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Copper Strips Market to Grow Rapidly on Escalating Product Demands in Electronics and Electrical Industries
May 29, 2017 | SATPRNEWSEstimated reading time: 3 minutes
Rising infrastructural development, particularly in developing countries of Europe, Middle East and Africa, will further aid Copper Strips Market suppliers as updating the national power grids in these countries fuel the production of wires and cables. Copper Strips Market size is expected to witness a gush in demand due to high gains in construction spending enhances the product consumption in various applications including switchgears, transformers and other electronics.
Copper is a light metal with outstanding malleable and ductile properties. It possesses high thermal and electrical conductivity. It is widely used in numerous industrial and antibacterial applications high malleability property of copper and ease of application in machineries during fabrication procedures enables high production rate of precise copper strips at relatively lower cost as compared to its substitutes.
Rising product demand in power generation stations to connecting generators with step up transformers and further transformer to switchgears. Copper strips are widely used in transmission and distribution equipment.
Electronics & electrical end-use industry segment is also projected to grow with escalating product demand in various applications including casting molds, klystrons, backing plates, video & audio systems, microwave tubes, semiconductors, heat sinks, magnetrons, vacuum capacitors & interrupters and printed circuit boards. High demand for high quality copper along with high electrical conductivity has augmented the demand for the product in the electronics & electrical end-use industry.
Most trendy sector gaining momentum in the industry is rising solar power sector. Today, the application of solar energy to produce electricity is a well-known technology. Copper strips play a vital role in electricity conduction between the cells of a solar panel. It separates different solar cells and conducts the current composed by cells to various solar inverters that convert direct current to alternate current power. The product size chiefly determines the maximum current that can be safely conducted through them. Therefore, rise in solar energy sector will flourish the product demand in the copper strips market.
High competition from alternative metals and minerals posed to restrain growth of the industry. Although copper conductivity is much higher as compared to aluminum, there is always a skulking threat that aluminum might replace copper, further affecting the growth of the copper strips market. Also, aluminum is cheaper and does not involve much fluctuation in prices as copper. Recently, the threat of substitution was present owing to higher prices of copper than that of aluminum. However, the properties of copper refute any likely short-term benefits delivered by aluminum.
Asia Pacific is the largest copper strip market owing to the upgraded regional growth in China and India. The region is also anticipated to generate high growth rates on the back of a continuous development in infrastructure upgradation and aggressive construction industry. Rise in urbanization and globalization is effectively boosting the product utilization in various industries including power, household appliances, automotive and industrial machinery.
Growth in demand of copper strips in China could be strengthened by the weighty rate of the local production of automobiles and household appliances. The demand of copper in the manufacturing of electrical wire, pipe, electronic goods and telecommunications equipment in the country is owing to the progress of the electrical & electronics sector and continuous boom in construction & infrastructure industry.
Europe and North America are also growing in terms of demand due to high product applications in household appliances and construction industry. Advanced economies and increase in spending capacity in the region is boosting the overall growth of copper strips market. Middle East & Africa and Latin America are also envisioned to be poised for a lucrative growth owing to their growing construction sector.
Some of the key industry players include KME, Aurubis,MKM Mansfelder Kupfer und Messing and Wieland–Werke. Other prominent players are Egyptian Metal Works, Copalcor Group, Metal Gems (Mehta Group), Elektrosan Elektro Bak?r and Eredi Gnutti Metalli.
In 2016, German copper producer, Aurubis merged with a German steel making company, Salzgitter. This strategy helped the company to expand its production capacity of copper and steel across Europe.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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