Europe: Copper Market 2025

Copper Market Size in Europe

The Europe copper market expanded remarkably to $X in 2022, picking up by 6.7% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 9.5% against the previous year. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Copper Production in Europe

In value terms, copper production totaled $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 28%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Copper Exports

Exports in Europe

In 2022, copper exports in Europe was estimated at X tons, remaining stable against the previous year's figure. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 41%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, copper exports declined to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 72%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, Bulgaria (X tons) represented the key exporter of copper, making up 55% of total exports. It was distantly followed by Spain (X tons), Slovakia (X tons) and Germany (X tons), together making up a 37% share of total exports. Italy (X tons) took a little share of total exports.

Exports from Bulgaria increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Germany (+25.5%) and Italy (+2.9%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in Europe, with a CAGR of +25.5% from 2012-2022. By contrast, Spain (-1.1%) and Slovakia (-4.0%) illustrated a downward trend over the same period. Bulgaria (+25 p.p.) and Germany (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while Spain and Slovakia saw its share reduced by -2.4% and -6.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bulgaria ($X) remains the largest copper supplier in Europe, comprising 62% of total exports. The second position in the ranking was taken by Slovakia ($X), with an 11% share of total exports. It was followed by Spain, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Bulgaria totaled +8.1%. In the other countries, the average annual rates were as follows: Slovakia (-4.6% per year) and Spain (-2.3% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, waning by -7.3% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper export price increased by +44.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 43%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

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 Bulgaria ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+1.5%), while the other leaders experienced more modest paces of growth.

Copper Imports

Imports in Europe

In 2022, purchases abroad of copper increased by 28% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 30%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, copper imports soared to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 60%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Belgium represented the main importer of copper in Europe, with the volume of imports finishing at X tons, which was near 52% of total imports in 2022. It was distantly followed by Germany (X tons) and Austria (X tons), together generating a 36% share of total imports. Poland (X tons) and Spain (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Spain (with a CAGR of +31.4%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Belgium ($X), Germany ($X) and Austria ($X) constituted the countries with the highest levels of imports in 2022, with a combined 88% share of total imports. Poland and Spain lagged somewhat behind, together accounting for a further 7%.

Spain, with a CAGR of +36.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Europe stood at $X per ton in 2022, falling by -3.3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 40%. As a result, import price attained the peak level of $X per ton, and then contracted slightly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Germany ($X per ton) and Spain ($X per ton), while Austria ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform