MENA: Copper Wire Market 2024

Copper Wire Market Size in MENA

In 2021, the MENA's copper wire market increased by 13% to $X, rising for the fifth consecutive year after two years of decline. The market value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Copper Wire Production in MENA

In value terms, copper wire production skyrocketed to $X in 2021 estimated in export price. In general, production recorded a buoyant expansion. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Copper Wire Exports

Exports in MENA

In 2021, approx. X tons of copper wire were exported in MENA; with an increase of 19% against 2020. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 95%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, copper wire exports soared to $X in 2021. Overall, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 82%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

The United Arab Emirates represented the major exporting country with an export of around X tons, which accounted for 56% of total exports. Turkey (X tons) took a 30% share (based on physical terms) of total exports, which put it in second place, followed by Egypt (9.4%). Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Egypt (with a CAGR of +28.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Egypt ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 96% of total exports.

Egypt, with a CAGR of +29.7%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, with an increase of 44% against the previous year. Export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire export price increased by +54.5% against 2019 indices. As a result, the export price attained 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 ($X per ton) and Turkey ($X per ton), while Iran ($X per ton) and Egypt ($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 (+2.1%), while the other leaders experienced more modest paces of growth.

Copper Wire Imports

Imports in MENA

In 2021, copper wire imports in MENA soared to X tons, with an increase of 24% on 2020. The total import volume increased at an average annual rate of +6.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 32%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, copper wire imports surged to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of copper wire imports in 2021 were Saudi Arabia (X tons), Turkey (X tons), Morocco (X tons), Kuwait (X tons), Tunisia (X tons), Qatar (X tons) and Oman (X tons), together resulting at 90% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +36.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Saudi Arabia ($X) and Morocco ($X) constituted the countries with the highest levels of imports in 2021, with a combined 56% share of total imports. These countries were followed by Kuwait, Tunisia, Qatar and Oman, which together accounted for a further 33%.

In terms of the main importing countries, Oman, with a CAGR of +39.3%, saw the highest growth rate of the value of imports, 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 2021, jumping by 45% against the previous year. Import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire import price increased by +47.7% 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 noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Turkey ($X per ton) and Morocco ($X per ton), while Kuwait ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform