Eastern Asia: Copper Wire Market 2024

Copper Wire Market Size in Eastern Asia

In 2021, the East Asian copper wire market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a mild reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Copper Wire Production in Eastern Asia

In value terms, copper wire production rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a slight descent. The pace of growth appeared the most rapid in 2017 with an increase of 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of copper wire, when their volume increased by 9.7% to X tons. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 15%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, copper wire exports surged to $X in 2021. The total export value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern 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, China (X tons) and South Korea (X tons) represented the largest exporters of copper wire in Eastern Asia, together making up 68% of total exports. Japan (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (15%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +17.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 83% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +18.1%, saw 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

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 39% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.8%), while the other leaders experienced more modest paces of growth.

Copper Wire Imports

Imports in Eastern Asia

In 2021, overseas purchases of copper wire increased by 13% to X tons, rising for the second consecutive year after six years of decline. In general, imports, however, continue to indicate a noticeable downturn. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, copper wire imports soared to $X in 2021. Overall, imports, however, saw a perceptible contraction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China represented the largest importing country with an import of around X tons, which resulted at 68% of total imports. Taiwan (Chinese) (X tons) ranks second in terms of the total imports with a 12% share, followed by Japan (8.4%), South Korea (6%) and Hong Kong SAR (5.6%).

Imports into China decreased at an average annual rate of -4.5% from 2012 to 2021. At the same time, Taiwan (Chinese) (+7.7%) and Japan (+5.9%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +7.7% from 2012-2021. By contrast, South Korea (-3.1%) and Hong Kong SAR (-11.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Taiwan (Chinese) and Japan increased by +7.3 and +4.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported copper wire in Eastern Asia, comprising 67% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 11% share of total imports. It was followed by Japan, with a 9.6% share.

In China, copper wire imports plunged by an average annual rate of -2.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.1% per year) and Japan (+7.2% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, picking up by 35% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. 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, major importing countries recorded the following prices: in Japan ($X per ton) and Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform