Copper Wire Rods Market is expected to reach US$ 202.3 Billion by 2031

Global Copper Wire Rods Market Forecast to 2031: Key Insights

According to our latest study on "Global Copper Wire Rods Market – Global and Regional Share, Trend, and Growth Opportunity Analysis – by Diameter Size, Industry, and Geography," the market was valued at US$ 152.8 billion in 2024 and is expected to reach US$ 202.3 billion by 2031. The copper wire rods market is estimated to register a CAGR of 4.2% during 2025–2031. Technological advancements, automation, and digitalization in rod production drive the copper wire rods market trend.  

Copper wire rod is essentially a half-finished product that results from the continuous casting and hot rolling of copper cathodes of very high purity into 8–26 mm coils. These coils are then drawn into wires and conductors that have very high conductivity, ductility, and recyclability. Copper wire rod is basically used in power cables, building wiring, windings, EV/auto harnesses, rail contact wires, and telecom/data cables. It is normally divided by grade (ETP, OF/OFHC, and alloys), diameter (standard 8–12 mm and bigger sizes), and end-user (utilities, wire and cable, automotive/EV, electronics/telecom, and industrial equipment).

Copper Wire Rods Market

Automotive Electrification and EV Ecosystem Global Copper Wire Rods Market Growth

The ongoing electrification of mobility can be considered as a first major driver for copper wire rods. It includes hybrid cars, battery electric vehicles (BEVs), plug-in hybrids, two- and three-wheelers, buses, and commercial fleets, etc. These changes increase the use of copper per vehicle, and new copper demands emerge in the charging as well as grid-interfacing sectors. Copper wire rods are converted into copper wire and cable of the highest quality. They are used in traction motor windings, inverters, onboard chargers, battery interconnects, high-voltage harnesses, thermal management systems, and power electronics, with some estimates suggesting that fully electric vehicles require something such as two to four times more copper than standard internal combustion engine (ICE) vehicles owing to their sophisticated electrical systems. By putting tougher emission regulations, phasing out ICE vehicles, and granting financial incentives to EV purchasers, governments all over the world are speeding up the global EV sales with direct consequences on the demand for copper wire rods, which is looking very healthy for many years to come.  

However, the transition to EVs does not stop at the vehicle itself. To facilitate the switch, the next-generation charging network has to be put in place. There are several charging solutions in the market: AC chargers, DC fast chargers, depot and fleet charging, and public charging corridors. Irrespective of the type, every charging device requires a significant amount of copper for the internal wiring, power modules, transformers, and grid interconnections. On top of that, electrification is not only the key to greener EVs but also to smarter and safer vehicles in general. Automakers and Tier-1 suppliers are using several technologies, such as advanced driver assistance systems, connectivity, and in-vehicle electronics, to enhance the driving experience of both EVs and modern ICE vehicles; thus, copper wire content for low-voltage harnesses and signal wiring is increased as well. It is the interplay of vehicle-level copper intensity, the expansion of charging infrastructure, and the trend of the broader automotive electronics sector that prompts a demand for copper wire rods very sensitive to global EV adoption curves and automotive innovation cycles; hence, they can be regarded as a strategic material in the transport sector's long-term transition. 

Global Copper Wire Rods Market: Segmental Overview

Based on the media, the global copper wire rods market forecast is evaluated by considering below 10 mm, 11 mm to 20 mm, and above 20 mm. The below 10 mm segment held the largest copper wire rods market share. 

Wire rods made of copper with a diameter of less than 10 mm are the crucial material that is used for high-speed wire drawing to produce fine and medium copper wires, which are used for electrical wiring, power cables, magnet wire for motors and transformers, automotive harnesses, communication cables, small connectors, and various precision components. This segment is the one that is most often used where multiple drawing passes, tight tolerances, and excellent surface finish are required; thus, the manufacturers concentrate on oxygen-free or low-oxygen casting, precise rolling, controlled cooling, and surface defect control to ensure drawability, die life, and low wire break rates. Consequently, sub-10 mm copper rods are at the heart of high-value wire, cable, and component chains for the construction, automotive, electronics, and electrical engineering sectors.

Copper wire rods of 11–20 mm size are utilized both as intermediate stock and, in most cases, as structural and electrical components directly in the manufacture of busbars, connectors, earthing rods, larger cable cores, industrial conductors, and mechanical parts of electrical machinery. The diameter range is a good conductor of strength and workability, hence it allows limited drawing, bending, or machining rather than extensive reduction. Manufacturers focus on consistent electrical and mechanical properties, low inclusions, and dimensional accuracy to facilitate forming, threading, or extrusion. This segment is especially vital for power distribution, industrial electrification, renewable energy, and infrastructure applications that require high current-carrying capacity and reliability. 

Global Copper Wire Rods Market Analysis: Competitive Landscape and Key Developments

The global copper wire rods market report highlights the factors driving market expansion and the key developments of prominent players. Mitsubishi Materials Trading Corp, Hindalco Industries Ltd, APAR Industries Ltd, Leebo Metals Pvt Ltd, Elcowire Group AB, Cunext Copper Industries SL, International Metal Industry Co Ltd, and KME Germany GmbH are among the prominent players profiled in the global copper wire rods market report. Market players focus on new product launches, expansion, diversification, and acquisition strategies, which enable them to capitalize on prevailing business opportunities.

• In October 2024, Direct Wire opened a new, state-of-the-art oxygen-free copper rod mill that uses an advanced upcasting process, marking its entry into a new market for high-quality oxygen-free copper rod and stems. The facility’s cutting-edge technology delivers highly consistent, premium oxygen-free copper products and positions Direct Wire as a leader in innovative copper rod production.
• In April 2024, Prysmian and Aurubis, a top global nonferrous metals supplier and the largest copper recycler globally, signed a long-term supply agreement for copper wire rods. As per the contract, Aurubis is committed to delivering a considerable volume of copper wire rods that will also increase annually on a year-over-year basis.   

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