Report Update Nov 1, 2024

Turkey - Copper - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Copper Market 2024

Copper Market Size in Turkey

The Turkish copper market declined to $X in 2022, waning by -4.1% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Copper Production in Turkey

In value terms, copper production declined to $X in 2022 estimated in export price. In general, production showed a mild decrease. The pace of growth was the most pronounced in 2017 with an increase of 198%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Copper Exports

Exports from Turkey

In 2022, after three years of growth, there was significant decline in shipments abroad of copper, when their volume decreased by -95.9% to X tons. In general, exports recorded a precipitous shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 705% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, copper exports shrank remarkably to $X in 2022. Over the period under review, exports continue to indicate a precipitous slump. The growth pace was the most rapid in 2020 with an increase of 376% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Georgia (X tons), Marshall Islands (X kg) and Liberia (X kg) were the main destinations of copper exports from Turkey, with a combined 59% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Marshall Islands (with a CAGR of +86.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Liberia ($X), Georgia ($X) and Marshall Islands ($X) were the largest markets for copper exported from Turkey worldwide, with a combined 59% share of total exports.

In terms of the main countries of destination, Marshall Islands, with a CAGR of +56.3%, saw the highest growth rate of 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 copper export price stood at $X per ton in 2022, rising by 149% against the previous year. Overall, the export price enjoyed a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Liberia ($X per ton), while the average price for exports to Algeria ($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 Belgium (+37.9%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Imports

Imports into Turkey

For the third year in a row, Turkey recorded decline in purchases abroad of copper, which decreased by -72.9% to X tons in 2022. In general, imports faced a precipitous decrease. The pace of growth was the most pronounced in 2019 with an increase of 9,497% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, copper imports declined notably to $X in 2022. Overall, imports showed a sharp decrease. The pace of growth was the most pronounced in 2019 when imports increased by 2,788%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Azerbaijan (X tons) constituted the largest copper supplier to Turkey, accounting for a 64% share of total imports. Moreover, copper imports from Azerbaijan exceeded the figures recorded by the second-largest supplier, Finland (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from Azerbaijan totaled -22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+4.1% per year) and the UK (+15.9% per year).

In value terms, the largest copper suppliers to Turkey were Azerbaijan ($X), Finland ($X) and the UK ($X), with a combined 86% share of total imports.

In terms of the main suppliers, the UK, with a CAGR of +17.0%, saw 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

In 2022, the average copper import price amounted to $X per ton, jumping by 17% against the previous year. In general, the import price recorded measured growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 152%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for copper in the world?

Chile remains the largest copper consuming country worldwide, comprising approx. 25% of total volume. Moreover, copper consumption in Chile exceeded the figures recorded by the second-largest consumer, China, twofold. Peru ranked third in terms of total consumption with an 11% share.

What are the largest producers of copper in the world?

Chile constituted the country with the largest volume of copper production, comprising approx. 27% of total volume. Moreover, copper production in Chile exceeded the figures recorded by the second-largest producer, Peru, twofold. China ranked third in terms of total production with an 8% share.

What are the leading suppliers of copper to Turkey?

In value terms, Azerbaijan constituted the largest supplier of copper to Turkey, comprising 77% of total imports. The second position in the ranking was occupied by Finland, with an 11% share of total imports.

What is the average export price for copper in Turkey?

The average copper export price stood at $6,749 per ton in 2021, picking up by 11% against the previous year.

What is the average import price for copper in Turkey?

The average copper import price stood at $9,669 per ton in 2021, surging by 56% against the previous year.

This report provides an in-depth analysis of the copper market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24441200 - Unrefined copper, copper anodes for electrolytic refining (including blister copper) (excluding electrocopper-plating, e lectroplating anodes)

Country coverage:

Turkey

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Turkey
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023