ASEAN: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in ASEAN

In 2022, the ASEAN market for copper bars, rods and profiles was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Copper Bars, Rods and Profiles in ASEAN

In value terms, copper bar, rod and profile production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 33% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Copper Bars, Rods and Profiles

Exports in ASEAN

In 2022, after two years of growth, there was significant decline in overseas shipments of copper bars, rods and profiles, when their volume decreased by -14.1% to X tons. The total export volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 47% against the previous year. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, copper bar, rod and profile exports declined dramatically to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 47%. As a result, the exports reached the peak of $X, and then shrank sharply in the following year.

Exports by Country

In 2022, Malaysia (X tons) represented the largest exporter of copper bars, rods and profiles, constituting 58% of total exports. Thailand (X tons) took the second position in the ranking, distantly followed by Indonesia (X tons). All these countries together held near 40% share of total exports.

Malaysia was also the fastest-growing in terms of the copper bars, rods and profiles exports, with a CAGR of +5.2% from 2012 to 2022. Thailand and Indonesia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Malaysia increased by +13 percentage points.

In value terms, Malaysia ($X), Thailand ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 97% of total exports.

Among the main exporting countries, Indonesia, with a CAGR of +3.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, shrinking by -5.2% against the previous year. Overall, the export price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 when the export price increased by 33% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.4%), while the other leaders experienced a decline in the export price figures.

Imports of Copper Bars, Rods and Profiles

Imports in ASEAN

In 2022, purchases abroad of copper bars, rods and profiles increased by 15% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2016 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports totaled $X in 2022. Overall, imports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of 39%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The Philippines (X tons), Thailand (X tons), Vietnam (X tons), Singapore (X tons), Malaysia (X tons) and Indonesia (X tons) represented roughly 100% of total imports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +9.6%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Thailand ($X), the Philippines ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined 60% share of total imports. Vietnam, Indonesia and Malaysia lagged somewhat behind, together accounting for a further 39%.

Vietnam, with a CAGR of +7.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, declining by -4.5% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile import price increased by +17.1% against 2018 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 32%. As a result, import price reached the peak level of $X per ton, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform