Oxygen-free Copper Market Size

Oxygen-free Copper Market size was over USD 24.58 billion in 2024 and is poised to exceed USD 47.51 billion by 2037, growing at over 5.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of oxygen-free copper is evaluated at USD 25.6 billion.

Market expansion is driven by the increasing use of oxygen-free copper in the automotive industry. Thus, the market is heavily influenced by the growth of the automotive industry and the increase in the number of electric vehicles. due to its excellent electrical conduction ability, which is essential for the development of efficient electric motors, charging infrastructure, and energy transmission systems for electric vehicles.

According to the IEA, global spending on electric vehicles reached approximately USD 425 billion in 2022, an increase of 50% compared to 2021. Most of the money was spent directly by customers purchasing vehicles, with the government investing about USD 40 billion through direct purchase incentives.  

Oxygen-free copper is used in speaker cables, audio video connectors, and amplifier cable assemblies. Due to its unique purity, it has a higher conductivity and can transmit sound at lower frequencies. Some manufacturers claim oxygen-free copper cables have better sound quality and a longer lifespan than other less pure copper cables.

There are many advantages to using oxygen-free copper in the production process because of its characteristics such as exceptional physical and electric conductivity. Copper has one of the highest electrical conductivity values among all metals in existence, and this allows copper to operate a wide range of electric currents without difficulty.