Australia's Copper Bars, Wire and Plates Market to Witness Moderate Growth with CAGR of +0.4% from 2024-2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: Australia - Copper Bars, Wire And Plates - Market Analysis, Forecast, Size, Trends and Insights.

Driven by rising demand for copper products, the Australian market is expected to experience growth over the next decade. With a projected CAGR of +0.4% in volume and +0.5% in value, the market is anticipated to reach 171K tons and $1B by 2035.

Driven by rising demand for copper bars, wire and plates in Australia, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.4% for the period from 2024 to 2035, which is projected to bring the market volume to 171K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +0.5% for the period from 2024 to 2035, which is projected to bring the market value to $1B (in nominal wholesale prices) by the end of 2035.

In 2024, the amount of copper bars, wire and plates consumed in Australia totaled 164K tons, leveling off at the previous year's figure. Overall, consumption, however, recorded a slight contraction. Over the period under review, consumption attained the maximum volume at 190K tons in 2013; however, from 2014 to 2024, consumption failed to regain momentum.

The value of the market for copper bars, wire and plates in Australia shrank modestly to $994M in 2024, flattening at 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). In general, consumption, however, continues to indicate a perceptible reduction. Copper bars, wire and plates consumption peaked at $1.3B in 2013; however, from 2014 to 2024, consumption failed to regain momentum.

In 2024, the amount of copper bars, wire and plates produced in Australia reduced to 118K tons, with a decrease of -2.4% on 2023 figures. In general, production saw a perceptible setback. The most prominent rate of growth was recorded in 2021 with an increase of 82%. Copper bars, wire and plates production peaked at 181K tons in 2013; however, from 2014 to 2024, production remained at a lower figure.

In value terms, copper bars, wire and plates production shrank to $698M in 2024 estimated in export price. Over the period under review, production saw a drastic downturn. The growth pace was the most rapid in 2021 when the production volume increased by 94% against the previous year. Copper bars, wire and plates production peaked at $1.3B in 2013; however, from 2014 to 2024, production failed to regain momentum.

In 2024, purchases abroad of copper bars, wire and plates increased by 7% to 48K tons for the first time since 2021, thus ending a two-year declining trend. Over the period under review, total imports indicated a resilient increase from 2013 to 2024: its volume increased at an average annual rate of +5.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -22.1% against 2015 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 111%. Imports peaked at 62K tons in 2015; however, from 2016 to 2024, imports stood at a somewhat lower figure.

In value terms, copper bars, wire and plates imports stood at $460M in 2024. In general, total imports indicated a strong expansion from 2013 to 2024: its value increased at an average annual rate of +7.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -11.2% against 2021 indices. The growth pace was the most rapid in 2014 with an increase of 105%. Over the period under review, imports attained the peak figure at $518M in 2021; however, from 2022 to 2024, imports remained at a lower figure.

Malaysia (16K tons), the United Arab Emirates (8.9K tons) and Taiwan (Chinese) (5.1K tons) were the main suppliers of copper bars, wire and plates imports to Australia, with a combined 68% share of total imports.

From 2013 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +189.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($144M), the United Arab Emirates ($80M) and Taiwan (Chinese) ($45M) appeared to be the largest copper bars, wire and plates suppliers to Australia, together accounting for 66% of total imports.

The United Arab Emirates, with a CAGR of +198.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, copper wire (33K tons) constituted the largest type of copper bars, wire and plates supplied to Australia, accounting for a 67% share of total imports. Moreover, copper wire exceeded the figures recorded for the second-largest type, copper bars, rods and profiles (13K tons), twofold.

From 2013 to 2024, the average annual growth rate of the volume of copper wire imports amounted to +20.0%. With regard to the other supplied products, the following average annual rates of growth were recorded: copper bars, rods and profiles (-2.0% per year) and copper plates, sheets and strip (-8.5% per year).

In value terms, copper wire ($304M) constituted the largest type of copper bars, wire and plates supplied to Australia, comprising 66% of total imports. The second position in the ranking was held by copper bars, rods and profiles ($129M), with a 28% share of total imports.

From 2013 to 2024, the average annual rate of growth in terms of the value of copper wire imports stood at +22.1%. With regard to the other supplied products, the following average annual rates of growth were recorded: copper bars, rods and profiles (+0.4% per year) and copper plates, sheets and strip (-4.0% per year).

In 2024, the average import price for copper bars, wire and plates amounted to $9,550 per ton, growing by 4.8% against the previous year. Over the period under review, import price indicated a tangible increase from 2013 to 2024: its price increased at an average annual rate of +2.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the average import price increased by 44% against the previous year. Over the period under review, average import prices hit record highs in 2024 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplied products. In 2024, the product with the highest price was copper plates, sheets and strip ($11,008 per ton), while the price for copper wire ($9,345 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by copper plates, sheets and strip (+4.9%), while the prices for the other products experienced more modest paces of growth.

The average import price for copper bars, wire and plates stood at $9,110 per ton in 2023, shrinking by -4.5% against the previous year. Overall, import price indicated a tangible expansion from 2013 to 2023: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the average import price increased by 44%. The import price peaked at $9,535 per ton in 2022, and then contracted modestly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Germany ($12,206 per ton) and South Korea ($10,423 per ton), while the price for Malaysia ($8,761 per ton) and Taiwan (Chinese) ($8,778 per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by China (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, after two years of decline, there was growth in shipments abroad of copper bars, wire and plates, when their volume increased by 1% to 1.6K tons. In general, exports, however, recorded a sharp curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 99.9%. Over the period under review, the exports hit record highs at 19K tons in 2013; however, from 2014 to 2024, the exports failed to regain momentum.

In value terms, copper bars, wire and plates exports fell modestly to $9M in 2024. Over the period under review, exports, however, faced a precipitous curtailment. The pace of growth was the most pronounced in 2021 with an increase of 95%. The exports peaked at $146M in 2013; however, from 2014 to 2024, the exports failed to regain momentum.

Thailand (701 tons), New Zealand (538 tons) and China (174 tons) were the main destinations of copper bars, wire and plates exports from Australia, with a combined 88% share of total exports. Malaysia, the United States, Hong Kong SAR, Singapore and the Philippines lagged somewhat behind, together comprising a further 6.6%.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +31.0%), while the other leaders experienced a decline.

In value terms, New Zealand ($5.1M) remains the key foreign market for copper bars, wire and plates exports from Australia, comprising 56% of total exports. The second position in the ranking was held by Thailand ($1.5M), with a 16% share of total exports. It was followed by China, with a 7.1% share.

From 2013 to 2023, the average annual growth rate of value to New Zealand amounted to -13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-13.5% per year) and China (-30.1% per year).

Copper wire (1.4K tons) was the largest type of copper bars, wire and plates exported from Australia, with a 79% share of total exports. Moreover, copper wire exceeded the volume of the second product type, copper bars, rods and profiles (242 tons), sixfold.

From 2013 to 2024, the average annual rate of growth in terms of the volume of copper wire exports totaled -4.3%. With regard to the other exported products, the following average annual rates of growth were recorded: copper bars, rods and profiles (-31.9% per year) and copper plates, sheets and strip (-9.2% per year).

In value terms, copper bars, wire and plates with the largest exports in Australia were copper wire ($4.3M), copper bars, rods and profiles ($3.1M) and copper plates, sheets and strip ($2.9M).

In terms of the main product categories, copper plates, sheets and strip, with a CAGR of -4.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced a decline.

The average export price for copper bars, wire and plates stood at $5,560 per ton in 2024, reducing by -1.7% against the previous year. Over the period under review, the export price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 66%. As a result, the export price attained the peak level of $8,273 per ton. From 2019 to 2024, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was copper plates, sheets and strip ($23,453 per ton), while the average price for exports of copper wire ($3,045 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: copper plates, sheets and strip (+5.3%), while the prices for the other products experienced mixed trend patterns.

In 2023, the average export price for copper bars, wire and plates amounted to $5,657 per ton, approximately mirroring the previous year. Over the period under review, the export price, however, recorded a pronounced contraction. The growth pace was the most rapid in 2018 an increase of 66% against the previous year. As a result, the export price reached the peak level of $8,273 per ton. From 2019 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was the Philippines ($45,605 per ton), while the average price for exports to Thailand ($2,129 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for copper bars, wire and plates in Australia. 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 Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles