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An analysis by S&P Global found that insufficient copper supply could be a major destabilizing factor
in international security in the 21st century.
"The projected annual shortage will put unprecedented pressure
on the supply chain.
The challenges 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.
”
Copper is considered an "electrified metal" and is essential
to all energy transition plans.
Despite being critical, the potential supply-demand gap is expected to be "very large"
as the energy transition intensifies.
Substitution and recycling will not be sufficient to meet the demand for
electric vehicles, power infrastructure and renewable energy generation.
In its report, Standard & Poor's warns that "unless significant new supply comes online in time, the goal of achieving net zero emissions by 2050 will not be met and will remain out of reach
.
" ”
According to the company, copper demand is expected to grow from 25 million tonnes today to about 50 million tonnes by 2035, a record high level that will continue to grow to 53 million tonnes
by 2050.
The long-term gap between global copper supply and demand, expected to begin mid-century, will have serious consequences for the global economy and will affect the timing of
net-zero emissions by 2050.
An analysis by S&P Global found that insufficient copper supply could be a major destabilizing factor
in international security in the 21st century.
"The projected annual shortage will put unprecedented pressure
on the supply chain.
The challenges 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.
”
Copper is considered an "electrified metal" and is essential
to all energy transition plans.
Despite being critical, the potential supply-demand gap is expected to be "very large"
as the energy transition intensifies.
Substitution and recycling will not be sufficient to meet the demand for
electric vehicles, power infrastructure and renewable energy generation.
In its report, Standard & Poor's warns that "unless significant new supply comes online in time, the goal of achieving net zero emissions by 2050 will not be met and will remain out of reach
.
" ”
According to the company, copper demand is expected to grow from 25 million tonnes today to about 50 million tonnes by 2035, a record high level that will continue to grow to 53 million tonnes
by 2050.
The long-term gap between global copper supply and demand, expected to begin mid-century, will have serious consequences for the global economy and will affect the timing of
net-zero emissions by 2050.
