EV Transition Drives Global Copper Supply Crunch

Research consultant Vipin Benny warns that accelerating EV adoption has driven copper consumption from about 27,500 tonnes in 2015 to an estimated 1.28 million tonnes by 2025, while EV sales rose from 0.55 million to roughly 20 million units. Projected supply constraints could produce a structural deficit as early as 2026 (demand ~30 million tonnes vs supply ~28 million tonnes), risking higher EV costs and slower infrastructure rollout.