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Feb 24, 2025

Middle East's Copper Wire Market to Reach 1.6M Tons in Volume and $18.9B in Value by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: Middle East - Copper Wire - Market Analysis, Forecast, Size, Trends And Insights.

The demand for copper wire in the Middle East is set to rise, leading to an expected CAGR of +1.1% in volume and +2.8% in value from 2024 to 2035. By the end of 2035, the market is projected to reach 1.6M tons in volume and $18.9B in value.

Driven by increasing demand for copper wire in the Middle East, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.1% for the period from 2024 to 2035, which is projected to bring the market volume to 1.6M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market value to $18.9B (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 1.4M tons of copper wire were consumed in the Middle East; with an increase of 20% compared with the year before. The total consumption volume increased at an average annual rate of +5.0% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The revenue of the copper wire market in the Middle East shrank to $13.9B in 2024, dropping by -5.8% against 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). Overall, consumption showed prominent growth. The level of consumption peaked at $20.1B in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

The countries with the highest volumes of consumption in 2024 were Saudi Arabia (420K tons), Iran (240K tons) and Turkey (179K tons), with a combined 59% share of total consumption.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Saudi Arabia (with a CAGR of +11.0%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest copper wire markets in the Middle East were Turkey ($4.2B), Saudi Arabia ($2.9B) and Iran ($2B), together comprising 66% of the total market.

In terms of the main consuming countries, Turkey, with a CAGR of +21.3%, saw the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of copper wire per capita consumption in 2024 were Qatar (17 kg per person), Saudi Arabia (11 kg per person) and Israel (6.3 kg per person).

From 2013 to 2024, the biggest increases were recorded for Saudi Arabia (with a CAGR of +9.0%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, production of copper wire in the Middle East rose to 1.3M tons, increasing by 2.6% compared with the previous year's figure. The total production indicated a buoyant expansion from 2013 to 2024: its volume increased at an average annual rate of +5.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -2.5% against 2022 indices. The pace of growth was the most pronounced in 2021 with an increase of 15%. The volume of production peaked at 1.4M tons in 2022; however, from 2023 to 2024, production remained at a lower figure.

In value terms, copper wire production contracted to $13.8B in 2024 estimated in export price. Overall, production showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 76% against the previous year. The level of production peaked at $21B in 2021; however, from 2022 to 2024, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2024 were the United Arab Emirates (311K tons), Iran (260K tons) and Saudi Arabia (213K tons), together accounting for 58% of total production. Turkey, Iraq, Yemen and Syrian Arab Republic lagged somewhat behind, together accounting for a further 32%.

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Turkey (with a CAGR of +14.6%), while production for the other leaders experienced more modest paces of growth.

In 2024, after five years of decline, there was significant growth in supplies from abroad of copper wire, when their volume increased by 107% to 497K tons. Total imports indicated buoyant growth from 2013 to 2024: its volume increased at an average annual rate of +5.6% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, copper wire imports surged to $4.6B in 2024. In general, imports showed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Saudi Arabia (207K tons) and Turkey (142K tons) represented roughly 70% of total imports in 2024. Qatar (53K tons) ranks next in terms of the total imports with an 11% share, followed by Oman (5.7%). Jordan (19K tons), Israel (13K tons) and the United Arab Emirates (13K tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Saudi Arabia (with a CAGR of +9.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest copper wire importing markets in the Middle East were Saudi Arabia ($1.9B), Turkey ($1.4B) and Qatar ($512M), with a combined 82% share of total imports.

Saudi Arabia, with a CAGR of +11.3%, recorded the highest growth rate of 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.

In 2024, copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm (447K tons) represented the main type of copper wire, generating 88% of total imports. It was distantly followed by copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less (57K tons), creating an 11% share of total imports.

Copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm was also the fastest-growing in terms of imports, with a CAGR of +5.0% from 2013 to 2024. At the same time, copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less (+3.2%) displayed positive paces of growth. From 2013 to 2024, the share of copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm increased by +5.3 percentage points.

In value terms, copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm ($4.1B) constitutes the largest type of copper wire imported in the Middle East, comprising 87% of total imports. The second position in the ranking was held by copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less ($541M), with a 12% share of total imports. It was followed by copper; wire, of copper-zinc base alloys (brass), with a 0.5% share.

For copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm, imports expanded at an average annual rate of +6.9% over the period from 2013-2024. With regard to the other imported products, the following average annual rates of growth were recorded: copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less (+5.6% per year) and copper; wire, of copper-zinc base alloys (brass) (-1.6% per year).

In 2024, the import price in the Middle East amounted to $9,232 per ton, picking up by 2.1% against the previous year. Import price indicated a modest expansion from 2013 to 2024: its price increased at an average annual rate of +1.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, copper wire import price decreased by -6.2% against 2021 indices. The pace of growth was the most pronounced in 2021 an increase of 41% against the previous year. As a result, import price attained the peak level of $9,846 per ton. From 2022 to 2024, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major imported products. In 2024, the product with the highest price was copper; wire, of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) ($15,037 per ton), while the price for copper; wire, of copper-zinc base alloys (brass) ($8,895 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by copper; wire, of copper alloys (other than copper-zinc base alloys, copper-nickel base alloys or copper-nickel-zinc base alloys) (+3.5%), while the other products experienced more modest paces of growth.

