MENA: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in MENA

The MENA's market for copper bars, wire and plates surged to $X in 2021, jumping by 16% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Copper Bars, Wire And Plates in MENA

In value terms, copper bars, wire and plates production soared to $X in 2021 estimated in export price. Overall, production recorded buoyant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 63% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Copper Bars, Wire And Plates

Exports in MENA

In 2021, shipments abroad of copper bars, wire and plates was finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +5.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 39% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, copper bars, wire and plates exports skyrocketed to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, 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

The United Arab Emirates was the largest exporting country with an export of about X tons, which resulted at 58% of total exports. Turkey (X tons) held the second position in the ranking, distantly followed by Egypt (X tons). All these countries together held near 37% share of total exports. Iran (X tons) took a minor share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the copper bars, wire and plates exports, with a CAGR of +7.5% from 2012 to 2021. At the same time, Turkey (+6.6%) and Iran (+6.2%) displayed positive paces of growth. By contrast, Egypt (-1.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Turkey increased by +9.1 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest copper bars, wire and plates supplier in MENA, comprising 59% of total exports. The second position in the ranking was held by Turkey ($X), with a 27% share of total exports. It was followed by Egypt, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +9.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+8.4% per year) and Egypt (-2.0% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, rising by 43% against the previous year. Export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% 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 bars, wire and plates export price increased by +52.6% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Egypt ($X per ton), while Iran ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.2%), while the other leaders experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports in MENA

In 2021, copper bars, wire and plates imports in MENA was estimated at X tons, growing by 2.5% on 2020. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 13%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, copper bars, wire and plates imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons), Turkey (X tons) and Morocco (X tons) represented the major importer of copper bars, wire and plates in MENA, making up 55% of total import. Tunisia (X tons) ranks next in terms of the total imports with a 9.1% share, followed by Qatar (8.2%) and Oman (7.7%). Kuwait (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and Morocco ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 56% of total imports. These countries were followed by Tunisia, Qatar, Oman and Kuwait, which together accounted for a further 28%.

Qatar, with a CAGR of +10.2%, 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

In 2021, the import price in MENA amounted to $X per ton, rising by 43% against the previous year. Import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.1% 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 bars, wire and plates import price increased by +43.8% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Turkey ($X per ton) and Qatar ($X per ton), while Kuwait ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform