United Kingdom: Copper Chain Market 2024

Copper Chain Market Size in the UK

The UK copper chain market contracted to $X in 2022, dropping by -6.5% against the previous year. Over the period under review, consumption, however, showed a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Copper Chain Production in the UK

In value terms, copper chain production shrank to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 23%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Copper Chain Exports

Exports from the UK

In 2022, the amount of chain and parts thereof of copper exported from the UK totaled X tons, growing by 9.1% on the previous year's figure. In general, exports, however, saw a deep downturn. The pace of growth was the most pronounced in 2017 when exports increased by 50% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, copper chain exports shrank to $X in 2022. Over the period under review, exports, however, saw a perceptible decline. The growth pace was the most rapid in 2017 when exports increased by 48% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for copper chain exports from the UK, accounting for a 43% share of total exports. Moreover, copper chain exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+6.1% per year) and the United States (+3.6% per year).

In value terms, the largest markets for copper chain exported from the UK were Germany ($X), the United States ($X) and Saudi Arabia ($X), together accounting for 50% of total exports. Italy, Qatar, France, Nigeria, Spain, Ghana, Ireland, the Netherlands, Hong Kong SAR and the United Arab Emirates lagged somewhat behind, together accounting for a further 33%.

Among the main countries of destination, Qatar, with a CAGR of +45.5%, recorded the highest rates of growth with regard to 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 chain export price stood at $X per ton in 2022, declining by -8.4% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper chain export price increased by +34.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 an increase of 81% against the previous year. The export price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Nigeria ($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 Hong Kong SAR (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Chain Imports

Imports into the UK

In 2022, the amount of chain and parts thereof of copper imported into the UK declined remarkably to X tons, dropping by -33.1% against the previous year's figure. Over the period under review, imports continue to indicate a precipitous curtailment. The growth pace was the most rapid in 2021 when imports increased by 152%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, copper chain imports shrank notably to $X in 2022. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 156%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of copper chain to the UK, accounting for a 47% share of total imports. Moreover, copper chain imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to -14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-24.9% per year) and Italy (-36.6% per year).

In value terms, the United States ($X), India ($X) and China ($X) appeared to be the largest copper chain suppliers to the UK, with a combined 69% share of total imports. Germany, Italy and South Korea lagged somewhat behind, together accounting for a further 28%.

Among the main suppliers, South Korea, with a CAGR of +21.3%, saw the highest rates of growth with regard to 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 chain import price amounted to $X per ton, jumping by 24% against the previous year. Over the period under review, the import price recorded a significant increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 125%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+45.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :