Belgium: Copper Wire Market 2024

Copper Wire Market Size in Belgium

The Belgian copper wire market was estimated at $X in 2021, picking up by 7% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Copper wire consumption peaked in 2021 and is expected to retain growth in the near future.

Copper Wire Production in Belgium

In value terms, copper wire production expanded modestly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 17% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports from Belgium

In 2021, overseas shipments of copper wire increased by 14% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, copper wire exports surged to $X in 2021. In general, total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. 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

The UK (X tons), Romania (X tons) and France (X tons) were the main destinations of copper wire exports from Belgium, together comprising 44% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +203.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper wire exported from Belgium were the UK ($X), Romania ($X) and France ($X), with a combined 44% share of total exports.

In terms of the main countries of destination, Romania, with a CAGR of +189.4%, recorded the highest growth rate of 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 average copper wire export price amounted to $X per ton, increasing by 45% against the previous year. In general, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire export price increased by +48.6% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Austria ($X per ton) and France ($X per ton), while the average price for exports to Morocco ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into Belgium

In 2021, imports of copper wire into Belgium surged to X tons, increasing by 62% against 2020. In general, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +112.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper wire imports soared to $X in 2021. Overall, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, France (X tons) constituted the largest copper wire supplier to Belgium, with a 66% share of total imports. Moreover, copper wire imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from France stood at +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.1% per year) and Spain (+74.8% per year).

In value terms, France ($X), Germany ($X) and Spain ($X) were the largest copper wire suppliers to Belgium, with a combined 94% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +70.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average copper wire import price amounted to $X per ton, declining by -11% against the previous year. In general, the import price saw a pronounced downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 21% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform