Copper Market Study of Copper Materials Across Regional Industries

The global copper market was valued at USD 241.88 billion in 2024 and is projected to reach USD 339.95 billion by 2030, growing at a CAGR of 6.5% from 2025 to 2030. Copper plays a critical role in solar panels, wind turbines, and associated grid infrastructure, as well as in industrial manufacturing, electronics, and advanced technology applications.

Technological developments in industrial manufacturing and electronics are also fueling copper usage. The growing adoption of automation, robotics, and advanced electronics in consumer goods and industrial applications necessitates their use in semiconductors, circuit boards, and high-performance wiring. As industries increasingly digitize and require more efficient electronic systems, the demand for refined copper and copper alloys is expected to expand steadily. Furthermore, 5G network deployment, data center expansion, and Internet of Things (IoT) devices all incorporate copper in their components and infrastructure.

Key Market Trends & Insights

• Asia Pacific dominated the copper market, holding 74.7% of revenue share in 2024.
• In North America, the U.S. accounted for the largest market revenue share.
• By end use, building and construction led the market with 26.4% revenue share in 2024.
• By product, copper wire led the market with 61.7% revenue share.
• By type, primary copper accounted for 84.8% revenue share in 2024.

Download a free sample PDF of the Copper Market Intelligence Study by Grand View Research

Market Size & Forecast

• 2024 Market Size: USD 241.88 Billion
• 2030 Projected Market Size: USD 339.95 Billion
• CAGR (2025-2030): 6.5%
• Asia Pacific: Largest market in 2024

Competitive Landscape

Leading companies in the global copper market hold significant market share and shape industry trends.

Key Players Include:

• AngloAmerican
• Antofagasta plc.
• Aurubis AG
• BHP
• Codelco
• Freeport-McMoRan
• Glencore
• GRUPO MÉXICO
• Jiangxi Copper Corporation
• KGHM
• Rio Tinto
• Teck Resources Limited

Recent Developments

• April 2025: Adani Enterprises Ltd. (India) is set to launch the world's largest copper smelter by June 2025. The first phase of the project is approved, with further capacity expansion plans authorized by environmental authorities. This positions Adani as a key player in the global copper industry.
• April 2024: Prysmian, a global leader in energy and telecom cable systems, signed a long-term contract with Aurubis, a leading European copper wire rod manufacturer, to supply increasing volumes of copper wire rods. This ensures supply continuity for Prysmian’s European plants and supports future growth.

Explore Horizon Databook – the world’s most comprehensive market intelligence platform by Grand View Research.

Conclusion

The copper market is poised for steady growth, fueled by industrial digitization, renewable energy projects, and technological advancements. With Asia Pacific leading the market and key players expanding production capabilities, the sector remains central to global infrastructure, electronics, and sustainable energy developments.