Global copper demand to rise to 36 million tonnes in 2019

Global demand for copper, a metal that is made from refined copper, secondary raw materials and copper waste, is forecast to grow more than 4 percent annually through 2019 to 36.0 million tonnes, worth $ 261 billion.

According to the latest research by the Freedonia Group, the use of copper wire, pipes and other copper-based products is expected to increase in construction and plumbing. Increased investment in infrastructure, especially in developing countries, will further expand the use of copper in upgrading national power systems, stimulating an increase in wire and cable production.

In addition, advances in the global manufacturing industry will be facilitated by the use of metallic copper in transport equipment, industrial equipment, household appliances and other durable goods. However, competition from alternative materials such as plastic pipes in plumbing will hold back rapid overall growth.

China controls the global copper market, accounting for more than two-fifths of global demand in 2014, according to analyst Caroline Zulandt. “The massive construction of buildings in the country, as well as the electrical and electronic sectors, consume huge amounts of copper,” she explains. China's new infrastructure investment plan will boost global copper demand. In addition, the rise in domestic production of vehicles, industrial equipment, and household appliances will continue to drive up copper demand in China.