United Arab Emirates: Copper Wire Market 2024

Copper Wire Market Size in the United Arab Emirates

For the fifth consecutive year, the copper wire market in the United Arab Emirates recorded growth in sales value, which increased by 133% to $X in 2021. Overall, consumption continues to indicate a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Copper Wire Production in the United Arab Emirates

In value terms, copper wire production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production saw a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 143%. Over the period under review, production hit record highs at $X in 2020, and then dropped slightly in the following year.

Copper Wire Exports

Exports from the United Arab Emirates

For the third year in a row, the United Arab Emirates recorded decline in overseas shipments of copper wire, which decreased by -8.5% to X tons in 2021. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 215% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, copper wire exports surged to $X in 2021. In general, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 193% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) was the main destination for copper wire exports from the United Arab Emirates, with a 38% share of total exports. Moreover, copper wire exports to Saudi Arabia exceeded the volume sent to the second major destination, Oman (X tons), twofold. India (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia amounted to +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+44.5% per year) and India (+9.5% per year).

In value terms, the largest markets for copper wire exported from the United Arab Emirates were Saudi Arabia ($X), Oman ($X) and India ($X), with a combined 68% share of total exports. These countries were followed by South Africa, Australia, Sri Lanka and Jordan, which together accounted for a further 23%.

Among the main countries of destination, Australia, with a CAGR of +198.0%, recorded 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 wire export price stood at $X per ton in 2021, increasing by 44% against the previous year. Overall, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire export price increased by +57.7% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Oman ($X per ton) and Sri Lanka ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) and India ($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 Oman (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into the United Arab Emirates

In 2021, the amount of copper wire imported into the United Arab Emirates surged to X tons, growing by 34% against the previous year. Over the period under review, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 167% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, copper wire imports soared to $X in 2021. Overall, imports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 152%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Oman (X tons), Saudi Arabia (X tons) and Egypt (X tons) were the main suppliers of copper wire imports to the United Arab Emirates, with a combined 72% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +39.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper wire suppliers to the United Arab Emirates were Oman ($X), Saudi Arabia ($X) and Egypt ($X), together comprising 61% of total imports.

Saudi Arabia, with a CAGR of +29.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 24% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 28%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Turkey ($X per ton), while the price for South Africa ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform