Saudi Arabia: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Saudi Arabia

The Saudi market for copper bars, wire and plates rose rapidly to $X in 2021, surging by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a perceptible slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Copper Bars, Wire And Plates

Exports from Saudi Arabia

In 2021, copper bars, wire and plates exports from Saudi Arabia surged to X tons, rising by 58% against 2020 figures. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 252% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates exports soared to $X in 2021. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of 257% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Egypt (X tons), the United Arab Emirates (X tons) and South Africa (X tons) were the main destinations of copper bars, wire and plates exports from Saudi Arabia, together comprising 79% of total exports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +116.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for copper bars, wire and plates exported from Saudi Arabia were the United Arab Emirates ($X), Egypt ($X) and South Africa ($X), with a combined 76% share of total exports.

In terms of the main countries of destination, Egypt, with a CAGR of +92.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for copper bars, wire and plates stood at $X per ton in 2021, increasing by 9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 17%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Sri Lanka ($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 Germany (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Saudi Arabia

In 2021, overseas purchases of copper bars, wire and plates decreased by -15.2% to X tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 18%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, copper bars, wire and plates imports surged to $X in 2021. Over the period under review, imports continue to indicate a pronounced decrease. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest copper bars, wire and plates supplier to Saudi Arabia, with a 80% share of total imports. Moreover, copper bars, wire and plates imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Egypt (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+0.8% per year) and Germany (-20.1% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper bars, wire and plates to Saudi Arabia, comprising 81% of total imports. The second position in the ranking was held by Egypt ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+2.6% per year) and Germany (-23.6% per year).

Import Prices by Country

The average import price for copper bars, wire and plates stood at $X per ton in 2021, picking up by 49% against the previous year. In general, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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