Turkey: Copper Wire Market 2024

Copper Wire Market Size in Turkey

In 2021, the Turkish copper wire market increased by 46% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a buoyant increase. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Copper Wire Production in Turkey

In value terms, copper wire production soared to $X in 2021 estimated in export price. Over the period under review, production saw a significant increase. Copper wire production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Copper Wire Exports

Exports from Turkey

In 2021, the amount of copper wire exported from Turkey skyrocketed to X tons, rising by 90% against the previous year. Over the period under review, exports recorded resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

Exports by Country

Bulgaria (X tons), Israel (X tons) and Italy (X tons) were the main destinations of copper wire exports from Turkey, with a combined 42% share of total exports. These countries were followed by the UK, the United States, France, Germany, Slovakia, Ireland, Romania, Poland and Austria, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +32.6%), while the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X), Israel ($X) and Italy ($X) constituted the largest markets for copper wire exported from Turkey worldwide, with a combined 41% share of total exports. The UK, the United States, Germany, France, Slovakia, Ireland, Romania, Austria and Poland lagged somewhat behind, together accounting for a further 38%.

Ireland, with a CAGR of +34.0%, recorded the highest growth rate of the value of exports, in terms of 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 2021, the average copper wire export price amounted to $X per ton, surging by 46% against the previous year. In general, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Austria ($X per ton), while the average price for exports to Ireland ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into Turkey

In 2021, overseas purchases of copper wire increased by 103% to X tons, rising for the second year in a row after two years of decline. In general, imports posted notable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, copper wire imports skyrocketed to $X in 2021. Overall, imports showed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), Uzbekistan (X tons) and Iran (X tons) were the main suppliers of copper wire imports to Turkey, with a combined 70% share of total imports. France, Egypt, Spain and Belgium lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +19.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Uzbekistan ($X) and Iran ($X) were the largest copper wire suppliers to Turkey, together comprising 71% of total imports. Egypt, France, Spain and Belgium lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Spain, with a CAGR of +21.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average copper wire import price stood at $X per ton in 2021, jumping by 45% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% 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 +48.8% 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 supplying countries. In 2021, amid the top importers, the countries with the highest prices were Egypt ($X per ton) and Russia ($X per ton), while the price for France ($X per ton) and Belgium ($X per ton) were 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 more modest paces of growth.

Source: IndexBox Platform