A comprehensive overview of the global recycled copper market is recently added by UnivDatos Market Insights to its humongous database.
A comprehensive overview of the global recycled copper market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the recycled copper market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global recycled copper market at regional and country levels. The global Recycled Copper Market expected to grow at a CAGR of around 4% during the forecast period (2021-2027).
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Market Overview
Recycled copper is gaining popularity, owing to its cost efficiency since the production process consumes much less energy. Wiring and electrical applications are the key focus point for companies in the recycled copper market since recycled copper retains its electrical conductivity. The rising awareness about the advantages posed by recycled copper has fueled the adoption rate of recycled copper in various industries. According to the European Copper Institute, about 50% of the copper demand in the region is met by recycling. Furthermore, the fact that recycling copper uses about 85% lesser energy than its primary production has been a key reason for the consumers to shift to recycled copper. Rise in awareness about environment sustainability among manufacturers and consumers is projected to drive the recycled copper market during the forecast period. As copper manufacturers have started adopting advanced energy management systems to lower their environmental footprint.
COVID-19 Impact
The coronavirus pandemic declared as public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on travelling, shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain. The corresponding downturn in the global manufacturing sector has further affected the growth of the recycled copper market. The shortage in manufacturing of new electric appliance and electronic goods due to shutdown of work and low workforce capacity had also impacted the market.
In addition, the building and construction activities across the region were put on halt during the surge in the number of Coronavirus cases has also impacted the market size of recycled copper market. Moreover, with the help of virtual events, companies in the recycled copper market are gaining ideas of buoyancy to continue business in a slow growing market. However, in the long run the market is expected to have significant growth rate owing to the surging automobile industry coupled with growing electronic good manufacturers in China is propelling the market size recycled copper.
Global recycled copper market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
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By Copper Scrap Grade, the market is primarily bifurcated into:
· Bare Bright Copper
· # 1 Copper
· # 2 Copper
· # 1 Insulated Wire
· Others
Based on copper scrap grade, the recycled copper market is segmented into bare bright copper, # 1 copper, # 2 copper, # 1 insulated wire and others. The bare bright copper segment catered significant demand in recycled copper market. Bare bright copper is by far the first among the types a scrap dealer would like to find owing to its bright & shiny color texture. Moreover, it is valued at high price and considered as most valuable product in the scarp.
By Application, the market is primarily bifurcated into:
· Building & Construction
· Transportation
· Industrial Machinery & Equipment
· Electrical & Electronics
· Others
Based on application, the recycled copper market is segmented into building & construction, transportation, industrial machinery & equipment, electrical and electronics and others. The electrical and electronics segment holds the considerable market share in recycled copper market. As recycled copper is employed in a wide range of applications in power generation, distribution, and transmission industry, due to its high electric and thermal resistance.
Global Recycled copper Market Geographical Segmentation Includes:
· North America (United States, Canada, Rest of North America)
· Europe (Germany, UK, Spain, Italy, France, Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
· Rest of World
Based on the estimation, Asia Pacific holds the extensive market share owing to the surging electronic manufacturers in China coupled with increasing demand for recycled copper in construction and power generation, distribution & transmission industries are anticipated to positively impact the market in the region.
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The major players targeting the market includes:
· Aurubis AG
· Commercial Metals Company
· Schnitzer Steel Industries, Inc.
· Umicore N.V.
· Kuusakoski Group Oy
· Sims Metal Management Ltd.
· OmniSource, LLC
· Elgin Recycling
· Pacific Metal Pty Ltd
· Universal Recycling
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts’ sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global recycled copper market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global recycled copper market?
· Which factors are influencing global recycled copper market over the forecast period?
· What are the global challenges, threats, and risks in the global recycled copper market?
· Which factors are propelling and restraining the global recycled copper market?
· What are the demanding global regions of the global recycled copper market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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