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DUBLIN--(BUSINESS WIRE)--The "Oxygen-Free Copper Market by Grade (Cu-OF, Cu-OFE), Product Form (Wire, Strips, Busbar & Rod, Others), End-Use Industry (Electronics & Electrical, Automotive, Others), & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The oxygen-free copper market is projected to grow from USD 19.9 billion in 2020 to USD 25.9 billion by 2025, at a CAGR of 5.3% during the forecast period. The oxygen-free copper market has grown considerably in recent years owing to the growth in the electronics & electrical and automotive industries worldwide. The rising demand for high-quality materials in the aerospace, defense, and transportation industries along with the development of the electronics market in the emerging economies, such as China, Brazil, and India has accelerated the growth in the market. In terms of value & volume, the Wire segment is projected to lead the oxygen-free copper market in 2019. The wire segment is projected to lead the oxygen-free copper market, in terms of both value & volume, during the forecast period. Oxygen-free copper wires are most frequently used in high-end audio and video systems and for individual oxygen-free copper wiring custom assemblies. Oxygen-free copper is used for speaker wires, audio/video cables, assemblies, and amplifier wires. Oxygen-free copper wires have advantages, such as higher conductivity and the ability to transfer low-frequency sounds over normal copper wires. The automotive segment is projected to be the fastest-growing segment by end-use industry throughout the forecast period. The automotive segment is projected to be the fastest-growing segment by end-use industry throughout the forecast period. The sales of EVs have been increasing globally, especially in developed regions like North America and Europe. The growing concerns over environmental pollution are driving the market of these vehicles worldwide. The increase in EV sales is also driven by favorable government policies and subsidies and heavy investments from automakers. According to International Energy Agency (IEA), the sales of electric cars reached were 2.1 million units, globally, in 2019, surpassing 2018 sales to boost the total number of EVs currently on the road to 7.2 million. In terms of both value and volume, the Asia Pacific oxygen-free copper market is projected to grow at the highest CAGR during the forecast period. The Asia Pacific is a major consumer of oxygen-free copper accounting for the largest share in the oxygen-free market. This region is a prospective market for the growth and demand of electronics & electrical and automotive, among other industries. Countries in this region such as Japan, China, Korea, Taiwan, India, and Singapore are primary centers for the manufacturing and sale of electrical & electronic goods, which are the major end-users of oxygen-free copper. The Asia Pacific region is a lucrative market for automobiles and is witnessing a shift toward EVs, such as Hybrid Electric Vehicles (HEVs). China is a major market for oxygen-free copper in the Asia Pacific region, owing to the high production as well as consumption of electrical & electronic goods. Japan is a technologically-advanced country and is also a significant market for this copper type. China and India have become the principal centers for the manufacturing and assembling of electronics & electrical and automotive products. In addition, the growing e-commerce industry in the Asia Pacific has accelerated the demand for electronic goods. The Asia Pacific offers cheap labor and the availability of raw materials, which eventually reduces the manufacturing cost of producers. The high population in China and India and increasing standards of living have attracted foreign investments in the manufacturing sector in this region. Thus, the growing demand from the Asia Pacific region is expected to be a major market driver. Market Dynamics Drivers Restraints Opportunities Challenges Companies Mentioned For more information about this report visit https://www.researchandmarkets.com/r/7jo8hz

Answer: Oxygen-Free Copper Market by Grade, Product Form, End-use Industry & Region - Global Forecast to 2025 - ResearchAndMarkets.com