The Use of Copper
Copper plays a crucial role in the energy transition due to its excellent electrical and thermal conductivity, making it essential for building a cleaner, electrified energy system.
Electrification of Energy Systems
As we shift from fossil fuels to renewable energy and electric systems, copper demand rises because:
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Electric vehicles (EVs) use up to 4 times more copper than internal combustion engine vehicles.
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Charging infrastructure for EVs requires substantial copper wiring.
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Electric motors and batteries rely on copper components.
Renewable Energy Technologies
Copper is used heavily in:​
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Wind turbines (especially offshore, which use more copper per MW)
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Solar PV systems (in inverters, wiring, and modules)
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Hydropower systems (for generators and transmission)
Grid Expansion & Modernization
Transitioning to renewable energy needs a more extensive and smarter electrical grid:
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Transmission lines and transformers use significant amounts of copper.
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Smart grids and decentralized systems (like home solar + storage) rely on copper for connectivity and reliability.
Energy Efficiency
Copper’s high conductivity means it helps reduce energy losses, making systems more efficient.
Copper is the metal of electrification—it’s vital for everything from generating clean energy to transporting and using it efficiently. As the world pushes for net-zero emissions, copper demand is expected to grow significantly, making it a strategic resource for the energy transition.
The Copper Market
Copper Market Size Forecast in USD Billion
2023 - 2034
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
$ 548.20
$ 522.63
$ 497.86
$ 471.90
$ 447.72
$ 425.19
$ 333.15
$ 349.14
$ 366.25
$ 384.56
$ 404.17
$ 318.19
Global Price of Copper
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
10.000
9.000
8.000
U.S. Dollar per Metric Ton
7.000​
6.000
5.000
4.000
BHP
"The global copper demand will rise from 30.4 million tonnes in 2021 to 52.5 million tonnes by 2050, driven by the energy transition and the growth of artificial intelligence and data centers"