Copper Revolution: Powering the EV Era!
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The transition from conventional energy usage to clean energy, aiming for net zero, has spurred significant global investment, particularly in renewable energy and Battery Electric Vehicles (BEVs). One of the growing challenges discussed is the increased demand for copper. In Thailand, the primary demand for copper comes from three main industries: construction, electronics, and automotive. The government has implemented measures to push the battery electric vehicle industry, leading to an upward trend in Thailand's copper demand. Currently, Thailand's copper industry only consists of midstream and downstream producers, causing production costs to depend on the global copper market.
This trend may result in challenges for businesses reliant on copper as a raw material, including fluctuating raw material prices and supply shortages. Industries using copper should prepare to adapt to potential increases in copper costs and strategize copper procurement considering supply risks and price fluctuations, aiming to mitigate business impacts and maintain competitiveness. Which the future, investing in the recycling business of old copper scraps in Thailand and utilizing old copper scraps for domestic production instead of exports could become a significant sector for the country. This move could help maintain the country's potential and competitiveness in automotive and electronic manufacturing, as well as contribute to creating a closed-loop system for using secondary copper in line with Circular Economy policies.
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