United Arab Emirates: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in the United Arab Emirates

The market for copper bars, wire and plates in the United Arab Emirates surged to $X in 2021, growing by 93% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Copper Bars, Wire And Plates in the United Arab Emirates

In value terms, copper bars, wire and plates production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +6.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 66% against the previous year. Copper bars, wire and plates production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Copper Bars, Wire And Plates

Exports from the United Arab Emirates

In 2021, shipments abroad of copper bars, wire and plates decreased by -6.8% to X tons, falling for the second year in a row after two years of growth. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -17.8% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 82% against the previous year. The exports peaked at X tons in 2016; however, from 2017 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, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +9.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 71%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) was the main destination for copper bars, wire and plates exports from the United Arab Emirates, accounting for a 34% share of total exports. Moreover, copper bars, wire and plates exports to Saudi Arabia exceeded the volume sent to the second major destination, Oman (X tons), twofold. The third position in this ranking was held by India (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+36.2% per year) and India (+3.7% per year).

In value terms, Saudi Arabia ($X), Oman ($X) and India ($X) were the largest markets for copper bars, wire and plates exported from the United Arab Emirates worldwide, together accounting for 64% of total exports. These countries were followed by South Africa, Australia, Jordan, Sri Lanka, Kuwait, Nepal, Egypt and the Philippines, which together accounted for a further 30%.

Australia, with a CAGR of +369.7%, saw 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

The average export price for copper bars, wire and plates stood at $X per ton in 2021, with an increase of 44% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper bars, wire and plates export price increased by +58.3% against 2019 indices. 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 export markets. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Kuwait ($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 Nepal (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into the United Arab Emirates

In 2021, after two years of decline, there was significant growth in overseas purchases of copper bars, wire and plates, when their volume increased by 24% to X tons. In general, imports, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 33% against the previous year. Imports peaked at X tons in 2012; however, from 2013 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, however, continue to indicate a abrupt slump. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), Saudi Arabia (X tons) and Oman (X tons) were the main suppliers of copper bars, wire and plates imports to the United Arab Emirates, together comprising 32% of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +24.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bars, wire and plates suppliers to the United Arab Emirates were Thailand ($X), India ($X) and Saudi Arabia ($X), together accounting for 30% of total imports. These countries were followed by the UK, Oman, Malaysia, Germany, Kuwait, the United States, Egypt, China and the Netherlands, which together accounted for a further 36%.

Oman, with a CAGR of +28.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for copper bars, wire and plates amounted to $X per ton, jumping by 31% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Kuwait ($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 (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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