Copper Bars, Wire And Plates Market

The article analyzes the global market for copper bars, wire, and plates, highlighting a projected growth trend in both volume and value terms. Consumption patterns in key countries, production trends, and export dynamics are examined to provide a comprehensive overview of the market. Key players, growth forecasts, and notable fluctuations in prices are also discussed.

Market Forecast

Driven by increasing demand for copper bars, wire and plates worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 42M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $373.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Copper Bars, Wire And Plates

In 2022, approx. 36M tons of copper bars, wire and plates were consumed worldwide; flattening at the previous year's figure. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, global consumption reached the maximum volume in 2022 and is expected to retain growth in years to come.

The value of the market for copper bars, wire and plates worldwide reached $272.7B in 2022, approximately reflecting 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Consumption By Country

China (9.5M tons) remains the largest copper bars, wire and plates consuming country worldwide, comprising approx. 26% of total volume. Moreover, copper bars, wire and plates consumption in China exceeded the figures recorded by the second-largest consumer, India (3.6M tons), threefold. The third position in this ranking was taken by the United States (3.6M tons), with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +3.0%. In the other countries, the average annual rates were as follows: India (+3.6% per year) and the United States (-1.5% per year).

In value terms, China ($73.4B) led the market, alone. The second position in the ranking was held by the United States ($28.5B). It was followed by India.

In China, the copper bars, wire and plates market expanded at an average annual rate of +1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-2.5% per year) and India (+3.3% per year).

The countries with the highest levels of copper bars, wire and plates per capita consumption in 2022 were Italy (25 kg per person), Russia (13 kg per person) and South Korea (12 kg per person).

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +2.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Copper Bars, Wire And Plates

In 2022, approx. 36M tons of copper bars, wire and plates were produced worldwide; leveling off at the year before. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 3.5% against the previous year. Over the period under review, global production hit record highs in 2022 and is expected to retain growth in years to come.

In value terms, copper bars, wire and plates production shrank slightly to $270.8B in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 19%. Global production peaked at $293.7B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of copper bars, wire and plates production was China (9.5M tons), accounting for 26% of total volume. Moreover, copper bars, wire and plates production in China exceeded the figures recorded by the second-largest producer, India (3.5M tons), threefold. The United States (3.4M tons) ranked third in terms of total production with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +3.4%. In the other countries, the average annual rates were as follows: India (+3.7% per year) and the United States (-1.9% per year).

Imports

World Imports of Copper Bars, Wire And Plates

In 2022, the amount of copper bars, wire and plates imported worldwide dropped modestly to 4.6M tons, which is down by -2.2% compared with the previous year. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. Global imports peaked at 4.8M tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, copper bars, wire and plates imports contracted to $43.6B in 2022. Overall, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +56.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 57%. As a result, imports attained the peak of $43.8B, leveling off in the following year.

Imports By Country

The purchases of the twelve major importers of copper bars, wire and plates, namely the United States, Italy, China, Germany, Mexico, France, the Czech Republic, India, Vietnam, Thailand, Turkey and Poland, represented more than third of total import. The UK (100K tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +13.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($3.9B), China ($2.7B) and Italy ($2.6B) appeared to be the countries with the highest levels of imports in 2022, together comprising 21% of global imports. Germany, Mexico, France, India, Thailand, Vietnam, the Czech Republic, Turkey, Poland and the UK lagged somewhat behind, together comprising a further 31%.

In terms of the main importing countries, Vietnam, with a CAGR of +14.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Copper wire represented the main type of copper bars, wire and plates in the world, with the volume of imports reaching 2.8M tons, which was approx. 60% of total imports in 2022. It was distantly followed by copper plates, sheets and strip (1,055K tons) and copper bars, rods and profiles (786K tons), together committing a 40% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to copper wire imports of stood at +1.2%. At the same time, copper plates, sheets and strip (+1.2%) displayed positive paces of growth. Moreover, copper plates, sheets and strip emerged as the fastest-growing type imported in the world, with a CAGR of +1.2% from 2012-2022. By contrast, copper bars, rods and profiles (-1.9%) illustrated a downward trend over the same period. While the share of copper wire (+3.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of copper bars, rods and profiles (-4.9 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, copper wire ($25.6B) constitutes the largest type of copper bars, wire and plates imported worldwide, comprising 59% of global imports. The second position in the ranking was taken by copper plates, sheets and strip ($11.2B), with a 26% share of global imports.

