GCC: Copper Chain Market 2025

Copper Chain Market Size in GCC

The GCC copper chain market soared to $X in 2022, rising by 17% against the previous year. Overall, consumption showed a slight expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Copper Chain Production in GCC

In value terms, copper chain production fell modestly to $X in 2022 estimated in export price. In general, production posted modest growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 160%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Copper Chain Exports

Exports in GCC

Copper chain exports was estimated at X tons in 2022, growing by 13% compared with the previous year. In general, exports, however, showed a perceptible decline. The growth pace was the most rapid in 2017 with an increase of 497%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, copper chain exports dropped slightly to $X in 2022. Over the period under review, exports, however, saw a pronounced downturn. The growth pace was the most rapid in 2017 when exports increased by 736% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X tons, which was near 97% of total exports in 2022. Bahrain (X kg) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the chain and parts thereof of copper exports, with a CAGR of -1.2% from 2012 to 2022. Bahrain (-8.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by +9.5 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest copper chain supplier in GCC, comprising 92% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 7.7% share of total exports.

In the United Arab Emirates, copper chain exports decreased by an average annual rate of -1.8% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, dropping by -12.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by 169% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+1.1%).

Copper Chain Imports

Imports in GCC

In 2022, the amount of chain and parts thereof of copper imported in GCC surged to X tons, rising by 22% compared with 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 112% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, copper chain imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a noticeable descent. The growth pace was the most rapid in 2020 with an increase of 81% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia prevails in imports structure, accounting for X tons, which was approx. 92% of total imports in 2022. The following importers - the United Arab Emirates (X tons), Kuwait (X tons) and Oman (X tons) - together made up 7.7% of total imports.

Saudi Arabia was also the fastest-growing in terms of the chain and parts thereof of copper imports, with a CAGR of +24.8% from 2012 to 2022. Kuwait (-10.6%), Oman (-20.8%) and the United Arab Emirates (-25.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia increased by +82 percentage points.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported chain and parts thereof of copper in GCC, comprising 78% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Kuwait, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled +19.4%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-16.9% per year) and Kuwait (-4.4% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price continues to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2019 an increase of 42%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform