Portugal: Copper Wire Market 2024

Copper Wire Market Size in Portugal

In 2021, the Portuguese copper wire market increased by 33% to $X, rising for the fifth consecutive year after two years of decline. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +88.1% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Copper Wire Production in Portugal

In value terms, copper wire production shrank remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a prominent increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 503% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then contracted notably in the following year.

Copper Wire Exports

Exports from Portugal

In 2021, overseas shipments of copper wire were finally on the rise to reach X tons after two years of decline. Overall, exports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 42% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, copper wire exports skyrocketed to $X in 2021. In general, exports, however, faced a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 45% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), Angola (X tons) and Poland (X tons) were the main destinations of copper wire exports from Portugal, together comprising 89% of total exports. China, Italy, France and Germany lagged somewhat behind, together comprising a further 8.3%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +203.4%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for copper wire exported from Portugal were Spain ($X), Angola ($X) and China ($X), together accounting for 93% of total exports.

China, with a CAGR of +249.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average copper wire export price amounted to $X per ton, picking up by 21% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+15.3%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into Portugal

After two years of decline, supplies from abroad of copper wire increased by 6.5% to X tons in 2021. Over the period under review, imports, however, saw a slight slump. The pace of growth was the most pronounced in 2013 when imports increased by 19% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, copper wire imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest copper wire supplier to Portugal, with a 73% share of total imports. Moreover, copper wire imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. Belgium (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+54.4% per year) and Belgium (-4.8% per year).

In value terms, Spain ($X) constituted the largest supplier of copper wire to Portugal, comprising 75% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by Belgium, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+48.2% per year) and Belgium (-2.0% per year).

Import Prices by Country

The average copper wire import price stood at $X per ton in 2021, jumping by 55% against the previous year. In general, import price indicated a notable expansion 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 import price increased by +42.5% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform