Global Copper Demand Forecast to Increase to 50 Million Tons by 2035
An analysis by Standard & Poor's Global (S&P Global) found that copper supply shortages could become a major destabilizing factor for international security in the 21st century. "The projected annual shortfall will put unprecedented pressure on the supply chain. The challenges this presents are reminiscent of the 20th-century scramble for oil, but may be accentuated by the greater geographic concentration of copper resources and downstream industries refining them into products." We all know that copper is an essential metal for our lives, how it is developed and how it is used to the point where demand surprisingly exceeds supply, let ZMS cable company's editor bring you some news below. Copper is considered the "electrification metal" and is critical to all energy transition plans. Despite its critical position, the potential supply and demand gap is expected to be very large as the energy transition intensifies. Replacement and recycling wil...