The global copper market's rising production influences the market's growth. Copper sulfate's demand remains consistent due to its indispensable role in agriculture.

Get a glance at the market report of share of various segments Request Free Sample

The agriculture segment was valued at USD 797.50 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 48% 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.

For more insights on the market share of va

In 2024, the U.S. copper matte market decreased by -6.3% to $78M, falling for the second consecutive year after four years of growth. In general, the total consumption indicated a mild expansion from 2012 to 2024: its value increased at an average annual rate of +1.8% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -21.6% against 2022 indices.

In 2024, the U.S. copper powder market decreased by -25% to $223M, falling for the third year in a row after two years of growth. Overall, consumption recorded a abrupt decrease. Over the period under review, the market attained the peak level at $918M in 2013; however, from 2014 to 2024, consumption failed to regain momentum.

The global copper abietate market is experiencing robust growth, driven by increasing demand for effective and environmentally friendly fungicides and bactericides in agriculture. The market size in 2025 is estimated at $150 million, exhibiting a Compound Annual Growth Rate (CAGR) of 6% from 2025 to 2033. This growth is fueled by several factors, including the rising prevalence of plant diseases, stringent regulations on chemical pesticides, and the growing adoption of sustainable agricultural practices. The increasing awareness among farmers regarding the benefits of copper abietate, such as its broad-spectrum efficacy and low toxicity compared to some conventional alternatives, further contributes to market expansion. The segmentation of the market reveals a significant demand for both inorganic and organic copper abietate formulations, with applications spanning grains, fruits, vegetables, and other crops. Key players like ISAGRO, IQV Agro, and Nufarm are actively shaping the market landscape through product innovation and strategic partnerships. Geographic expansion, particularly in developing economies with large agricultural sectors, presents significant opportunities for future growth. The market's expansion is further propelled by advancements in formulation technologies leading to improved efficacy and application methods. While regulatory hurdles and price fluctuations of raw materials pose some challenges, the overall market outlook remains positive. The increasing focus on food security and the need for sustainable crop protection solutions will continue to drive demand for copper abietate in the coming years. The Asia-Pacific region, with its substantial agricultural production and growing awareness of sustainable agriculture, is projected to witness significant growth in copper abietate consumption. North America and Europe also contribute substantially to the market, propelled by stringent regulatory standards and the adoption of environmentally conscious farming practices. The continued research and development efforts focused on enhancing the effectiveness and sustainability of copper abietate are expected to significantly impact the market's trajectory in the long term.

North America saw notable developments in the copper wire market during Q1 2025, largely driven by geopolitical uncertainty, shifting demand patterns, and evolving supply chain conditions. The USA, being a major importer and consumer, played a central role in shaping regional dynamics. In the U.S., copper wire prices rose 3.5% quarter-on-quarter, closing Q1 at USD 23,378/mt CFR San Diego. Price momentum remained consistently upward throughout the quarter, influenced by policy uncertainty, including the Section 232 investigation into copper imports.

In 2024, after four years of growth, there was decline in the U.S. copper pipe and fitting market, when its value decreased by -0.4% to $5.9B. Over the period under review, the total consumption indicated a slight increase from 2012 to 2024: its value increased at an average annual rate of +1.7% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.