A new Asia snapshot says copper demand expected to rise sharply by 2030 as the region continues to grow.
Some of the biggest copper demand will come from Asia’s continued population growth, rapid urbanization and high economic growth, particularly in India and China.
But sectors like transport, energy, housing and appliances will also push demand as they increasingly embrace innovative technologies like decarbonization, clean power, green cars, and energy efficiency.
Hybrid, electric & autonomous vehicles, energy efficient homes and gadgets, modernized electricity grids, and power from renewables like solar and wind will all rely on copper for reliability and performance.
The Roadmap suggests some sectors will see huge changes:
· Asia will be 36% of global economy by 2030
· Asia urbanization will hit 72% for half the region by 2050
· 43% of world electricity demand will come from Asia by 2035
· China & India expected to double electricity generation by 2030
· Asia to see $11T infrastructure investment by 2030
· 75M electric & hybrid cars made in Asia by 2030
· Asia will have 1.4M electric buses by 2030
China, already the world’s biggest consumer of copper, will continue to drive demand as China’s Thirteenth Five-Year Plan shows wind, solar and electric vehicles producing 3.9% of GDP by 2030.
The Roadmap was produced by the Warren Centre at Sydney University:
http://thewarrencentre.org.au/asian-wealth-urbanisation-drive-future-copper/