Refined Copper Market Value Forecast Industrial Growth Impact

Anuja Patil04 Jul, 2025Technology

Report Overview: The global refined copper market was valued at approximately USD 237.6 billion in 2022 and is expected to grow to USD 368.9 billion by 2032. This reflects a steady compound annual growth rate (CAGR) of 4.5% over the forecast period from 2023 to 2032, driven by increasing demand across construction, electronics, and energy sectors. The refined copper market is experiencing consistent growth due to increasing global demand in power transmission, construction, electronics, and clean energy applications. Its excellent electrical conductivity and recyclability make copper a preferred material in emerging technologies like electric vehicles and renewable energy systems. Urbanization and infrastructure development in emerging economies are also key drivers. However, the market faces challenges such as raw material price volatility and environmental concerns from mining. Still, innovation in refining processes and circular economy efforts offer positive prospects.