Thailand: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Thailand

The Thai market for copper bars, rods and profiles was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, consumption, however, showed a pronounced decline. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Copper Bars, Rods and Profiles in Thailand

In value terms, copper bar, rod and profile production declined to $X in 2022 estimated in export price. In general, production, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 34%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Thailand

In 2022, overseas shipments of copper bars, rods and profiles decreased by -29.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 37% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted notably in the following year.

In value terms, copper bar, rod and profile exports declined remarkably to $X in 2022. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 46%. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

China (X tons) was the main destination for copper bar, rod and profile exports from Thailand, with a 33% share of total exports. Moreover, copper bar, rod and profile exports to China exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was held by India (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +34.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+4.8% per year) and India (+10.5% per year).

In value terms, Japan ($X), India ($X) and China ($X) appeared to be the largest markets for copper bar, rod and profile exported from Thailand worldwide, with a combined 52% share of total exports.

China, with a CAGR of +32.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for copper bars, rods and profiles amounted to $X per ton, dropping by -8.6% against the previous year. In general, the export price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by 38%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Thailand

Copper bar, rod and profile imports into Thailand totaled X tons in 2022, increasing by 10% compared with 2021. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, copper bar, rod and profile imports expanded remarkably to $X in 2022. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 48%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of copper bar, rod and profile to Thailand, accounting for a 57% share of total imports. Moreover, copper bar, rod and profile imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.7% per year) and Japan (-5.1% per year).

In value terms, South Korea ($X) constituted the largest supplier of copper bars, rods and profiles to Thailand, comprising 48% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Japan, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.8% per year) and Japan (-4.5% per year).

Import Prices by Country

In 2022, the average import price for copper bars, rods and profiles amounted to $X per ton, increasing by 2.1% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bar, rod and profile import price increased by +54.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 51% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :