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World - Copper - Market Analysis, Forecast, Size, Trends And Insights
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Article Publishing Date: Jun 16, 2021

Global Copper Market to Face Deficit Owing to Skyrocketing Demand

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IndexBox has just published a new report: 'World - Copper - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

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.

Key Trends and Insights

This year, the global copper market is forecasted to face a deficit, leading to higher prices in so much as the global mining decreased in 2020 and hasn’t fully recovered to previous production levels. In early June 2021, the price for copper on the London Metal Exchange (LME) stood at $9,990 per ton, fluctuating near one of the highest points in the past decade. Demand for copper strengthened thanks to a construction boom and rapid development within the electric car industry in Asia, the U.S. and the EU.

In 2020 global output for copper dropped by 2% y-o-y as a result of mines shutting down while implementing quarantine measures. Throughout the same period, demand for the metal remained consistently high and global production of refined copper grew by 2% y-o-y.

The sharp increase in copper prices could potentially lead to consumers replacing it, when possible, with a cheaper aluminum analog. Aluminum components may become an alternative to copper in wind turbines, power cables and charging stations for electric cars, which could lead to a decline in copper consumption.

In the next decade, the global copper market is forecasted to reach 25 million tons thanks to the increased demand in the electric car industry from 400k tons of copper in 2020 to 3.2 million tons in 2030.

Copper Mining by Country

After two years of growth, production of copper decreased by -2.3% to 20M tonnes in 2020. The total output volume increased at an average annual rate of +2.3% from 2012 to 2020. In value terms, copper production dropped to $128.4B in 2020 estimated in export prices.

Chile (5.7M tonnes) remains the largest copper producing country worldwide, comprising approx. 28% of total volume. Moreover, copper production in Chile exceeded the figures recorded by the second-largest producer, Peru (2.2M tonnes), threefold. China (1.7M tonnes) ranked third in terms of total production with an 8.3% share.

In Chile, copper production remained relatively stable over the period from 2012-2020. In the other countries, the average annual rates were as follows: Peru (+6.8% per year) and China (+0.8% per year).

Global Copper Exports

In 2020, approx. 1.7M tonnes of copper were exported worldwide; picking up by 14% on the previous year. Overall, total exports indicated a buoyant expansion from 2012 to 2020: its volume increased at an average annual rate of +5.0% over the last eight years. In value terms, copper exports surged to $11B (IndexBox estimates) in 2020. 

Zambia was the main exporting country with an export of around 675K tonnes, which recorded 40% of total exports. Chile (283K tonnes) held the second position in the ranking, distantly followed by Bulgaria (120K tonnes), Democratic Republic of the Congo (85K tonnes) and Belgium (76K tonnes). All these countries together held approx. 33% share of total exports. South Africa (63K tonnes), Namibia (61K tonnes), Spain (56K tonnes), Slovakia (55K tonnes), Pakistan (38K tonnes) and the Philippines (34K tonnes) followed a long way behind the leaders.

In value terms, Zambia ($4.2B) remains the largest copper supplier worldwide, comprising 38% of global exports. The second position in the ranking was occupied by Chile ($1.7B), with a 16% share of global exports. It was followed by Bulgaria, with a 9.5% share.

In 2020, the average copper export price amounted to $6,523 per tonne, rising by 3.1% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Namibia ($10,093 per tonne), while Spain ($5,607 per tonne) was amongst the lowest.

Source: IndexBox Platform

Product coverage:

This report provides an in-depth analysis of the global copper market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.



Data coverage:
• Global market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Global production, split by region and country
• Global trade (exports and imports)
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, By Country, 2018–2020
Table 5:
Production, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Physical Terms, By Country, 2007–2020
Table 7:
Imports, In Value Terms, By Country, 2007–2020
Table 8:
Import Prices, By Country Of Destination, 2007–2020
Table 9:
Exports, In Physical Terms, By Country, 2007–2020
Table 10:
Exports, In Value Terms, By Country, 2007–2020
Table 11:
Export Prices, By Country Of Origin, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, By Country, 2020
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2020
Figure 17:
Production, In Value Terms, 2007–2020
Figure 18:
Production, By Country, 2020
Figure 19:
Production, In Physical Terms, By Country, 2007–2020
Figure 20:
Imports, In Physical Terms, 2007–2020
Figure 21:
Imports, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, By Country, 2020
Figure 23:
Imports, In Physical Terms, By Country, 2007–2020
Figure 24:
Imports, In Value Terms, By Country, 2007–2020
Figure 25:
Import Prices, By Country, 2007–2020
Figure 26:
Exports, In Physical Terms, 2007–2020
Figure 27:
Exports, In Value Terms, 2007–2020
Figure 28:
Exports, In Physical Terms, By Country, 2020
Figure 29:
Exports, In Physical Terms, By Country, 2007–2020
Figure 30:
Exports, In Value Terms, By Country, 2007–2020
Figure 31:
Export Prices, 2007–2020

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