LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the copper strips market in EMEA is expected to grow at a CAGR of more than 5% during the forecast period.
This research report titled ‘Copper Strips Market in EMEA 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the copper strips market in EMEA into three major application segments. They are:
- Transformers and motors
- Switchgears
- Semiconductors and other electronics
Copper strips market in EMEA for transformers and motors
Transformers form an integral part of the overall T&D equipment and are essential in the overall transmission of energy to the consumers. Windings form the most important component of a transformer. Copper is the conductor material used in transformer windings, strips, busbars, and others. Both power and distribution transformers use copper strips.
“Growing urbanization in developing countries such as Saudi Arabia and the UAE is leading to a rise in the demand for reliable distribution of electric power. This increase in demand for electric power is positively impacting the demand for power and distribution transformers in these countries, which, in turn, will boost the market for copper strips during the forecast period,” says Ajay Adikhari, a lead analyst at Technavio for metals and minerals research.
Copper strips market in EMEA for switchgears
Switchgear is a protection device used to effectively protect equipment and circuits from unregulated power spikes. Inadequate and erratic power supply has resulted in increased demand for switchgear. Also, high-voltage transmission of electricity to compensate for electricity losses increases the danger of mishaps, thereby necessitating the use of switchgear to protect equipment and prevent such mishaps. Switchgear finds its application in various industries.
The power industry in both developed countries such as Germany and the UK and developing countries such as South Africa, Saudi Arabia, and Russia is increasingly adopting the smart grid technology. This will boost the demand for switchgear and hence the market during the forecast period.
“Also, in industrialized countries, the replacement of old and faulty T&D network is expected to increase the demand for copper strips for switchgear application during the forecast period,” says Ajay.
Copper strips market in EMEA for semiconductors and other electronics
Since electronic components are becoming smaller and thinner day-by-day, copper strips are increasingly used in these components because copper has higher tensile strength and reliability than other metals such as brass and aluminum. This, in turn, is expected to increase the demand of copper strips for semiconductor applications.
The main aim of developing a copper alloy product for electronic applications is to increase the alloy strength without sacrificing the thermal and electrical conductivity of the product. Therefore, copper strips are used in the manufacturing of white light emitting diode (LED). These LEDs are used for various applications such as traffic signals and automotive lights. Also, the electrode materials that are used in white LEDs are required to have thermal resistance along with high conductivity, superior press foamabilities, and bending capabilities.
The top vendors highlighted by Technavio’s chemicals and materials market research analysts in this report are:
- Aurubis
- Copper and copper alloys Semifinished Products
- KME
- MKM Mansfelder Kupfer und Messing
- Wieland–Werke
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