As the Financial Times notes, copper is critical for human progress and this is more evident than ever before amid today’s energy transition.
Manufacturers are recognizing copper’s critical role in decarbonization and meeting 2050 net-zero goals, creating direct deals between copper suppliers and end users like carmakers and utilities. Research commissioned by the International Copper Association, reveals copper’s future market share will be defined by regional trends and the green energy transition, which are expected to help drive copper demand from 28.3 million tonnes in 2020 to 40.9 million tonnes in 2040.
As the “metal of electrification,” copper is essential for the green technologies that will power a cleaner world. These end users recognize that its superior conductivity, reliability, and recyclability that has long made copper a catalyst for progress makes it the best material to power the energy transition today.
International Copper Association is proud of our work with members to promote, protect, and defend copper markets and demand. We encourage partnerships, and advocate for supportive policies that allow for continued innovation and progress.
At International Copper Association, we’ve worked to highlight copper’s impact on developing a low-carbon economy, creating partnerships in the clean energy sector with governments and NGOs. Recently, this work contributed to India’s recognition of copper as a critical mineral and elimination of customs duties on copper concentrate and blister imports.
While there is enough copper in the earth and on the ground to meet this critical moment, meeting demand must start with an inclusive approach to supportive policies, faster permitting, innovative technologies, and partnership with industry, as well as the understanding that copper is key for human development.