Global copper demand is projected to rise from 30 million tonnes to approximately 50 million tonnes over the next 25 years, according to an analyst at BloombergNEF, as electric vehicles, renewable energy infrastructure, and global decarbonization efforts drive unprecedented consumption. The imbalance between supply and demand has already pushed prices to record highs.
- Copper demand projected to rise from 30 million tonnes to 50 million tonnes by 2050.
- Supply growth is expected to lag behind demand, creating a structural deficit.
- Copper prices reached a record high in December 2025 amid Chinese stimulus and U.S. stockpiling.
- Electric vehicles and renewable energy infrastructure are primary drivers of demand growth.
- Mining expansion faces delays due to long project lead times and environmental regulations.
- Global supply chain resilience is under strain, affecting industries reliant on copper.
Copper demand is on a trajectory to nearly double, reaching an estimated 50 million tonnes by 2050, up from 30 million tonnes today, driven by the rapid expansion of clean energy systems and electrification across transportation and power grids. This surge is expected to strain the mining sector's ability to scale production, with existing infrastructure and project lead times insufficient to meet growing needs. The analyst, Kwasi Ampofo, emphasized that the timing and pace of new mine development will be critical in avoiding supply bottlenecks. The imbalance has already materialized in market behavior: copper prices hit a record high in early December 2025, fueled by China's recent stimulus packages and increased inventory builds in the United States. These developments reflect heightened concern over tight global supply, despite current production levels being near capacity. The momentum suggests that future price volatility is likely if investment in exploration and mining expansion does not accelerate. The implications span multiple industries, from automotive manufacturers relying on copper for electric vehicle motors and batteries to utilities upgrading grids with copper-intensive components. Countries with significant mineral reserves, such as Chile, Peru, and the Democratic Republic of the Congo, may see increased investment, but regulatory hurdles and environmental constraints could delay output. Meanwhile, battery producers and infrastructure developers face rising input costs that could affect project timelines and profitability.