Copper Tube And Pipe Market

The article provides an in-depth analysis of the global copper tube and pipe market, forecasting a decrease in both volume and value terms over the next eight years. It highlights the trends in consumption, production, import, and export of copper tubes and pipes worldwide. Key points include the dominance of China in both consumption and production, the growth of India as an importing country, and the types of copper tubes and pipes dominating the market. The data presented covers the years from 2012 to 2022, showing trends in consumption, production, import, and export volumes, values, and prices.

Market Forecast

Depressed by shrinking demand for copper tube and pipe worldwide, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -1.8% for the period from 2022 to 2030, which is projected to depress the market volume to 3M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +0.2% for the period from 2022 to 2030, which is projected to bring the market value to $29.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Copper Tubes And Pipes

Global copper tube and pipe consumption declined modestly to 3.5M tons in 2022, almost unchanged from the year before. Overall, consumption showed a relatively flat trend pattern. Global consumption peaked at 3.7M tons in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

The global copper tube and pipe market revenue reduced modestly to $29.5B in 2022, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. Global consumption peaked at $31.8B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

China (844K tons) constituted the country with the largest volume of copper tube and pipe consumption, comprising approx. 24% of total volume. Moreover, copper tube and pipe consumption in China exceeded the figures recorded by the second-largest consumer, India (365K tons), twofold. The third position in this ranking was taken by the United States (306K tons), with an 8.7% share.

In China, copper tube and pipe consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+2.2% per year) and the United States (-0.5% per year).

In value terms, the largest copper tube and pipe markets worldwide were China ($6.3B), the United States ($3.2B) and India ($3.1B), together accounting for 43% of the global market. Japan, Brazil, Germany, Mexico, Bangladesh, Italy, Ethiopia, Vietnam, South Korea and Iran lagged somewhat behind, together comprising a further 28%.

Among the main consuming countries, Ethiopia, with a CAGR of +1.6%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of copper tube and pipe per capita consumption in 2022 were South Korea (1,470 kg per 1000 persons), Germany (1,266 kg per 1000 persons) and Japan (1,264 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by India (with a CAGR of +1.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Copper Tubes And Pipes

In 2022, the amount of copper tubes and pipes produced worldwide shrank slightly to 3.5M tons, waning by -1.7% compared with the previous year's figure. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 6.1% against the previous year. Global production peaked at 3.8M tons in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, copper tube and pipe production dropped to $28.4B in 2022 estimated in export price. In general, production saw a slight reduction. The pace of growth was the most pronounced in 2017 with an increase of 15% against the previous year. Over the period under review, global production hit record highs at $32.8B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

China (1.1M tons) constituted the country with the largest volume of copper tube and pipe production, accounting for 30% of total volume. Moreover, copper tube and pipe production in China exceeded the figures recorded by the second-largest producer, India (288K tons), fourfold. The third position in this ranking was taken by the United States (215K tons), with a 6.2% share.

In China, copper tube and pipe production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+0.4% per year) and the United States (-2.4% per year).

Imports

World Imports of Copper Tubes And Pipes

In 2022, approx. 968K tons of copper tubes and pipes were imported worldwide; growing by 9.3% on the year before. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, copper tube and pipe imports reached $10.4B in 2022. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 48% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports By Country

The countries with the highest levels of copper tube and pipe imports in 2022 were the United States (116K tons), India (85K tons), Turkey (68K tons), Thailand (51K tons), Italy (46K tons), Germany (39K tons), France (36K tons), the UK (34K tons), Malaysia (25K tons), South Korea (24K tons), Poland (22K tons) and Russia (21K tons), together amounting to 59% of total import. Taiwan (Chinese) (21K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +16.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest copper tube and pipe importing markets worldwide were the United States ($1.4B), India ($886M) and Turkey ($713M), with a combined 29% share of global imports.

India, with a CAGR of +17.7%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Tubes and pipes of refined copper dominates imports structure, reaching 778K tons, which was approx. 86% of total imports in 2022. It was distantly followed by tubes and pipes of copper-zinc base alloys (brass) (63K tons) and tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (45K tons), together committing a 12% share of total imports. Tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) (20K tons) took a relatively small share of total imports.

Tubes and pipes of refined copper was also the fastest-growing in terms of imports, with a CAGR of +3.5% from 2012 to 2022. tubes and pipes of copper-zinc base alloys (brass) (-2.5%), tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) (-2.8%) and tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (-5.9%) illustrated a downward trend over the same period. Tubes and pipes of refined copper (+12 p.p.) significantly strengthened its position in terms of the global imports, while tubes and pipes of copper-zinc base alloys (brass) and tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver saw its share reduced by -4% and -6.2% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, tubes and pipes of refined copper ($8.4B) constitutes the largest type of copper tubes and pipes imported worldwide, comprising 85% of global imports. The second position in the ranking was held by tubes and pipes of copper-zinc base alloys (brass) ($623M), with a 6.3% share of global imports. It was followed by tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver, with a 5.9% share.

For tubes and pipes of refined copper, imports expanded at an average annual rate of +4.9% over the period from 2012-2022. With regard to the other imported products, the following average annual rates of growth were recorded: tubes and pipes of copper-zinc base alloys (brass) (-1.1% per year) and tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (-2.9% per year).

Import Prices By Type

The average copper tube and pipe import price stood at $10,719 per ton in 2022, rising by 4.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 31%. Global import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) ($15,677 per ton), while the price for tubes and pipes of copper-zinc base alloys (brass) ($9,817 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (+3.2%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average copper tube and pipe import price amounted to $10,719 per ton, rising by 4.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2021 when the average import price increased by 31%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($11,994 per ton), while Russia ($6,725 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+1.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Copper Tubes And Pipes

Global copper tube and pipe exports rose markedly to 947K tons in 2022, surging by 6.6% on 2021. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, copper tube and pipe exports rose sharply to $10.4B in 2022. Overall, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 50% against the previous year. The global exports peaked in 2022 and are likely to continue growth in the near future.

Exports By Country

In 2022, China (233K tons), distantly followed by Vietnam (103K tons), Germany (83K tons), Greece (73K tons), Italy (63K tons), Thailand (55K tons), South Korea (45K tons) and Malaysia (43K tons) represented the largest exporters of copper tubes and pipes, together creating 74% of total exports. The United States (26K tons), Austria (24K tons), Turkey (19K tons), Mexico (19K tons) and Uzbekistan (17K tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to copper tube and pipe exports from China stood at +3.7%. At the same time, Uzbekistan (+105.7%), Vietnam (+26.4%), Turkey (+19.5%), Thailand (+7.1%), Greece (+3.9%), Italy (+3.4%) and Austria (+1.1%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the world, with a CAGR of +105.7% from 2012-2022. The United States and Malaysia experienced a relatively flat trend pattern. By contrast, South Korea (-1.2%), Mexico (-1.6%) and Germany (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, China, Thailand, Uzbekistan and Turkey increased by +9.5, +2.8, +2.1, +1.8 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.5B) remains the largest copper tube and pipe supplier worldwide, comprising 24% of global exports. The second position in the ranking was held by Vietnam ($1.1B), with an 11% share of global exports. It was followed by Germany, with a 9.4% share.

In China, copper tube and pipe exports expanded at an average annual rate of +5.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+28.5% per year) and Germany (-1.4% per year).

Exports By Type

Tubes and pipes of refined copper dominates exports structure, recording 787K tons, which was near 87% of total exports in 2022. It was distantly followed by tubes and pipes of copper-zinc base alloys (brass) (60K tons), generating a 6.7% share of total exports. The following types - tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (37K tons) and tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) (19K tons) - together made up 6.2% of total exports.

Tubes and pipes of refined copper was also the fastest-growing in terms of exports, with a CAGR of +3.0% from 2012 to 2022. tubes and pipes of copper-zinc base alloys (brass) (-2.3%), tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (-3.4%) and tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) (-4.2%) illustrated a downward trend over the same period. While the share of tubes and pipes of refined copper (+8.4 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) (-1.8 p.p.), tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (-2.9 p.p.) and tubes and pipes of copper-zinc base alloys (brass) (-3.6 p.p.) displayed negative dynamics.

In value terms, tubes and pipes of refined copper ($8.5B) remains the largest type of copper tubes and pipes supplied worldwide, comprising 85% of global exports. The second position in the ranking was taken by tubes and pipes of copper-zinc base alloys (brass) ($645M), with a 6.5% share of global exports. It was followed by tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of the value of tubes and pipes of refined copper exports totaled +4.3%. With regard to the other exported products, the following average annual rates of growth were recorded: tubes and pipes of copper-zinc base alloys (brass) (-0.4% per year) and tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (-0.9% per year).

Export Prices By Type

In 2022, the average copper tube and pipe export price amounted to $10,969 per ton, surging by 3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 34%. The global export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) ($16,241 per ton), while the average price for exports of tubes and pipes of copper-zinc base alloys (brass) ($10,696 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (+2.6%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average copper tube and pipe export price amounted to $10,969 per ton, picking up by 3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2021 an increase of 34%. The global export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the United States ($12,939 per ton) and Italy ($12,210 per ton), while Uzbekistan ($9,234 per ton) and Greece ($9,885 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+2.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform