Middle East: Copper Wire Market 2024

Copper Wire Market Size in the Middle East

In 2021, the Middle Eastern copper wire market increased by 18% to $X, rising for the fifth year in a row after two years of decline. The market value increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Copper Wire Production in the Middle East

In value terms, copper wire production surged to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent increase. 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 the Middle East

Copper wire exports was estimated at X tons in 2021, increasing by 14% compared with 2020. In general, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by 94%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, copper wire exports surged to $X in 2021. Over the period under review, exports posted a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 81% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates was the main exporting country with an export of around X tons, which amounted to 62% of total exports. It was distantly followed by Turkey (X tons), generating a 33% share of total exports. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +20.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest copper wire supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Iran ($X), with a combined 98% share of total exports.

The United Arab Emirates, with a CAGR of +23.4%, recorded the highest growth rate of the value of exports, among 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 the Middle East stood at $X per ton in 2021, picking up by 44% against the previous year. Export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.2% 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 +54.2% 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, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($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 United Arab Emirates (+2.1%), while the other leaders experienced more modest paces of growth.

Copper Wire Imports

Imports in the Middle East

In 2021, after two years of decline, there was significant growth in purchases abroad of copper wire, when their volume increased by 22% to X tons. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 49%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, copper wire imports soared to $X in 2021. Overall, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Saudi Arabia (X tons) and Turkey (X tons) were the major importers of copper wire in the Middle East, together creating 56% of total imports. It was distantly followed by Kuwait (X tons), Qatar (X tons) and Oman (X tons), together creating a 35% share of total imports. The following importers - Jordan (X tons) and Israel (X tons) - each amounted to a 6% share of total imports.

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 Kuwait ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 69% of total imports. These countries were followed by Qatar, Oman, Jordan and Israel, which together accounted for a further 28%.

Oman, with a CAGR of +39.3%, 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 the Middle East amounted to $X per ton, jumping by 45% against the previous year. Import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% 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 +48.3% 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 Israel ($X per ton) and Jordan ($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