Global copper, zinc markets to record CAGR growth of 4.9% and 3.96%, says research

SPOKANE (Scrap Monster): The new research report published by Transparency Market Research indicates that the global copper market is estimated to witness CAGR growth of 4.9% between 2015 and 2023. According to the report titled “Copper Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”, the market accounted for $138.05 billion in 2014. The report predicts that the market will be valued at $171.96 billion by 2023.

Among various sectors, construction industry will continue to remain as the main driver for copper demand growth during the mentioned period. The report states that the huge rise in infrastructure projects in developing countries will boost the demand for copper. Construction sector accounted for 40% of the global copper market volume in 2014. The sector is predicted to as the fastest-growing market segment during 2015-’23.

The demand from manufacturing segment is also expected to remain robust on account of increased production of machinery and domestic appliances. The popularization of green buildings will open new growth opportunities for copper market. However, the report also notes that copper is likely to face stiff competition from other materials such as plastic and aluminum, which in turn may impede copper market growth during the forecast period.

Among regions, Asia-Pacific accounted for over 60% share of global copper market volumes in 2014. It is expected to remain as the fastest-growing regional market during the forecast period, mainly on account of rapid industrialization and urbanization in the region. The report identifies Codelco, Aurubis AG, Freeport McMoRan Inc. Copper, Glencore, Grupo Mexico, and BHP Billiton Ltd. as the key market players. The report is segmented on the basis of copper type, application and country.

Meantime, another report released by Technavios predicts 3.96% CAGR growth to global zinc market during the period from 2016 to 2020. The report provides a detailed analysis of the present day market scenario along with growth prospects during the forecast period. The report titled “Global Zinc Market 2016-2020” is based on detailed market study carried out by professionals along with key inputs from industry participants.

According to the report, infrastructure development will act as the key driver for zinc market growth. Galvanization will continue to be the primary application area for zinc. Almost 50% of the total zinc production is utilized for galvanizing process. Incidentally, zinc is the most widely used metal after steel, aluminum and copper. The report predicts increased use of zinc oxides. However, economic slowdown in key consuming nations may dent the demand.

The report segments the global zinc market into different categories- Construction, Automobile, Consumer Durable, Engineering and Others. The key market players identified by the report include Glencore, Hindustan Zinc, Nyrstar Korea Zinc, Teck Resources, Votorantim and Boliden. Other market participants profiled in the report include Peñoles, Huludao Zinc Industry, Shaanxi Dongling Zinc Industry and Mitsui.