Middle East: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in the Middle East

The Middle Eastern market for copper bars, rods and profiles shrank to $X in 2022, waning by -13.5% against the previous year. Overall, consumption recorded a perceptible decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Copper Bars, Rods and Profiles in the Middle East

In value terms, copper bar, rod and profile production fell markedly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a tangible expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 94%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Copper Bars, Rods and Profiles

Exports in the Middle East

In 2022, approx. X tons of copper bars, rods and profiles were exported in the Middle East; with an increase of 10% against 2021 figures. Over the period under review, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2013 with an increase of 37%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, copper bar, rod and profile exports expanded remarkably to $X in 2022. Overall, exports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2021 when exports increased by 57%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X tons) represented the largest exporter of copper bars, rods and profiles, creating 58% of total exports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 36% share of total exports. Iran (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +16.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest copper bar, rod and profile supplying countries in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), together accounting for 96% of total exports.

Iran, with a CAGR of +14.1%, recorded the highest rates of growth with regard to 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

In 2022, the export price in the Middle East amounted to $X per ton, picking up by 2.8% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 69%. The level of export peaked 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 the Middle East

In 2022, approx. X tons of copper bars, rods and profiles were imported in the Middle East; with a decrease of -26% compared with the previous year's figure. In general, imports showed a abrupt decline. The growth pace was the most rapid in 2019 with an increase of 18%. 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 reduced dramatically to $X in 2022. Over the period under review, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 39%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) represented roughly 60% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), Israel (X tons), Oman (X tons) and Kuwait (X tons), together creating a 31% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +8.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 70% of total imports.

In terms of the main importing countries, Turkey, with a CAGR of +9.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 32% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :