The Europe Oxygen-Free Copper Market is expected to grow at a whopping CAGR of 5.03% from 2024 to 2029 and be worth USD 2.35 billion by 2029 from USD 1.84 billion in 2024.
Oxygen-free copper (OFC) is a copper alloy that has been put through electrolysis to reduce the oxygen content in the conductor to very low percentages making it more efficient as a conductor. The oxygen-free copper alloy is used in several industries due to its advantageous properties, like the alloy's magnetic properties and how it acts as a semiconductor. Therefore, the alloy is used in many energy-related industries like thermal, electric, optical, etc. In addition, oxygen-free copper is a one-of-a-kind tool with extraordinary intrinsic properties such as excellent thermal and electrical conductivity, flexibility, fatigue strength, compressive strength, relatively low vacuum chamber instability, and simplicity of soldering.
This copper alloy is famous as an excellent conductor resulting in the product gaining popularity in power-related industries which use conductors for generating efficient supply like electric and thermal. The most prominent application of conductors is in electrical devices, as they are used as semiconductors and complete conductors in different parts to provide adequate electricity. Therefore, the business firmly holds electrical products like switchboards and machinery. High processing costs, however, and the introduction of viable substitutes Such as tough electrolytic pitches (ETP) copper are projected to hinder global market progress. Furthermore, the expanding spectrum of applications in a variety of sectors, as well as the expanding electrical and electronics sectors in emerging economies, are projected to present significant growth opportunities over the assessment period.
One of the main factors propelling the oxygen-free copper market is the rising electrical and computer production across Europe. Furthermore, the market is developing due to the rising concerns regarding the environmental hazards of using some industrial materials due to their long decomposition rates and extensive use of this copper alloy in the automotive, electronics, and even aerospace sectors. Additionally, the continuous digitalization of the world has resulted in the popularity of e-commerce solutions acting as a driver in the market.
Oxygen-free copper is widely utilized in the electronics and electrical end-use industries. In addition to this industry, oxygen-free copper may be used in the defense and aerospace, pharmaceutical, and other end-use sectors. Copper without oxygen is also utilized in magnetrons, which are powerful vacuum tubes used in radar equipment. It is suitable for radar transmitters as well. The aerospace and defense end-use sectors may benefit from magnetrons made of oxygen-free copper due to their high purity, excellent electrical conductivity, and low vacuum volatility. It is possible to employ oxygen-free copper-based magnetrons in aircraft, ships, and submarines.
Furthermore, oxygen-free copper can be employed in missile heads due to its high heat conductivity and the aforementioned qualities. Copper is an antibacterial metal that is often utilized in the medical field to prevent infection (HAIs). It is utilized in medical devices and implants, among other things. As a result, oxygen-free copper may find used in the medical industry. It can be utilized to transfer signals in small implants and diagnostic equipment due to its electrical conductivity. Oxygen-free copper is utilized in traction motors and other small-scale applications in the railway sector. As a result, the aerospace and defense, medical, and other end-use industries have an unexplored market for oxygen-free copper.
Companies produce oxygen-free copper utilizing technologies such as the UPCAST technique, dip-forming, and continuous extrusion. These methods are used to produce high-purity copper (99.9%) by melting and casting copper cathodes under tightly controlled/vacuum conditions. This processing necessitates significant investments in technology and machinery, whereas other forms of copper do not have unique manufacturing techniques. As a result, the cost of producing oxygen-free copper and its products is significant. Furthermore, due to its high production cost, oxygen-free electronic (C10100) copper has limited uses, such as tailored power solutions. Furthermore, different grades and purity of copper are required for various purposes in the electronics and electrical, and automotive industries. This results in customized copper grade demand with low-volume manufacturing, which is not cost-effective for producers as well as end users and reduces manufacturers' profit margins. As a result, the high cost of copper processing limits the expansion of the Europe oxygen-free copper market. During the projected period, Europe's oxygen-free copper market would face additional challenges due to the fluctuating price of copper.
This research report on the Europe Oxygen-Free Copper Market is segmented and sub-segmented into the following categories.
Europe Oxygen-Free Copper Market - By Grade
Europe Oxygen-Free Copper Market - By Product
The wire is the largest revenue collector and is expected to stay so during the forecast period. Oxygen-free copper wires are widely utilized in the electrical and electronics industries. Worldwide wire manufacturers utilize oxygen-free copper wire to reduce undesired gaps within the wires that impede transmission. It has several properties such as long service life, dimensional correctness, crack-free bends, and excellent conductivity.
Europe Oxygen-Free Copper Market - By End-user
By end-user, the Electronics & Electrical and Automotive segments led the Europe market. Electronics & Electrical sensors are made from oxygen-free copper, as are hollow conductors for coaxial cables and wire, transistors, and other components. It is used as wire and coaxial cable for current transmission in televisions, computers, and other electronic devices. Additionally, it is appropriate for producing electrical and electronic devices that operate in a vacuum, such as CT scanners and X-ray tubes.
Europe Oxygen-Free Copper Market - By Country
KEY MARKET PLAYERS
Major key players in the Europe Oxygen-Free Copper Market are Sam Dong, Hitachi Metals Nanomaterial Ltd., Mitsubishi Materials Corporation, Aviva Metals, Havilland Enterprises Inc., Millard Wire & Specialty Strip Co, Copper Braid Products, Farmer's Copper Ltd., Heyco Metals Inc., Hussey Copper Ltd.
Frequently Asked Questions
The Europe oxygen-free copper market size is projected to grow from USD xx billion in 2021to USD xx billion by 2027.
The electronics and electrical end-use industry is experiencing an increase in demand for oxygen-free copper, and sales of electric vehicles are also rising (EVs).
The Europe oxygen-free copper market is somewhat fragmented, and it contains a number of major domestic, regional, and international competitors. These firms' robust and well-established distribution and procurement networks support cost-effective production.
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