Asia: Copper Wire Market 2024

Copper Wire Market Size in Asia

In 2021, the Asian copper wire market increased by 3.4% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Copper Wire Production in Asia

In value terms, copper wire production expanded notably to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports in Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of copper wire, when their volume increased by 22% to X tons. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 26% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, copper wire exports soared to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the United Arab Emirates (X tons), distantly followed by Turkey (X tons), Malaysia (X tons), Thailand (X tons), China (X tons), Indonesia (X tons) and South Korea (X tons) were the key exporters of copper wire, together creating 80% of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +37.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest copper wire supplying countries in Asia were the United Arab Emirates ($X), Turkey ($X) and Malaysia ($X), together comprising 49% of total exports. Thailand, China, Indonesia and South Korea lagged somewhat behind, together accounting for a further 30%.

Among the main exporting countries, Thailand, with a CAGR of +39.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, jumping by 40% against the previous year. Export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire export price increased by +38.6% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Turkey ($X per ton), while Malaysia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.1%), while the other leaders experienced more modest paces of growth.

Copper Wire Imports

Imports in Asia

In 2021, overseas purchases of copper wire were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, copper wire imports surged to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), China (X tons), Saudi Arabia (X tons), Turkey (X tons), Vietnam (X tons), Thailand (X tons), the Philippines (X tons), Kuwait (X tons), Qatar (X tons), Oman (X tons), Malaysia (X tons) and Singapore (X tons) represented roughly 85% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +36.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper wire importing markets in Asia were China ($X), Turkey ($X) and India ($X), with a combined 34% share of total imports. These countries were followed by Saudi Arabia, Vietnam, Thailand, the Philippines, Kuwait, Qatar, Oman, Malaysia and Singapore, which together accounted for a further 50%.

Among the main importing countries, Oman, with a CAGR of +39.3%, saw the highest growth rate of the value of imports, 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 Asia stood at $X per ton in 2021, jumping by 39% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Thailand ($X per ton), while the Philippines ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform