Total volume of copper in smart city technology to nearly double by 2025.
New research, commissioned by ICA, revealed copper is the material of choice for smart city technology, thanks to its unique conductive properties that lead to enhanced efficiency. As the adoption of new copper-based technologies increases, forecasts show copper demand in smart buildings will be a large growth area.
The global study, conducted by the Martec Group, found that total volume of copper in smart city technology is predicted to rise from 2.7 million tonnes in 2019 to 4.8 million tonnes in 2025.
“Our research shows that the deployment of smart city technology will lead to a rise in copper demand. The building and mobility sectors have the highest growth potential as we expect to see significant technological advancement over the next five years. The energy sector, which is more mature, is expected to remain stable at around 25 percent of copper demand over the same time period,” says Emily Bielak, Project Manager at The Martec Group.
Asia and Europe currently lead the world in copper demand for use in smart cities, with 40 percent and 35 percent respectively. However, North America is predicted to increase in share from 20 percent in 2020 to 35 percent in 2030, making it the future leader in copper demand for smart city technology implementation.
To learn more about copper demand in smart city growth, check out the Martec presentation (watch on-demand in English or Mandarin)