MENA: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in MENA

The MENA's market for copper bars, rods and profiles declined to $X in 2022, falling by -13.2% against the previous year. In general, consumption saw a pronounced shrinkage. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Copper Bars, Rods and Profiles in MENA

In value terms, copper bar, rod and profile production contracted sharply to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a temperate increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 92% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Copper Bars, Rods and Profiles

Exports in MENA

In 2022, overseas shipments of copper bars, rods and profiles increased by 11% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports, however, saw a pronounced setback. The growth pace was the most rapid in 2013 with an increase of 36%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, copper bar, rod and profile exports rose remarkably to $X in 2022. In general, exports, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 56% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey represented the major exporting country with an export of around X tons, which resulted at 57% of total exports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 35% share of total exports. Iran (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Iran (with a CAGR of +16.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest copper bar, rod and profile supplying countries in MENA were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), together accounting for 95% of total exports.

Among the main exporting countries, Iran, with a CAGR of +14.1%, saw 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 2022, the export price in MENA amounted to $X per ton, with an increase of 2.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 68% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Turkey ($X per ton) and Saudi Arabia ($X per ton), while Iran ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Copper Bars, Rods and Profiles

Imports in MENA

In 2022, purchases abroad of copper bars, rods and profiles decreased by -19.3% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2019 with an increase of 36% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, copper bar, rod and profile imports contracted notably to $X in 2022. Overall, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the six major importers of copper bars, rods and profiles, namely Turkey, the United Arab Emirates, Egypt, Saudi Arabia, Tunisia and Morocco, represented more than two-thirds of total import. It was distantly followed by Israel (X tons), generating a 4.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +8.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Egypt ($X) were the countries with the highest levels of imports in 2022, with a combined 57% share of total imports.

Turkey, with a CAGR of +9.8%, saw the highest growth rate of the value of imports, in terms of 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 MENA stood at $X per ton in 2022, surging by 1.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 34%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform