Good news for the corridors linking Walvis Bay with the Copperbelt is that demand for copper is expected to almost double cumulatively over the next seven years as cities around the world implement smart technologies. Ports traditionally used for the importation of materials and equipment and the export of copper are unlikely to be able to meet the demand, with Walvis Bay well positioned to accommodate any overf low – in addition to the volumes that are already growing on the Walvis Bay-Ndola-Lubumbashi Corridor.A global study, conducted by the Martec Group and commissioned by the International Copper Association (ICA), found that total volume looks set to rise from 2.7 million tons in 2019 to 4.8 million in 2025. Driving the demand will be the development of smart cities around the world. Sectors including transport mobility, energy, infrastructure, and smart buildings all use copper. The study forecasts that copper demand in smart buildings will be a large growth area.Asia and Europe currently lead the world in copper demand for use in smart cities, with 40% and 35% respectively. However, North America is predicted to increase in share from 20% in 2020 to 35% in 2030, making it the leader in copper demand for smart city technology implementation. Asia Pacific’s share will drop to 30%, and that of Europe to 26%, with the rest of the world at 9%. “We expect to see significant technological advancement over the next five years. The energy sector, which is more mature, is expected to remain stable at around 25% of copper demand over the same time period,” said Emily Bielak, project manager at The Martec Group. “This research demonstrates the clear correlation in copper demand with smart city development, across a wide spectrum of applications and geographical regions,” added Colin Bennett, market intelligence director at the International Copper Association.
