Oxygen Free Copper Market Size

Oxygen-free Copper Market Size

Oxygen-free Copper Market size was valued at around USD 29.66 billion in 2019 and will exhibit a growth rate of over 5.5% between 2020 to 2026. The rising penetration of electric vehicles is further accelerating demand for oxygen-free copper in the automotive industry.

Oxygen-free copper is a group of highly conductive copper alloys that have been processed electrolytically to minimize oxygen levels to 0.001% or below. It provides superior thermal and electrical conductivity. Furthermore, the product also offers consistency in brazed and welded joints.

High oxygen content in copper wires generates a potential threat of wire breaks during a wire drawing process. Oxygen-free copper provides higher processing properties during manufacturing processes. Therefore, due to these versatile properties, it is widely used in electronic products.
 

The consumer electronics industry was valued at around USD 1 trillion in 2019 and is expected to showcase a growth rate of over 7% from 2020 to 2026. Rising purchasing power and changing lifestyles are further expected to drive the consumer electronics industry. Oxygen-free copper materials are widely used in high-end audio-visual systems. Rapidly growing internet connectivity services in emerging economies along with the adoption of high-end audio devices are supporting the oxygen-free copper market expansion.
 

Growing R&D investments and usage of oxygen-free copper in electric vehicles are expected to drive the market. Several industry participants are engaged in integrating oxygen-free copper in electric and hybrid electric vehicles. Furthermore, advanced certification passed by these materials will also help to expand product demand.
 

For instance, in March 2017, Furukawa Electric Co., Ltd. achieved JIS standard certification for oxygen-free copper used in EVs, PHVs, and submarine optical cables. However, volatility in the prices of copper may hamper the overall oxygen free copper market growth between 2020 to 2026.