Air Conditioning Segment Driving the Seamless Copper Tube Market in MENA, says Technavio
By Business Wire News
By Business Wire News
The research report is titled “Seamless Copper Tubes Market in MENA 2015-2019” and provides an in-depth analysis of both revenue and emerging market trends. The research report also includes up to date analysis and forecast estimates for various market segments and all geographical regions.
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The reports states the widespread use of copper in air conditioners, from window units to large chillers, (which is a huge market in MENA countries, especially GCC), and the low per capita consumption of copper in developing nations are indicative of the market’s promising future.
“Copper has excellent thermal conductivity, resistance to corrosion, and anti-microbial properties that cannot be replaced by any other material,” said Technavio metals and minerals research expert Chandrakumar B J.
The seamless copper tubes in MENA market is divided into market segmentation by country. The four major countries in this region are UAE, South Africa, Iran, and Egypt.
Iran and the South Africa are the largest markets for seamless copper tubes in MENA. The concentration of AC manufacturers and HVAC and MEP contractors and their corresponding moderate to high demand for seamless copper tubes, has transformed the South Africa into a buoyant market.
“South Africa’s ACR market is likely to continue its growth momentum, spurred by massive government spending on mega projects, social housing, and educational development schemes,” said Chandrakumar. “The government’s decision to build 500,000 units to tackle the housing supply problem will stimulate the demand for all consumer durable products, including air conditioners, boosting consumption of seamless copper tubes in the HVACR segment,” he added.
Iran has the largest market share of any country in the region, just edging out South Africa. 70% of the market in Iran is met by local supplier Qaem Copper. The country’s copper tube market is being driven by the air conditioning segment which accounts for 58% of the country’s copper tube consumption. The air conditioning sector is one that should never go out of business in this region.
The UAE has the third largest market share in the region, however they are growing the fastest. The seamless copper tubes market in the UAE was estimated at 16.55 kilo tons in 2014 and is expected to reach 26.64 kilo tons by 2019, growing at a CAGR of 9.99% during the forecast period.
Imports contributed to 100% of the UAE’s seamless copper tube demand in 2014. The key suppliers of seamless copper tubes in the UAE were from the US and Europe, and China. The ACR segment accounts for 55% of the demand for seamless copper tubes, followed by the plumbing segment which accounts for 24%.
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