Venezuela: Market for Copper Tubes And Pipes 2024

Market Size for Copper Tubes And Pipes in Venezuela

The Venezuelan copper tube and pipe market declined to $X in 2021, waning by -6.2% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Copper Tubes And Pipes in Venezuela

In value terms, copper tube and pipe production declined to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 34% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

Exports of Copper Tubes And Pipes

Exports from Venezuela

In 2021, approx. X tons of copper tubes and pipes were exported from Venezuela; growing by 25% against the previous year. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 368% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, copper tube and pipe exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 537%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Egypt (X tons), the United States (X tons) and Aruba (X kg) were the main destinations of copper tube and pipe exports from Venezuela, with a combined 99.9% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +38.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) emerged as the key foreign market for copper tubes and pipes exports from Venezuela, comprising 71% of total exports. The second position in the ranking was taken by the United States ($X), with a 29% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Egypt was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+38.4% per year) and Aruba (+20.3% per year).

Export Prices by Country

The average copper tube and pipe export price stood at $X per ton in 2021, growing by 9.9% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.7% 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 tube and pipe export price increased by +76.0% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 36%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while the average price for exports to the United States ($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 Aruba (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Tubes And Pipes

Imports into Venezuela

In 2021, the amount of copper tubes and pipes imported into Venezuela soared to X tons, rising by 27% on the previous year's figure. Overall, imports, however, showed a dramatic decline. The pace of growth appeared the most rapid in 2019 with an increase of 251%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, copper tube and pipe imports soared to $X in 2021. Over the period under review, imports, however, recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 186% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Mexico (X tons) and Chile (X tons) were the main suppliers of copper tube and pipe imports to Venezuela, with a combined 77% share of total imports. Brazil, the Netherlands, South Korea and the United States lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of -5.4%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of copper tubes and pipes to Venezuela, comprising 41% of total imports. The second position in the ranking was held by Chile ($X), with a 19% share of total imports. It was followed by Mexico, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (-21.1% per year) and Mexico (-32.1% per year).

Import Prices by Country

The average copper tube and pipe import price stood at $X per ton in 2021, jumping by 47% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform