Global demand for copper in climate-based commercial building retrofitting is forecast to grow from 40KT in 2020 to 160KT by 2035, a 9.9 percent Compound Annual Growth Rate (CAGR) according to new research commissioned by the International Copper Association (ICA). The study, conducted by the Building Services Research and Information Association (BRSIA), shows that as the global climate continues to change, and we experience more extreme weather, demand for climate-based retrofitting such as air conditioning (AC) installation, heating/heat pumps, and renewable energy systems is set to rise, driving demand for copper.
One of the many benefits of copper is its ability to facilitate the efficient delivery of electricity and cooling. Copper thus remains the preferred material for heat exchangers, wiring and motors, and an essential component for climate retrofitting. By application, AC (75KT Cu in 2035) and Heating/Heat Pumps (35KT Cu in 2035) will provide the largest contribution in growing demand for copper, with renewables having the highest CAGR (19.7 percent).
KEFI Minerals plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.