Growing demand for E-vehicles the Oxygen Free Copper Bars Market

HYDERABAD, TELANGANA, INDIA, September 12, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Oxygen Free Copper Bars Market size is estimated to reach US$5.5 billion by 2027, after growing at a CAGR of 5.6% from 2022-2027. Increase in consumption of semiconductors from end users, growing production of electric vehicles, increase in residential construction and high consumption of electric devices like cell-phones are driving the growth of global oxygen free copper bars market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Key takeaways:

1. Asia-Pacific dominates the global oxygen free copper bars industry as the region consists of major end users of oxygen free copper bars like automotive and electronic in countries like China which have largest automotive market in world.

2. The rapid increase in population has led to increase in demand for residential buildings and apartments, which will create more usage for oxygen free copper bars for power distribution in these residential buildings.

3. Growing demand for electric and hybrid vehicles in regions like Europe and North America will create growth opportunities for global oxygen free copper bars industry, as oxygen free copper bars are majorly used in electric car batteries.

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Segmental Analysis:

1. Electrolytic tough pitch held a significant share in global oxygen free copper bars market in 2021, with a share of over 29%. The rapid development in these sectors has led to increase in their productivity, which has positively impacted usage of electrolytic tough pitch copper bars.

2. Electronic sector held a significant share in global oxygen free copper bars market in 2021, with a share of over 24%. The increase in usage of semiconductor has positively impacted the demand for oxygen free copper bars.

3. Asia-Pacific held the largest share in global oxygen free copper bars market in 2021, with a share of over 34%. The rapid economic development has increased the rate of industrialization in these countries, thereby increasing the industrial productivity of these sectors.

4. According European Automobile Manufacturing Association, over the first 10 months of 2021, new car registrations in the EU were up 2.2% totalling around 8.2 million units, compared to 2020.

5. According to World Semiconductor Trade Statistics, the global sale of the semiconductor industry in 2020 stood at US$ 439 billion dollars showing a 6.5% increase as compared to the 2019 i.e., US$ 412.3 billion. The increase in consumption of semi-conductors will lead to more usage of oxygen free copper bars for semiconductor manufacturing. This will boost the growth of global oxygen free copper bars industry.

6. According to US Census Bureau, in May 2021, construction of new houses stood at 1.54 million units compared to 1.04 million built in 2019 same month.

7. According to National Bureau of Statistics, in 2021, China’s semiconductor production output surged 33% i.e., double the growth rate of 16% in 2020. Oxygen free copper bars are used in automotive radiators, transistors and rectifiers, and they are used to make semiconductor components through plasma deposition process.

Competitive Landscape:

The top 5 players in the Oxygen Free Copper Bars industry are -

1. Mitsubishi Materials Corporation

2. Copper Braid Products

3. Avia Metals

4. Hitachi Metals Neomaterials

5. Citizen Metalloys Limited

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