Oxygen Free Copper Bars Market - Forecast(2023 - 2028)

Oxygen Free Copper Bars Market Overview

Global oxygen free copper bars market size is estimated to reach US$5.5 billion by 2027, after growing at a CAGR of 5.6% from 2022-2027. Oxygen free copper bars are high conductive copper alloys which are produced by melting copper in the presence of carbon or carbonaceous gases to reabsorb oxygen. They are of three types namely oxygen-free electronic, oxygen free high conductive and electrolytic tough pitch. The bars due to their rich electrical & mechanical properties have high applicability in electronic, automotive, construction and telecommunications sector, and are majorly used in plasma deposition process for making semiconductors components. Factors like increase in consumption of semiconductors from end users, growing production of electric vehicles, increase in residential construction and high consumption of electric devices like cell-phones are driving the growth of global oxygen free copper bars market. Oxygen free copper bars are majorly used in making particle accelerators components, and the regulations imposed by government organization on such device to reduce radioactive waste can also restrict usage of oxygen free copper bars. This can hamper the growth of global oxygen free copper bars industry.

COVID-19 Impact

The lockdown imposed by countries all across the world had a negative impact on end users of oxygen free copper bars like electronic, automotive and construction. In electronic sector, oxygen free copper bar is used in plasma deposition process for making semiconductor, in automotive sector it used in radiators, e-vehicle batteries, while in residential building it is used in home electric panel. The lack of availability of raw materials and workers, decreased productivity of these sectors. For instance, according to International Organization of Motor Vehicle Manufacturers, in 2020, global automobile production was 77.7 million units showing decrease of 13%. Further, according to Japan’s Ministry of Land, Infrastructure, Transport and Tourism, in March 2020, residential construction decreased to -7.6% compared to 10% increase in 2019. Also, according to World Semiconductor Trade Statistics, in 2020, the first quarter sale of semi-conductor in the U.S decreased by 3.6% compared to the same period in 2019. Such decrease in production and sales in automotive vehicles and semiconductors negatively impacted the usage of oxygen free copper bars in them. This negatively impacted the growth of global oxygen free copper bars industry.

Report Coverage

The report: “Oxygen Free Copper Bars Market Report – Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Oxygen Free Copper Bars Industry

Key Takeaways

• Asia-Pacific dominates the global oxygen free copper bars industry as the region consists of major end users of oxygen free copper bars like automotive and electronic in countries like China which have largest automotive market in world.
• The rapid increase in population has led to increase in demand for residential buildings and apartments, which will create more usage for oxygen free copper bars for power distribution in these residential buildings.
• Growing demand for electric and hybrid vehicles in regions like Europe and North America will create growth opportunities for global oxygen free copper bars industry, as oxygen free copper bars are majorly used in electric car batteries.

Figure: Asia-Pacific Oxygen Free Copper Bars Market Revenue, 2021-2027 (US$ Billion)

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Oxygen Free Copper Bars Market Segment Analysis – By Type

Electrolytic tough pitch held a significant share in global oxygen free copper bars market in 2021, with a share of over 29%. Electrolytic tough pitch due to improved annealability and electrical conductivity are used in electrical applications such as power transmission and power distribution in sectors like automotive and construction. The rapid development in these sectors has led to increase in their productivity, which has positively impacted usage of electrolytic tough pitch copper bars. For instance, according European Automobile Manufacturing Association, over the first 10 months of 2021, new car registrations in the EU were up 2.2% totalling around 8.2 million units, compared to 2020. Further, according to US Census Bureau, in May 2021, construction of new houses stood at 1.54 million units compared to 1.04 million built in 2019 same month. Electrolytic tough pitch is used in semiconductor and transistors components of cars, while as busbar it is used for high current power distribution in houses. The increase in the productivity in automotive and construction sector will lead to more usage of electrolytic tough pitch copper bars for electrical application, which will boost growth of global oxygen free copper bars industry.

Oxygen Free Copper Bars Market Segment Analysis – By End User

Electronic sector held a significant share in global oxygen free copper bars market in 2021, with a share of over 24%. In electronic sector, oxygen free copper bars such as electrolytic tough pitch are used in making semiconductor components as they exhibit good electrical conductivity, mechanical properties and have low oxygen content which makes them to conduct large number of electric currents easily. The increase in usage of semiconductor has positively impacted the demand for oxygen free copper bars. For instance, according to World Semiconductor Trade Statistics, the global sale of the semiconductor industry in 2020 stood at US$ 439 billion dollars showing a 6.5% increase as compared to the 2019 i.e., US$ 412.3 billion. The increase in consumption of semi-conductors will lead to more usage of oxygen free copper bars for semiconductor manufacturing. This will boost the growth of global oxygen free copper bars industry.

Oxygen Free Copper Bars Market Segment Analysis – By Geography

Asia-Pacific held the largest share in global oxygen free copper bars market in 2021, with a share of over 34%. The region consists of major end users of fluorinated fluids like automotive and electronics in major countries like China, India, Thailand and Indonesia. The rapid economic development has increased the rate of industrialization in these countries, thereby increasing the industrial productivity of these sectors. For instance, according to International Organization of Motor Vehicles Manufacturer, in 2021, Asia held 50% share of global automobile production volume, with China producing 26 million units, India 4.3 million units, Thailand 1.6 million units and Indonesia 1.12 million units. Further, according to National Bureau of Statistics, in 2021, China’s semiconductor production output surged 33% i.e., double the growth rate of 16% in 2020. Oxygen free copper bars are used in automotive radiators, transistors and rectifiers, and they are used to make semiconductor components through plasma deposition process. The increase in productivity of automotive & electronics sector will lead to more usage of oxygen free copper bars in them, which will positively impact the growth of global oxygen free copper bars industry.

Oxygen Free Copper Bars Market Drivers

Growing demand for E-vehicles

Semiconductor forms the heartbeat of electric vehicles as they determine the whole performance of electric system in vehicle and are necessary for batteries. Oxygen free copper bars are rich in chemical purity and electrical conductivity due to which they are used in plasma deposition process for making components of semiconductor. The growing technological advancements and high demand for pollution free vehicles has increased the consumption of electric vehicles. For instance, according to European Environment Agency, in 2020, electric car registrations in Europe for the year was 1,325,000 units compared to 550,000 units in 2019. Such increase in the consumption of electric vehicles, will increase the demand of semiconductor in them, resulting an increase in the usage of oxygen free copper bars for semiconductor production. This will boost the growth of global oxygen free copper bars industry.

Growing Residential Construction

Oxygen free copper bars is majorly used in making busbars which as a conductor is used for high current power distribution. Hence, such devices due to their high electric conductivity are majorly used in large residential buildings for power distribution. The growing level of housing projects has positively impacted the demand for busbar. For instance, according to Canada Mortgage and Housing Corporation, in Q4 of 2021, apartment construction was 38,176 units showing an increase of 11% compared to Q4 of 2020. Further, according to Federal Statistical Office, in December 2020, Germany’s residential construction output increased to 9.3% compared to 2020 same month. Such increase in residential constriction will increase demand for busbars to be used in power distribution, which will increase usage of oxygen free copper bars for making busbars. This will positively impact the growth of global oxygen free copper bars industry.

Oxygen Free Copper Bars Market Challenges

Stringent Government Regulation

Oxygen free copper bars due to their rich mechanical and electrical properties are used to make components of particle accelerators machines, which are used in radiation research, semiconductor production, and oil & gas drilling. However, particle accelerators can pose hazards as they emit ionizing radiation while they are operating and can produce radioactive waste. Hence, certain regulations are imposed by governments to reduce radioactive waste production. For instance, US Nuclear Reforms Commission, which regulates nuclear material, including radioactive material created by particle accelerators. Such regulations can restrict particle accelerator usage in commercial applications, which will negatively impact the usage of oxygen free copper bars for making particle accelerator components. This will negatively impact the growth of global oxygen free copper bars industry.

Oxygen Free Copper Bars Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. In global oxygen free copper bars market report, the global oxygen free copper bars top 10 companies are:

1. Mitsubishi Materials Corporation
2. Copper Braid Products
3. Avia Metals
4. Hitachi Metals Neomaterials
5. Citizen Metalloys Limited
6. SAM Dong America
7. KGHM Polska Miedz
8. Zhejiang Libo Holding Group
9. Watteredge
10. Farmer's Copper Ltd

Recent Developments

• In 2021, Adani Enterprise the flagship of Adani Group, entered into copper business by joining Kutch Copper Limited which will undertake activities like manufacturing copper rods.
• In 2020, KPS Capital Partners acquired Hussey Copper which is a leading North American processor and fabricator of copper products and the largest North American manufacturer of copper bus bar.
• In 2020, Siemens acquired C&S Electric which is a major producer of power protection and electric distribution products and the acquisition includes taking over switchgear components and low voltage busbars business of C&S Electric.

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