The New Clean Age of Copper

It has been aptly described “as the metal of the past and of the future”, given its extraordinary characteristics and its manifold uses in different industrial applications through ages, and its huge prospects for reinvention in the future. High electrical and thermal conductivities, strong resistance to corrosion, good ductility and malleability, formidable strength, reduced magnetism, and a pleasing red colour gives copper its eminent position in the periodic table of metals. Not to forget that the metal and its alloys can be joined easily by welding and soldering.

For decades the pattern of copper consumption has remained mostly static. It was, and still is, used mostly in electrical and electronic products, building construction, consumer products, transportation, and industrial equipment. Copper wires, bars, sections, tubes, coins and ornaments have been bestselling items for years.

Its alloys, too, has found manifold uses in different industries for its characteristic qualities. Copper-nickel alloy, also called cupronickel, is applied “to the hulls of ships because it does not corrode in seawater and reduces the adhesion of marine life, such as barnacles, thereby reducing drag and increasing fuel efficiency.” Similarly, brass, an alloy of copper and zinc is used in a variety of musical instruments, including trumpets, trombones, bells, cymbals and for doorknobs because of the alloy’s antimicrobial properties.

The Rise of New Industries

The copper-intensive conventional industries are now giving way to a host of new industries with higher copper intensity as the world transits towards a low-carbon future and focuses on sustainable development to escape the dangers of climate change.  However, the pace of such transition will depend on the increasing use of copper in renewable energy and other sustainable technologies in sectors such as housing, transportation, electrification, and appliances, which underpins global economic growth and human development.

For instance, photovoltaics cell used for generating solar power requires 11–40 times more copper per unit of electricity generated than conventional fossil generation, which in turn, will drive additional copper demand\ as different climate mitigation scenarios emerge. Similarly, wind energy would require 5,000 to 14,900 pounds per megawatt of copper because the metal is a critical component of wind turbines and in various cables used in the grounding systems that protect turbines from lightning strikes.  Offshore wind farms will require even more copper.

The proliferation of EVs and their charging stations will make it the largest consumers of copper in the future, say experts. While the vehicle of an internal combustion engine requires only 23 kgs of copper, a hybrid electric vehicle (HEV) requires 40 kg, a plug-in hybrid vehicle (PHEV) 60 kgs, and a battery operated one vehicle will require 83 kgs.

Modernizing and expanding power grids to accommodate more clean energy into the total energy basket will further amplify copper requirements. While energy storage covers a wide range of technologies, with many still in the experimentation stage, copper demand is expected to range between 0.3 to 4 tons per megawatt for different energy storage applications.

Simply put, regardless of the size of the renewable energy, technologies require nearly two to six times the copper per megawatt of new capacity compared to fossil fuel or nuclear energy. Hence, the  global drive towards net-zero carbon emissions hinges on widespread electrification—replacing fossil fuels with renewable energy systems and electrified infrastructure which demands vast amounts of copper. According to projections by S&P Global, U.S. copper demand is expected to double by 2035, (4) 

The introduction of a low-carbon copper market is a pivotal point within the copper industry because it focuses on eco-consciousness, sustainability, environmental responsibility, significant reductions in carbon emissions and waste generation. For copper, therefore clean energy is the new frontier and lead the great consumption drive. The clean energy sector currently consumes 25% of global copper demand, and this figure is projected to move higher to 61% by 2040, given the world’s growing reliance on wind, solar and electric vehicles, despite the occasional hiccups.