GCC: Market for Copper Ores And Concentrates 2024

Market Size for Copper Ores And Concentrates in GCC

For the third year in a row, the GCC copper ores and concentrates market recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption saw a abrupt curtailment. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Copper Ores And Concentrates in GCC

In value terms, copper ores and concentrates production totaled $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Copper Ores And Concentrates

Exports in GCC

In 2022, the amount of copper ores and concentrates exported in GCC amounted to X tons, increasing by X% on the previous year's figure. In general, exports showed a prominent expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, copper ores and concentrates exports contracted modestly to $X in 2022. Over the period under review, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank slightly in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons) was the main exporter of copper ores and concentrates, generating X% of total exports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together held near X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to copper ores and concentrates exports from Saudi Arabia stood at X%. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) illustrated a downward trend over the same period. Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by X% from 2012 to 2022, respectively.

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

In Saudi Arabia, copper ores and concentrates exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then dropped 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 Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Imports of Copper Ores And Concentrates

Imports in GCC

After three years of growth, overseas purchases of copper ores and concentrates decreased by X% to X tons in 2022. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, copper ores and concentrates imports shrank dramatically to $X in 2022. In general, imports showed a abrupt descent. The growth pace was the most rapid in 2019 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates imports structure, together achieving X% of total imports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported copper ores and concentrates in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price showed a abrupt descent. The growth pace was the most rapid in 2015 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while Saudi Arabia ($X per ton) was 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 a decline in the import price figures.

Source: IndexBox Platform

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