U.S. Copper And Copper Alloy Products Market. Analysis And Forecast to 2025
Update: COVID-19 Impact
U.S. Copper and Copper Alloys Products Market to Reach $20B Tonnes by 2025
IndexBox has just published a new report "U.S. Copper And Copper Alloy Products Market. Analysis And Forecast to 2025". Here is a summary of the report’s key findings.
U.S. Copper and Copper Alloys Products Market Is Expected to Reach $X Tonnes by 2025
In value terms, the US copper and copper alloy product market value decreased by X% to $X in 2016. From 2007 to 2016, the market was subject to significant fluctuations against changes in prices.
Copper and copper products are used in construction, transportation equipment, industrial machinery and equipment, electric and electronic products, consumer and general products. The drop in copper prices rendered copper extraction projects unprofitable, which led to a gradual increase in the gap between supply and demand. Nevertheless, it is forecast that, in the short term, copper prices will go up, which stimulates the revival of projects for raw material extraction, which, in turn, will increase its availability in the international market. At the same time, GDP growth supports business activity, which will stimulate consumption growth by the major downstream industries.
Construction market is the main copper consuming industry, growing in recent years with high rates amid favorable economic conditions. In the medium term, a slowdown in the growth of the construction industry is projected, which is associated with an increase in mortgage interest rates and gradual saturation of demand. Nevertheless, it is forecast that, as the result of the growth in supply and demand from downstream industries, the consumption of copper and copper alloys products will see a positive trend and will grow at a rate of + X% per year in the next nine years, which will bring the market to $ X by 2025 (IndexBox estimates).
US Copper and Copper Alloy Products Output Has Fallen in Last Years due to Low Copper Prices and Decreasing Exports Value
In 2016, the value of shipments in the US copper and copper alloy product industry decreased for the second consecutive year to $ X, falling by -X% against the previous year production level. From 2008 to 2016, U.S. copper and copper alloy products manufacturing illustrated mixed pattern with significant fluctuations due to changes in producer and international prices for copper and copper alloy products. In 2015-2016, the domestic output of copper and copper alloy products in the U.S. declined due to low copper prices and a decline in exports value.
Сopper and copper-base alloy rod, bar, and shapes represented roughly X% of US copper and copper alloy products production. It was followed by copper wire and cable, including apparatus wire, cord, and flexible cord sets, made in copper wire drawing plants (X%), copper and copper-base alloy sheet, strip, and plate (X%), copper and copper-base alloy wire, strand, and cable, made in plants that draw wire (X%) and copper and copper-base alloy pipe and tube (X%). Over 2008-2016, the production of the main types of copper and copper alloy products was reduced against the backdrop of a general reduction in the prices for copper and copper products. In the last nine years, the largest reduction was seen in the production of copper and copper-base alloy rod, bar, and shapes (-X% per year) and copper and copper-base alloy pipe and tube (-X% per year). The output of the other leading categories also showed downward trend from 2008 to 2016.
Mexico and Canada Dominated Among the Main Export Destinations of the U.S.
The U.S. exported $X of copper and copper alloy products in 2016, X% less from the previous year level. In value terms, exports accounted for X% of U.S. copper and copper alloy products output. In physical terms, imports marginally declined over the last years to X tonnes.
In 2016, the main destinations of U.S. copper and copper alloy products exports were Mexico (X%, based on tonnes) and Canada (X%). They were followed by China, amounted to X% of total imports, and then Korea, Saudi Arabia, Hong Kong and Germany with a negligible share of total imports. The share exported to Mexico increased (+X percentage points), while the share exported to Canada demonstrated a negative trend (-X percentage points). The shares of the other countries remained relatively stable throughout the analysed period.
Canada and Germany Improved Their Position in the Total U.S. Copper and Copper Products Imports, while the Share of Mexico Decreased
The value of total U.S. copper and copper alloy products imports totalled $X in 2016. There was a noticeable decline from 2008 to 2009 to the lowest level of imports, followed by recovery over the next two years. However, imports failed to reach the pre-crisis level. From 2012 it began to decline again though 2016. In 2016, the share of imports on the U.S. copper and copper alloy products market, in value terms, was X%. From 2007 to 2016, the share of imports in the U.S. consumption in value terms was consistently low and fluctuated at the level of X% of the copper and copper alloy products market. In physical terms, imports stood at X tonnes, remaining relatively stable over the last year.
Canada (X%, based on tonnes), Mexico (X%) and Germany (X%) were the main suppliers of copper and copper alloy products into the U.S., with a combined share of X% of total U.S. imports in 2016. The share of Canada showed only modest annual growth, that of Germany (+X% per year) had a noticeable positive dynamics, while the share of Mexico (-X. % per year) declined from 2007 to 2016. Canada (+X percentage points) and Germany (+X percentage points) significantly strengthened their position in the U.S. imports from 2007 to 2016. By contrast, Mexico saw its share reduced by –X percentage points.
Do you want to know more about the U.S. copper and copper alloy market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- copper and copper alloy market sharep
- copper and copper alloy prices
- copper and copper alloy industry
- copper and copper alloy sales
- copper and copper alloy import
- copper and copper alloy export
- copper and copper alloy market forecast
- copper and copper alloy price forecast
- key copper and copper alloy producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the market for copper and copper alloy product in the U.S.. 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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