Copper Smelting Market Size Worth $2.0 Billion by 2031 | CAGR: 3.8%: AMR
Allied Market Research
4 min read
Allied Market Research
Extensive adoption of functioning flash smelting process, increase in mining efficiency with the help of functioning flash smelter, and rise in mining activities in various countries drive the growth of the global copper smelting market. Increase in support from governmental organizations have helped copper smelting companies to increase production capacity during the pandemic which positively impacted the growth of the market.
Portland, OR, Nov. 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global copper smelting market generated $1.4 billion in 2021, and is projected to reach $2.0 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Extensive adoption of functioning flash smelting process
Increase in mining efficiency with the help of functioning flash smelter
Opportunities
Rise in mining activities
Improvement in logistics services
Restrains
Extortionate cost of production
COVID-19 Scenario:
The outbreak of COVID-19 had a positive impact on the growth of the global copper smelting market, owing to the surge in importance of copper ore during the pandemic.
The demand for copper smelting has increased amid COVID-19 pandemic owing to rise in import and export of copper ore across India, China, and U.S.
In addition, several protests and support from governmental organizations have helped copper smelting companies to increase production capacity through mergers and acquisitions and business expansion developmental strategies.
Thus, the market is expected to grow exponentially with the rise in mining activities.
The report offers detailed segmentation of the global copper smelting market based on process and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on process, the oxygen flash smelting segment held the dominating market share in 2021, holding more than three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The reverberatory smelting segment, on the other hand, is expected to cite the fastest CAGR of 4.0% during the forecast period.
Based on region, the Asia-Pacific region held the largest market share in 2021, holding more than three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 3.9% during the forecast period. The report also analyses other regions of the market such as North America, Europe, and LAMEA.
The key players analyzed in the global copper smelting market report include Aditya Birla Management Corporation Pvt. Ltd., American Smelting and Refining Company, Aurubis AG, Dhanavanti Engineering, Glencore, Hindustan Copper Limited, KGHM, Southern Copper Corp., Teck Resources Ltd., Vedanta Limited.
The report analyzes these key players in the global copper smelting market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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