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 skyrocketed to $X in 2023, with an increase of X% against the previous year. Overall, consumption, however, showed a mild decrease. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Copper Bars, Wire And Plates in GCC

In value terms, copper bars, wire and plates production expanded significantly to $X in 2023 estimated in export price. The total production indicated a moderate 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Copper Bars, Wire And Plates

Exports in GCC

In 2023, copper bars, wire and plates exports in GCC rose sharply to X tons, picking up by X% against the year before. Total exports indicated buoyant growth from 2012 to 2023: its volume 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 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, copper bars, wire and plates exports expanded markedly to $X in 2023. Total exports indicated buoyant growth from 2012 to 2023: its value 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, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X tons, which was near X% of total exports in 2023. Kuwait (X tons) held a minor share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the copper bars, wire and plates exports, with a CAGR of X% from 2012 to 2023. At the same time, Kuwait (X%) displayed positive paces of growth. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, copper bars, wire and plates exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, growing by X% against the previous year. Export price indicated a mild increase from 2012 to 2023: its price 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, copper bars, wire and plates export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded 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.

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 Kuwait stood at $X per ton.

From 2012 to 2023, 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 2023, overseas purchases of copper bars, wire and plates were finally on the rise to reach X tons after four years of decline. In general, imports, however, saw a perceptible contraction. The volume of import peaked at X tons in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, copper bars, wire and plates imports soared to $X in 2023. Over the period under review, imports, however, showed a noticeable descent. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of copper bars, wire and plates, namely Saudi Arabia, Qatar and Oman, represented more than two-thirds of total import. Kuwait (X tons) ranks next in terms of the total imports with an X% share, followed by the United Arab Emirates (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest copper bars, wire and plates importing markets in GCC were Saudi Arabia ($X), Oman ($X) and Qatar ($X), together accounting for X% of total imports.

Qatar, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the import price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then contracted in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Oman ($X per ton) and Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) and Kuwait ($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