Ceramic Electrical Insulator Market

The global ceramic electrical insulator market is forecasted to experience growth in both volume and value terms from 2022 to 2030. The United States leads in consumption and imports, while China dominates in production and exports. In 2022, global consumption, production, imports, and exports of ceramic electrical insulators all saw positive trends with growth rates varying by country. The market is expected to continue on an upward trajectory in the coming years.

Market Forecast

Driven by rising demand for ceramic electrical insulator worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.5% for the period from 2022 to 2030, which is projected to bring the market volume to 777M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market value to $3.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electrical Insulators Of Ceramics

In 2022, global consumption of electrical insulators of ceramics was estimated at 747M units, surging by 5.1% on 2021 figures. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak volume of 826M units. From 2021 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global ceramic electrical insulator market value rose remarkably to $2.6B in 2022, with an increase of 5.2% 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). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $2.8B. From 2021 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The country with the largest volume of ceramic electrical insulator consumption was the United States (275M units), comprising approx. 37% of total volume. Moreover, ceramic electrical insulator consumption in the United States exceeded the figures recorded by the second-largest consumer, China (102M units), threefold. Japan (34M units) ranked third in terms of total consumption with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United States was relatively modest. In the other countries, the average annual rates were as follows: China (-2.2% per year) and Japan (+1.2% per year).

In value terms, the United States ($915M) led the market, alone. The second position in the ranking was taken by Japan ($223M). It was followed by China.

In the United States, the ceramic electrical insulator market remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+1.9% per year) and China (-3.1% per year).

In 2022, the highest levels of ceramic electrical insulator per capita consumption was registered in the United States (820 units per 1000 persons), followed by Japan (276 units per 1000 persons), Italy (253 units per 1000 persons) and Thailand (188 units per 1000 persons), while the world average per capita consumption of ceramic electrical insulator was estimated at 94 units per 1000 persons.

In the United States, ceramic electrical insulator per capita consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+1.5% per year) and Italy (+3.5% per year).

Production

World Production of Electrical Insulators Of Ceramics

In 2022, global production of electrical insulators of ceramics amounted to 945M units, picking up by 8.2% compared with 2021. The total output volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 45% against the previous year. As a result, production attained the peak volume of 1B units. From 2021 to 2022, global production growth remained at a somewhat lower figure.

In value terms, ceramic electrical insulator production expanded significantly to $2.7B in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 22% against the previous year. As a result, production attained the peak level of $2.9B. From 2021 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (438M units), the United States (228M units) and India (56M units), together accounting for 76% of global production.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +3.7%), while production for the other global leaders experienced a decline in the production figures.

Imports

World Imports of Electrical Insulators Of Ceramics

Global ceramic electrical insulator imports amounted to 298M units in 2022, remaining relatively unchanged against the year before. In general, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.7% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 73% against the previous year. As a result, imports reached the peak of 323M units. From 2021 to 2022, the growth of global imports failed to regain momentum.

In value terms, ceramic electrical insulator imports rose to $742M in 2022. Over the period under review, imports, however, showed a noticeable reduction. Over the period under review, global imports hit record highs at $1B in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The United States represented the largest importer of electrical insulators of ceramics in the world, with the volume of imports reaching 88M units, which was near 30% of total imports in 2022. Italy (19M units) took the second position in the ranking, followed by Thailand (14M units). All these countries together took near 11% share of total imports. The following importers - Germany (11M units), Bangladesh (8.7M units), Brazil (8M units), the Philippines (7.9M units), Australia (7.7M units), Canada (7.1M units), Sweden (6.6M units), Spain (5.8M units), the Czech Republic (5.8M units) and Nigeria (5.6M units) - together made up 25% of total imports.

Imports into the United States increased at an average annual rate of +8.4% from 2012 to 2022. At the same time, Bangladesh (+20.4%), Thailand (+14.2%), the Czech Republic (+13.4%), the Philippines (+9.5%), Spain (+6.4%), Italy (+4.0%) and Germany (+2.8%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in the world, with a CAGR of +20.4% from 2012-2022. Australia, Canada and Sweden experienced a relatively flat trend pattern. By contrast, Brazil (-1.5%) and Nigeria (-8.7%) illustrated a downward trend over the same period. While the share of the United States (+14 p.p.), Thailand (+3.3 p.p.) and Bangladesh (+2.4 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Nigeria (-3.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($124M) constitutes the largest market for imported electrical insulators of ceramics worldwide, comprising 17% of global imports. The second position in the ranking was taken by Italy ($42M), with a 5.7% share of global imports. It was followed by Bangladesh, with a 3.4% share.

In the United States, ceramic electrical insulator imports declined by an average annual rate of -1.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+1.7% per year) and Bangladesh (+20.9% per year).

Import Prices By Country

In 2022, the average ceramic electrical insulator import price amounted to $2.5 per unit, increasing by 3.4% against the previous year. Overall, the import price, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2014 an increase of 7.5%. Over the period under review, average import prices attained the maximum at $4.6 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($3.4 per unit), while Thailand ($1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+7.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Electrical Insulators Of Ceramics

In 2022, global exports of electrical insulators of ceramics totaled 496M units, with an increase of 7.7% on the previous year's figure. In general, exports showed a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 118%. As a result, the exports attained the peak of 520M units. From 2021 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, ceramic electrical insulator exports rose markedly to $739M in 2022. Over the period under review, exports, however, showed a pronounced slump. Over the period under review, the global exports attained the maximum at $924M in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

China prevails in exports structure, recording 338M units, which was approx. 68% of total exports in 2022. The United States (41M units) ranks second in terms of the total exports with an 8.3% share, followed by India (5%). Germany (22M units), Slovakia (12M units), Portugal (12M units) and Romania (8.9M units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.6% from 2012 to 2022. At the same time, the United States (+26.4%), Portugal (+12.6%), Slovakia (+6.7%), Germany (+4.1%), Romania (+3.9%) and India (+2.8%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing exporter exported in the world, with a CAGR of +26.4% from 2012-2022. The United States (+6.9 p.p.) and China (+6.6 p.p.) significantly strengthened its position in terms of the global exports, while India saw its share reduced by -1.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($247M) remains the largest ceramic electrical insulator supplier worldwide, comprising 33% of global exports. The second position in the ranking was held by India ($80M), with an 11% share of global exports. It was followed by Germany, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: India (+5.3% per year) and Germany (-1.9% per year).

Export Prices By Country

In 2022, the average ceramic electrical insulator export price amounted to $1.5 per unit, with an increase of 5% against the previous year. Over the period under review, the export price, however, recorded a drastic downturn. The growth pace was the most rapid in 2016 when the average export price increased by 79%. As a result, the export price attained the peak level of $5.4 per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($3.3 per unit), while China ($0.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform