Oxygen-free Copper Market Regional Analysis:
Asia Pacific Market Insights
Asia Pacific industry is likely to hold largest revenue share of 44% by 2035. The escalating demand for electronic semiconductor devices in developing countries such as China and India is the primary reason behind the growth of the market in this particular region. The demand for consumer electronics, including laptops and smartphones, as well as additional medical electronic equipment, is rising quickly in the Asia-Pacific area, with China and India predicted to continue to be the leading growth areas.
China and India being the leading regions for the high demand of consumer electronics such as laptops, smartphones or medical electronic devices is giving rise to the market expansion in the Asia Pacific region. A new analysis projects that China will lead the consumer electronics sector in revenue generation, with estimates of over USD 200 billion in 2023. With an expected GDP of USD 60 billion India stands out at third position.
North American Market Insights
The oxygen-free copper market in the North America region is anticipated to grow at a substantial CAGR during the estimated period. This can be impelled by the back of increasing penetration of oxygen-free copper in numerous industries and rising production creation with top-notch advanced technologies.
The market in the region is expanding as a result of improved production techniques that provide producers more control over the product's purity and quality. Additionally, Prime Materials Recovery, Inc. said in 2023 that it would be acquiring a Southwire Company SCR 4500 copper rod system to be installed at its affiliate, IMC - Metals America, LLC, located in Shelby, North Carolina. In a separate project, IMC will buy and install a new line from Upcast OY, a company based in Pori, Finland, to improve the manufacturing capacity of oxygen-free copper rods.