From 2012 to 2022, the average annual rate of growth in terms of the value of copper wire imports stood at +2.4%. For the other products, the average annual rates were as follows: copper plates, sheets and strip (+2.7% per year) and copper bars, rods and profiles (-0.8% per year).

Import Prices By Type

The average import price for copper bars, wire and plates stood at $9,480 per ton in 2022, increasing by 1.8% against the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 +40.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of 36%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major imported products. In 2022, the product with the highest price was copper plates, sheets and strip ($10,636 per ton), while the price for copper bars, rods and profiles ($8,587 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by copper plates, sheets and strip (+1.5%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for copper bars, wire and plates amounted to $9,480 per ton, picking up by 1.8% against the previous year. Overall, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 +40.9% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 36% against the previous year. Global import price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in China ($10,909 per ton) and Thailand ($10,411 per ton), while the Czech Republic ($8,696 per ton) and France ($8,906 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Copper Bars, Wire And Plates

In 2022, global copper bars, wire and plates exports declined to 4.7M tons, which is down by -2.4% compared with the year before. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 16% against the previous year. Over the period under review, the global exports hit record highs at 4.8M tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, copper bars, wire and plates exports declined modestly to $44.7B in 2022. In general, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +57.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 59%. As a result, the exports reached the peak of $45.3B, and then shrank slightly in the following year.

Exports By Country

In 2022, Germany (756K tons), distantly followed by the United Arab Emirates (370K tons), the United States (238K tons), Italy (234K tons) and Belgium (224K tons) represented the major exporters of copper bars, wire and plates, together making up 39% of total exports. China (195K tons), Poland (195K tons), Canada (191K tons), Spain (182K tons), South Korea (181K tons), Japan (177K tons), France (160K tons) and Thailand (156K tons) followed a long way behind the leaders.

Germany experienced a relatively flat trend pattern with regard to volume of exports of copper bars, wire and plates. At the same time, Thailand (+14.0%), China (+13.9%), the United Arab Emirates (+10.3%), Canada (+3.7%), Belgium (+2.4%), Japan (+2.0%), Poland (+2.0%), Spain (+1.4%) and Italy (+1.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.0% from 2012-2022. The United States and South Korea experienced a relatively flat trend pattern. By contrast, France (-1.3%) illustrated a downward trend over the same period. The United Arab Emirates (+4.7 p.p.), China (+2.9 p.p.) and Thailand (+2.4 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($7.6B) remains the largest copper bars, wire and plates supplier worldwide, comprising 17% of global exports. The second position in the ranking was taken by the United Arab Emirates ($3.3B), with a 7.4% share of global exports. It was followed by the United States, with a 5.6% share.

In Germany, copper bars, wire and plates exports increased at an average annual rate of +1.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+11.3% per year) and the United States (+1.4% per year).

Exports By Type

Copper wire was the major exported product with an export of around 2.8M tons, which accounted for 60% of total exports. It was distantly followed by copper plates, sheets and strip (1,031K tons) and copper bars, rods and profiles (858K tons), together comprising a 40% share of total exports.

Copper wire was also the fastest-growing in terms of exports, with a CAGR of +1.8% from 2012 to 2022. Copper plates, sheets and strip experienced a relatively flat trend pattern. copper bars, rods and profiles (-1.5%) illustrated a downward trend over the same period. Copper wire (+5.6 p.p.) significantly strengthened its position in terms of the global exports, while copper bars, rods and profiles saw its share reduced by -4.8% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, copper wire ($25.8B) remains the largest type of copper bars, wire and plates supplied worldwide, comprising 58% of global exports. The second position in the ranking was held by copper plates, sheets and strip ($11.5B), with a 26% share of global exports.

For copper wire, exports increased at an average annual rate of +2.8% over the period from 2012-2022. With regard to the other exported products, the following average annual rates of growth were recorded: copper plates, sheets and strip (+2.2% per year) and copper bars, rods and profiles (-0.5% per year).

Export Prices By Type

In 2022, the average export price for copper bars, wire and plates amounted to $9,545 per ton, approximately equating the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 export price increased by +30.9% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 38% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exported products. In 2022, the product with the highest price was copper plates, sheets and strip ($11,119 per ton), while the average price for exports of copper bars, rods and profiles ($8,678 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by copper plates, sheets and strip (+1.7%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average export price for copper bars, wire and plates stood at $9,545 per ton in 2022, remaining stable against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 export price increased by +30.9% against 2018 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Japan ($13,006 per ton), while Spain ($8,660 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform