NAICS 331421 - Copper Rolling, Drawing, and Extruding
This U.S. industry comprises establishments primarily engaged in (1) rolling, drawing, and/or extruding shapes (e.g., bar, plate, sheet, strip, tube (except bare or insulated copper communication or energy wire), from purchased copper; and/or (2) recovering copper from scrap and rolling, drawing, and/or extruding shapes (e.g., bar, plate, sheet, strip, tube (except bare or insulated copper communication or energy wire, in integrated mills.))
Industry trends:
In the NAICS 331421 industry, which encompasses copper rolling, drawing, and extruding, several qualitative trends are currently shaping the sector. One significant trend is the increasing focus on sustainable practices. Companies in this industry are investing in technologies that reduce energy consumption and enhance recycling processes, driven by the growing demand for environmentally friendly products.
Another emerging trend is the integration of advanced automation and digitalization. This includes the use of AI and IoT technologies to improve operational efficiency, reduce downtime, and optimize production processes. These advancements help in better quality control and predictive maintenance, ensuring consistent output and reducing costs.
Additionally, there's a rising trend towards localized production to mitigate supply chain disruptions. The geopolitical tensions and pandemic-related challenges have prompted companies to consider reshoring and nearshoring strategies to secure their supply chains and reduce dependency on overseas suppliers.
Looking ahead, forecasts suggest that the demand for copper products will continue to grow, driven by the expanding electrical and electronics sectors, particularly with the surge in electric vehicles (EVs) and renewable energy projects. The industry's emphasis on innovation and sustainability will likely lead to continued investment in R&D, aiming at developing new alloys and applications for copper. Consequently, players who adapt to these trends and focus on technological advancements and sustainability will be better positioned for growth in the coming years.
This industry is comprised of:
Bar, copper and copper alloy, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Brass products, rolling, drawing, or extruding, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Bronze products, rolling, drawing, or extruding, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Cartridge cups, discs, and sheets, copper and copper alloy, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Copper foil made from purchased metal or scrap
Copper products (except communication wire, energy wire) made by drawing purchased copper
Copper products (except communication wire, energy wire) made by rolling, drawing, or extruding purchased copper
Copper products (except communication wire, energy wire) made in integrated secondary smelting and extruding mills
Copper products (except communication wire, energy wire) made in integrated secondary smelting mills and drawing plants
Foil, copper, made from purchased metal or scrap
Pipe, extruded and drawn, brass, bronze, and copper, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Plate, copper and copper alloy, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Rod, copper and copper alloy, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Sheet, copper and copper alloy, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Strip, copper and copper alloy, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Tubing, copper and copper alloy, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
Wire, mechanical, copper and copper alloy, made from purchased copper or in integrated secondary smelting and rolling, drawing or extruding plants
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