Mexico - Copper Wire - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMexico's Copper Wire Import Surges to $1.2B by 2023
Mexico Copper Wire Imports
Copper wire imports into Mexico amounted to 124K tons in 2023, surging by 2.7% against 2022 figures. The total import volume increased at an average annual rate of +1.6% from 2013 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 12%. Over the period under review, imports attained the maximum at 136K tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.
In value terms, copper wire imports stood at $1.2B (IndexBox estimates) in 2023. Over the period under review, total imports indicated a perceptible expansion from 2013 to 2023: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by +80.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 55%. Imports peaked in 2023 and are expected to retain growth in years to come.
| COUNTRY | Import Value of Copper Wire in Mexico (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 776 | 813 | 722 | 653 | 805 | 857 | 801 | 612 | 969 | 1,127 | 1,147 |
| South Korea | 27.1 | 4.3 | 9.1 | 25.4 | 40.7 | 46.1 | 45.2 | 6.1 | 0.5 | 0.7 | 0.9 |
| Others | 28.8 | 60.2 | 34.8 | 19.7 | 30.7 | 36.8 | 34.8 | 35.6 | 45.0 | 39.8 | 33.7 |
| Total | 832 | 877 | 766 | 698 | 877 | 940 | 881 | 654 | 1,015 | 1,168 | 1,182 |
Imports by Country
In 2023, the United States (121K tons) was the main copper wire supplier to Mexico, with a 98% share of total imports. It was followed by South Korea (65 tons), with a 0.1% share of total imports.
From 2013 to 2023, the average annual rate of growth in terms of volume from the United States amounted to +2.0%.
In value terms, the United States ($1.1B) constituted the largest supplier of copper wire to Mexico, comprising 97% of total imports. The second position in the ranking was taken by South Korea ($949K), with a 0.1% share of total imports.
From 2013 to 2023, the average annual growth rate of value from the United States totaled +4.0%.
Imports by Type
In 2023, copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm (117K tons) was the main type of copper wire supplied to Mexico, accounting for a 94% share of total imports. Moreover, copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm exceeded the figures recorded for the second-largest type, copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less (4.3K tons), more than tenfold. Copper; wire, of copper-zinc base alloys (brass) (1.9K tons) ranked third in terms of total imports with a 1.5% share.
From 2013 to 2023, the average annual growth rate of the volume of copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm imports totaled +2.4%. With regard to the other supplied products, the following average annual rates of growth were recorded: copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less (-7.5% per year) and copper; wire, of copper-zinc base alloys (brass) (+3.5% per year).
In value terms, copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm ($1.1B) constituted the largest type of copper wire supplied to Mexico, comprising 90% of total imports. The second position in the ranking was held by copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less ($57M), with a 4.8% share of total imports. It was followed by copper; wire, of copper alloys (other than copper-zinc base alloys, copper-nickel base alloys or copper-nickel-zinc base alloys), with a 2.1% share.
Import Prices by Country
In 2023, the copper wire price stood at $9,510 per ton (CIF, Mexico), approximately reflecting the previous year. Overall, import price indicated a pronounced increase from 2013 to 2023: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, copper wire import price increased by +47.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 39% against the previous year. Over the period under review, average import prices reached the peak figure at $9,647 per ton in 2022, and then declined in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($14,628 per ton), while the price for the United States totaled $9,451 per ton.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (+6.1%).
This report provides an in-depth analysis of the copper wire market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24442330 - Copper wire, refined (transv. section > 6 mm), of copper alloy
- Prodcom 24442350 - Copper wire with cross-sectional dimension > 0,5 mm, . 6 mm (excluding twine or cord reinforced with wire, stranded wire and cables)
- Prodcom 24442370 - Copper wire with cross-sectional dimension . 0,5 mm (excluding twine or cord reinforced with wire, stranded wire and cables)
Country coverage:
- Mexico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Mexico
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
