U.S.: Copper Wire Market 2024

Copper Wire Market Size in the U.S.

The U.S. copper wire market surged to $X in 2021, growing by 34% against the previous year. Overall, consumption continues to indicate a resilient expansion. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in the near future.

Copper Wire Production in the U.S.

In value terms, copper wire production declined slightly to $X in 2021. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; 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 27% against the previous year. Copper wire production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports from the U.S.

In 2021, shipments abroad of copper wire was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, copper wire exports surged to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for copper wire exports from the United States, with a 69% share of total exports. Moreover, copper wire exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Mexico stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+0.4% per year) and China (-28.1% per year).

In value terms, Mexico ($X) remains the key foreign market for copper wire exports from the United States, comprising 66% of total exports. The second position in the ranking was held by Canada ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+2.4% per year) and China (-18.5% per year).

Export Prices by Country

In 2021, the average copper wire export price amounted to $X per ton, jumping by 38% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. As a result, the export price attained the peak level and is likely to continue 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 China ($X per ton), while the average price for exports to Mexico ($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 (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into the U.S.

In 2021, approx. X tons of copper wire were imported into the United States; jumping by 27% on 2020 figures. The total import volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper wire imports skyrocketed to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Canada (X tons) constituted the largest copper wire supplier to the United States, with a 80% share of total imports. Moreover, copper wire imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold. The third position in this ranking was held by Russia (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-5.7% per year) and Russia (+116.8% per year).

In value terms, Canada ($X) constituted the largest supplier of copper wire to the United States, comprising 77% of total imports. The second position in the ranking was taken by Mexico ($X), with a 3.8% share of total imports. It was followed by Russia, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value from Canada stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-4.2% per year) and Russia (+102.8% per year).

Import Prices by Country

In 2021, the average copper wire import price amounted to $X per ton, jumping by 36% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. 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 Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform