Middle East: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in the Middle East

The Middle Eastern market for copper bars, wire and plates rose significantly to $X in 2023, with an increase of X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Production of Copper Bars, Wire And Plates in the Middle East

In value terms, copper bars, wire and plates production rose significantly to $X in 2023 estimated in export price. Overall, production posted a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Exports of Copper Bars, Wire And Plates

Exports in the Middle East

Copper bars, wire and plates exports stood at X tons in 2023, surging by X% on the year before. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates exports rose modestly to $X in 2023. Total exports indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, the United Arab Emirates (X tons) represented the key exporter of copper bars, wire and plates, constituting X% of total exports. Turkey (X tons) ranks second in terms of the total exports with a X% share, followed by Iran (X%).

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Iran (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Iran (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, remaining constant against the previous year. Export price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, copper bars, wire and plates export price decreased by X% against 2021 indices. 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. From 2022 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports in the Middle East

In 2023, the amount of copper bars, wire and plates imported in the Middle East surged to X tons, with an increase of X% on the year before. Over the period under review, imports, however, showed a noticeable downturn. The volume of import peaked at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, copper bars, wire and plates imports surged to $X in 2023. Overall, imports, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

Turkey was the major importing country with an import of around X tons, which reached X% of total imports. Saudi Arabia (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (X%), Oman (X%), Kuwait (X%), Jordan (X%) and Israel (X%).

From 2012 to 2023, average annual rates of growth with regard to copper bars, wire and plates imports into Turkey stood at X%. At the same time, Qatar (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. Israel, Oman and Jordan experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey, Qatar, Oman and Kuwait increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported copper bars, wire and plates in the Middle East, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey stood at X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, falling by X% against the previous year. Import price indicated a modest increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, copper bars, wire and plates import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Jordan ($X per ton) and Israel ($X per ton), while Kuwait ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2023, 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