Ireland: Copper Wire Market 2024

Copper Wire Market Size in Ireland

The Irish copper wire market reduced remarkably to $X in 2021, declining by -19.5% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

Copper Wire Production in Ireland

In value terms, copper wire production reduced notably to $X in 2021 estimated in export price. Overall, production saw a slight decrease. The growth pace was the most rapid in 2020 when the production volume increased by 73%. Copper wire production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports from Ireland

In 2021, approx. X tons of copper wire were exported from Ireland; growing by 134% compared with the previous year. Over the period under review, exports posted resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 275%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, copper wire exports skyrocketed to $X in 2021. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 342% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

The UK (X tons) was the main destination for copper wire exports from Ireland, accounting for a 96% share of total exports. It was followed by Belgium (X tons), with a 2.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+100.1% per year) and China (+19.6% per year).

In value terms, the UK ($X) remains the key foreign market for copper wire exports from Ireland, comprising 93% of total exports. The second position in the ranking was held by Belgium ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK stood at +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+95.0% per year) and China (+22.6% per year).

Export Prices by Country

In 2021, the average copper wire export price amounted to $X per ton, which is down by -22.4% against the previous year. In general, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.0% 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 +30.8% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 75% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.0%), while the prices for the other major destinations experienced mixed trend patterns.

Copper Wire Imports

Imports into Ireland

In 2021, purchases abroad of copper wire decreased by -10.5% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 69%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, copper wire imports surged to $X in 2021. In general, imports, however, showed a buoyant expansion. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest copper wire supplier to Ireland, with a 69% share of total imports. Moreover, copper wire imports from Turkey exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The UK (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+36.8% per year) and the UK (-23.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of copper wire to Ireland, comprising 71% of total imports. The second position in the ranking was held by Germany ($X), with a 9.3% share of total imports. It was followed by the UK, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.1% per year) and the UK (-20.5% per year).

Import Prices by Country

The average copper wire import price stood at $X per ton in 2021, growing by 57% against the previous year. Overall, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 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 the UK ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform