GCC: Copper Stranded Wire Market 2024

Copper Stranded Wire Market Size in GCC

In 2022, the GCC copper stranded wire market decreased by X% to $X, falling for the fifth year in a row after two years of growth. Over the period under review, consumption showed a slight setback. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Copper Stranded Wire Production in GCC

In value terms, copper stranded wire production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Copper Stranded Wire Exports

Exports in GCC

In 2022, overseas shipments of copper stranded wire, cables and plaited bands decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 when exports increased by X%. The volume of export peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, copper stranded wire exports shrank notably to $X in 2022. Over the period under review, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the major exporter of copper stranded wire, cables and plaited bands, comprising X% of total exports. Kuwait (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%). Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Kuwait (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

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

In the United Arab Emirates, copper stranded wire 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: Kuwait (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a strong increase 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. As a result, the export 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 suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($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.

Copper Stranded Wire Imports

Imports in GCC

In 2022, the amount of copper stranded wire, cables and plaited bands imported in GCC contracted dramatically to X tons, which is down by X% on 2021. In general, imports, however, saw tangible growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, copper stranded wire imports shrank sharply to $X in 2022. Total imports indicated a modest increase 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. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2021, and then declined sharply in the following year.

Imports by Country

The United Arab Emirates represented the major importing country with an import of around X tons, which resulted at X% of total imports. It was distantly followed by Kuwait (X tons), Bahrain (X tons) and Oman (X tons), together creating a X% share of total imports. Qatar (X tons) held a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) and Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Kuwait (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while Oman and Qatar saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported copper stranded wire, cables and plaited bands in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Bahrain, with a X% share.

In the United Arab Emirates, copper stranded wire imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Bahrain (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :