Asia-Pacific: Copper Market 2025

Copper Market Size in Asia-Pacific

In 2022, the Asia-Pacific copper market increased by 1.4% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Copper Production in Asia-Pacific

In value terms, copper production fell to $X in 2022 estimated in export price. In general, production, however, showed modest growth. The pace of growth appeared the most rapid in 2018 with an increase of 118%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Copper Exports

Exports in Asia-Pacific

In 2022, after three years of growth, there was significant decline in shipments abroad of copper, when their volume decreased by -8.9% to X tons. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 220% against the previous year. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, copper exports dropped to $X in 2022. Over the period under review, exports, however, posted a significant increase. The growth pace was the most rapid in 2020 when exports increased by 290%. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

South Korea was the key exporter of copper in Asia-Pacific, with the volume of exports recording X tons, which was approx. 53% of total exports in 2022. It was distantly followed by Pakistan (X tons), Cambodia (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons), together making up a 37% share of total exports. The following exporters - the Philippines (X tons) and Singapore (X tons) - together made up 6.7% of total exports.

Exports from South Korea increased at an average annual rate of +46.7% from 2012 to 2022. At the same time, Pakistan (+101.1%), the Philippines (+84.4%), Thailand (+79.6%), Singapore (+13.0%), Taiwan (Chinese) (+11.4%) and Cambodia (+9.6%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +101.1% from 2012-2022. While the share of South Korea (+38 p.p.), Pakistan (+21 p.p.), Cambodia (+6.1 p.p.), Thailand (+4.9 p.p.) and the Philippines (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-7 p.p.) and Taiwan (Chinese) (-17.6 p.p.) displayed negative dynamics.

In value terms, South Korea ($X) remains the largest copper supplier in Asia-Pacific, comprising 57% of total exports. The second position in the ranking was held by Pakistan ($X), with a 22% share of total exports. It was followed by Cambodia, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value in South Korea stood at +54.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (+111.9% per year) and Cambodia (+25.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by 2.8% against the previous year. Overall, the export price showed a perceptible expansion. The pace of growth was the most pronounced in 2013 when the export price increased by 77% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+14.8%), while the other leaders experienced more modest paces of growth.

Copper Imports

Imports in Asia-Pacific

In 2022, copper imports in Asia-Pacific soared to X tons, rising by 19% on 2021. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 34%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, copper imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 38%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) represented the major importer of copper, generating 80% of total imports. It was distantly followed by India (X tons), generating a 15% share of total imports. South Korea (X tons) held a little share of total imports.

Imports into China increased at an average annual rate of +8.4% from 2012 to 2022. At the same time, India (+22.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +22.7% from 2012-2022. By contrast, South Korea (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and China increased by +11 and +6.1 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported copper in Asia-Pacific, comprising 81% of total imports. The second position in the ranking was held by India ($X), with a 16% share of total imports.

In China, copper imports increased at an average annual rate of +9.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (+23.9% per year) and South Korea (-4.1% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, shrinking by -2% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 42%. As a result, import price reached the peak level of $X per ton, and then contracted modestly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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