Since January 2025, copper prices have risen by ~12.5%, signaling strong global demand and underlying structural changes across industries. The copper market was valued at USD 305.0 billion in 2023 and is projected to grow from USD 320.86 billion in 2024 to USD 481.33 billion by 2032, reflecting a CAGR of 5.2% during 2025–2032. Copper’s exceptional electrical and thermal conductivity makes it indispensable for power generation and transmission reinforcing its status as a cornerstone material in modern economies.

Asia-Pacific is set to remain both the largest and fastest-growing market for copper. Robust industrialization, rapid urbanization, and increasing demand from construction, electronics, and renewable energy sectors in China and India are key growth drivers. The ongoing expansion of electric vehicle and renewable energy infrastructure, along with the rollout of 5G networks, is further fueling consumption. Strategic partnerships between mining companies and technology firms are also emerging to ensure stable and sustainable copper supplies in response to tightening global resources and growing environmental considerations.

While the long-term outlook for copper remains positive, short-term volatility may persist as the tariff-related market adjustments and the unwinding of inventory build-ups could temporarily exert downward pressure on prices. Trump administration imposed a steep 50 per cent tariff on imports of semi-finished copper goods such as wires, tubes and rods. Nevertheless, copper’s critical role in the global energy transition, electrification, and advanced manufacturing secures its importance for investors and industries alike. These dynamics suggest that copper will continue to play a pivotal role in shaping the future of energy, technology, and sustainable economic development.