United Kingdom: Copper Wire Market 2024

Copper Wire Market Size in the UK

In 2021, the UK copper wire market increased by 12% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption continues to indicate a deep setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Copper Wire Production in the UK

In value terms, copper wire production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt curtailment. Copper wire production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Copper Wire Exports

Exports from the UK

For the fourth consecutive year, the UK recorded decline in overseas shipments of copper wire, which decreased by -15.2% to X tons in 2021. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 101%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, copper wire exports rose significantly to $X in 2021. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 59% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for copper wire exports from the UK, accounting for a 30% share of total exports. Moreover, copper wire exports to Germany exceeded the volume sent to the second major destination, Spain (X tons), twofold. France (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at -9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+8.6% per year) and France (-2.7% per year).

In value terms, Germany ($X) remains the key foreign market for copper wire exports from the UK, comprising 32% of total exports. The second position in the ranking was taken by Spain ($X), with a 12% share of total exports. It was followed by France, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled -9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+7.9% per year) and France (-7.2% per year).

Export Prices by Country

The average copper wire export price stood at $X per ton in 2021, surging by 29% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to India ($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 the Netherlands (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Copper Wire Imports

Imports into the UK

Copper wire imports into the UK reduced sharply to X tons in 2021, shrinking by -15.7% on the previous year's figure. Over the period under review, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2014 when imports increased by 30% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, copper wire imports surged to $X in 2021. Overall, imports saw a pronounced descent. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of copper wire to the UK, with a 55% share of total imports. Moreover, copper wire imports from Belgium exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+1.4% per year) and Germany (+2.4% per year).

In value terms, Belgium ($X) constituted the largest supplier of copper wire to the UK, comprising 56% of total imports. The second position in the ranking was held by Turkey ($X), with a 15% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+4.3% per year) and Germany (+2.3% per year).

Import Prices by Country

In 2021, the average copper wire import price amounted to $X per ton, with an increase of 48% against the previous year. In general, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire import price increased by +41.6% against 2018 indices. As a result, import price reached 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 Turkey ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform