GCC: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in GCC

The GCC market for copper bars, wire and plates fell notably to $X in 2022, which is down by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Copper Bars, Wire And Plates in GCC

In value terms, copper bars, wire and plates production reached $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Copper Bars, Wire And Plates

Exports in GCC

In 2022, after two years of decline, there was significant growth in overseas shipments of copper bars, wire and plates, when their volume increased by X% to X tons. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, copper bars, wire and plates exports surged to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. Kuwait (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to copper bars, wire and plates exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest copper bars, wire and plates supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Imports of Copper Bars, Wire And Plates

Imports in GCC

In 2022, supplies from abroad of copper bars, wire and plates decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, imports showed a pronounced descent. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, copper bars, wire and plates imports declined notably to $X in 2022. Over the period under review, imports continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of copper bars, wire and plates, namely Kuwait, Qatar, Oman and the United Arab Emirates, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Kuwait ($X), Qatar ($X) and Oman ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Kuwait, with a CAGR of X%, saw 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 leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, declining by X% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, copper bars, wire and plates import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton, and then dropped slightly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Kuwait ($X per ton) and Oman ($X per ton), while the United Arab Emirates ($X per ton) and Qatar ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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