Global Copper Mining Market Industry Report: Analysis and Forecast 2022-2027
Copper Mining Industry Report by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices
The global copper mining market is projected to grow at a CAGR of nearly 3.5% in the forecast period of 2022-2027. The copper prices in 2021-22 are anticipated to affected by the recent events and increasing trend in the freight rates. The key demand indicator is the highest category spender by region—Asia Pacific.
Copper Mining: Industry Definition and Segmentation
Copper (Cu) is a metal obtained by the mining and extraction of an ore, which is in the form of a compound ore like copper sulphides or copper oxide ore. After extraction, this ore undergoes various separation stages to produce pure copper. The extraction of copper ore from the earth’s crust is called copper mining.
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The copper mining industry report comprises of segments based on:
- End-use sectors – construction industry, infrastructure, transportation, data transmission lines, household products, power sector, and telecommunication instruments. Copper finds wide utilisation in both residential and industrial construction.
- Region – North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Snapshot of the Report
The regional markets for categories/parent industry can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Category Drivers
The increasing demand from the infrastructure sector is the major factor driving the growth of the market. Massive infrastructure developments are planned in the Asia Pacific region, for which copper is an essential material. This is expected to augment the copper mining market. In countries like China, there is a significant demand for copper. This is due to the increase in new constructions and the prominent presence of many electronic manufacturing companies. The extensive use of copper in sectors like transportation, data transmission lines, household products, and the power sector, among others, is expected to continue to support the industry growth in the coming years.
Category Insights by Region
The Asia Pacific held the major share in the global copper mining market. This is mainly due to the presence of emerging and developing industrial economies such as China and India. Copper is an essential metal used in industries. Thus, due to the rising industrialization in the Asia Pacific region, this region is leading the market in terms of consumption. In terms of production, Latin America holds the major share, owing to the presence of some of the world’s largest copper mining ores. North America also holds a prominent share in the copper mining category, but over the years mining has witnessed a reduction in this region.
Best procurement practices
The copper mining industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major consumers of PVC across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
The construction segment holds the leading share in the global copper consumption, owing to the rise in construction projects across the globe and, especially, in the Asia Pacific region. In terms of the type of mining, the open-pit mining is the dominant method as compared to underground method, owing to its advantages like flexible operation techniques, relatively low investment costs, and optimised production levels.
Key supplier profiles included in the Global Copper Mining Industry Report
The major players in the market are Glencore plc, BHP Group Ltd, Rio Tinto Group, KGHM Polska Miedź S.A, and Anglo-American PLC are the key suppliers of copper. The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments of the suppliers.
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