While demand for copper is expected to rise, supply may struggle to keep pace.
Copper’s role as the preferred conductor for electricity along with its ductility, corrosion resistance and antimicrobial properties make it an indispensable commodity across a wide range of applications.
Copper’s wide range of applications is anticipated to evolve with the transition to an electrified, low-carbon economy.
While there will still be robust demand from traditional applications in buildings and consumer products (driven by population growth and urbanisation), there is expected to be an uplift in demand of copper from transition aligned applications, such as power transmission and distribution, renewable energy generation, energy storage and electric vehicles (EVs).
Projected copper demand growth between 2025 and 2035 under a net zero scenario
Figure above: Total copper consumption under Wood Mackenzie’s Net Zero scenario.
Source: Wood Mackenzie: Copper Energy Transition Outlook 2025.
Note: Organic demand refers to growth in non energy transition-related demand.
Uses of copper
Building and Industrial
(31%)
Construction, electrical systems, and industrial components that support urban infrastructure and manufacturing.
Electrification
(28%)
Power generation, transmission, and electrified transport enabling the energy transition.
Consumer Products
(19%)
Household appliances, tools, and personal goods that enhance everyday living.
Digital / Artificial intelligence (AI)
(9%)
Telecommunications, data infrastructure, and electronic systems powering digital and AI-driven technologies.
Cooling
(9%)
Smartphones, computers, and air conditioners.
Intermodal Transport
(5%)
Shipping, rail, and other transport systems supporting global trade and logistics.
Source: Derived from the 2023 Global View Semis End Use Dataset (International Copper Association)
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