In 2024, the import price in the Middle East amounted to $9,232 per ton, rising by 2.1% against the previous year. Import price indicated modest growth from 2013 to 2024: its price increased at an average annual rate of +1.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, copper wire import price decreased by -6.2% against 2021 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 41% against the previous year. As a result, import price attained the peak level of $9,846 per ton. From 2022 to 2024, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2024, major importing countries recorded the following prices: in Israel ($9,974 per ton) and Qatar ($9,734 per ton), while the United Arab Emirates ($8,121 per ton) and Oman ($9,015 per ton) were amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Qatar (+2.4%), while the other leaders experienced more modest paces of growth.

In 2024, the amount of copper wire exported in the Middle East was estimated at 422K tons, growing by 14% on 2023 figures. Total exports indicated a buoyant increase from 2013 to 2024: its volume increased at an average annual rate of +6.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Over the period under review, the exports hit record highs in 2024 and are likely to continue growth in years to come.

In value terms, copper wire exports soared to $3.9B in 2024. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 50%. The level of export peaked in 2024 and is likely to see gradual growth in the near future.

The United Arab Emirates was the major exporter of copper wire in the Middle East, with the volume of exports reaching 278K tons, which was near 66% of total exports in 2024. It was distantly followed by Turkey (117K tons) and Iran (20K tons), together generating a 32% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +6.2% from 2013 to 2024. At the same time, Iran (+15.3%) and Turkey (+9.2%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +15.3% from 2013-2024. From 2013 to 2024, the share of Turkey and Iran increased by +6.2 and +2.8 percentage points, respectively.

In value terms, the United Arab Emirates ($2.5B) remains the largest copper wire supplier in the Middle East, comprising 65% of total exports. The second position in the ranking was held by Turkey ($1.1B), with a 29% share of total exports.

In the United Arab Emirates, copper wire exports increased at an average annual rate of +8.0% over the period from 2013-2024. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+11.0% per year) and Iran (+15.7% per year).

In 2024, copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm (359K tons) was the major type of copper wire, generating 85% of total exports. It was distantly followed by copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less (57K tons), comprising a 13% share of total exports. Copper; wire, of copper alloys (other than copper-zinc base alloys, copper-nickel base alloys or copper-nickel-zinc base alloys) (6.9K tons) followed a long way behind the leaders.

Copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm was also the fastest-growing in terms of exports, with a CAGR of +8.5% from 2013 to 2024. At the same time, copper; wire, of copper alloys (other than copper-zinc base alloys, copper-nickel base alloys or copper-nickel-zinc base alloys) (+1.9%) displayed positive paces of growth. Copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less experienced a relatively flat trend pattern. Copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm (+14 p.p.) significantly strengthened its position in terms of the total exports, while copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less saw its share reduced by -11.8% from 2013 to 2024, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm ($3.3B) remains the largest type of copper wire supplied in the Middle East, comprising 83% of total exports. The second position in the ranking was held by copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less ($579M), with a 15% share of total exports. It was followed by copper; wire, of copper alloys (other than copper-zinc base alloys, copper-nickel base alloys or copper-nickel-zinc base alloys), with a 1.8% share.

For copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm, exports expanded at an average annual rate of +10.2% over the period from 2013-2024. For the other products, the average annual rates were as follows: copper; wire, of refined copper, of which the maximum cross-sectional dimension is 6mm or less (+3.7% per year) and copper; wire, of copper alloys (other than copper-zinc base alloys, copper-nickel base alloys or copper-nickel-zinc base alloys) (+6.7% per year).

The export price in the Middle East stood at $9,294 per ton in 2024, with an increase of 1.5% against the previous year. Export price indicated a slight expansion from 2013 to 2024: its price increased at an average annual rate of +1.9% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 an increase of 39%. As a result, the export price attained the peak level of $9,864 per ton. From 2022 to 2024, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exported products. In 2024, the product with the highest price was copper; wire, of copper-zinc base alloys (brass) ($15,820 per ton), while the average price for exports of copper; wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm ($9,123 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by copper; wire, of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) (+8.4%), while the other products experienced more modest paces of growth.

The export price in the Middle East stood at $9,294 per ton in 2024, rising by 1.5% against the previous year. Export price indicated a modest expansion from 2013 to 2024: its price increased at an average annual rate of +1.9% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 an increase of 39% against the previous year. As a result, the export price reached the peak level of $9,864 per ton. From 2022 to 2024, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Turkey ($9,774 per ton), while Iran ($8,730 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the copper wire market in the Middle East. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Importers on The Market and How They Succeed

The Largest Exporters on The Market and How They Succeed

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles