Global Copper Industry

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Global Copper Market to Reach $298.4 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Copper estimated at US$170.6 Billion in the year 2022, is projected to reach a revised size of US$298.4 Billion by 2030, growing at a CAGR of 7.2% over the period 2022-2030. Electrical & Electronics, one of the segments analyzed in the report, is projected to record 8.7% CAGR and reach US$134.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Building & Construction segment is readjusted to a revised 5.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $46.5 Billion, While China is Forecast to Grow at 11.5% CAGR

The Copper market in the U.S. is estimated at US$46.5 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$68.4 Billion by the year 2030 trailing a CAGR of 11.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.

CARG = Compound Annual Growth Rate

So the Copper market basically has to double in size & capacity over the next 7 years.
LOL, GL with that.