Australia and Oceania: Copper Wire Market 2024

Copper Wire Market Size in Australia and Oceania

In 2021, the copper wire market in Australia and Oceania was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a perceptible contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Copper Wire Production in Australia and Oceania

In value terms, copper wire production rose slightly to $X in 2021 estimated in export price. In general, production showed a abrupt downturn. The growth pace was the most rapid in 2018 when the production volume increased by 21%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Copper Wire Exports

Exports in Australia and Oceania

In 2021, overseas shipments of copper wire decreased by -12.8% to X tons, falling for the second year in a row after five years of growth. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 99%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, copper wire exports declined to $X in 2021. Overall, exports faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 120% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Australia prevails in exports structure, resulting at X tons, which was approx. 97% of total exports in 2021. New Zealand (X tons) took a minor share of total exports.

Australia was also the fastest-growing in terms of the copper wire exports, with a CAGR of -13.0% from 2012 to 2021. New Zealand (-13.4%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest copper wire supplier in Australia and Oceania, comprising 95% of total exports. The second position in the ranking was held by New Zealand ($X), with a 5.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia stood at -19.6%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2018 an increase of 25% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+3.8%).

Copper Wire Imports

Imports in Australia and Oceania

After three years of decline, overseas purchases of copper wire increased by 5.6% to X tons in 2021. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 335% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, copper wire imports soared to $X in 2021. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 314% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

Australia prevails in imports structure, reaching X tons, which was near 95% of total imports in 2021. The following importers - New Zealand (X tons) and Fiji (X tons) - each finished at a 4.2% share of total imports.

Imports into Australia increased at an average annual rate of +49.3% from 2012 to 2021. At the same time, Fiji (+66.3%) and New Zealand (+3.5%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +66.3% from 2012-2021. Australia (+36 p.p.) significantly strengthened its position in terms of the total imports, while New Zealand saw its share reduced by -35.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported copper wire in Australia and Oceania, comprising 95% of total imports. The second position in the ranking was held by New Zealand ($X), with a 2.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Australia amounted to +52.4%. In the other countries, the average annual rates were as follows: New Zealand (+5.0% per year) and Fiji (+71.7% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2021, rising by 45% against the previous year. Import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.4% 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 import price increased by +37.1% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Fiji (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform