Glass Electrical Insulator Market

The global glass electrical insulator market is projected to see continued growth in the coming years, with a forecasted increase in volume and value from 2022 to 2030. The article provides detailed analysis of consumption, production, imports, and exports trends for glass electrical insulators worldwide, including key statistics on top consuming, producing, importing, and exporting countries. Insights on market performance, growth rates, fluctuations, and price trends are also included in the comprehensive summary.

Market Forecast

Driven by increasing demand for glass electrical insulators worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 261M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.6% for the period from 2022 to 2030, which is projected to bring the market value to $1.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Glass Electrical Insulators

In 2022, approx. 201M units of glass electrical insulators were consumed worldwide; remaining relatively unchanged against the year before. In general, the total consumption indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.7% against 2020 indices. As a result, consumption reached the peak volume of 209M units. From 2018 to 2022, the growth of the global consumption failed to regain momentum.

The global glass electrical insulator market value rose significantly to $707M in 2022, increasing by 11% 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, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +23.9% against 2019 indices. Over the period under review, the global market attained the peak level in 2022 and is expected to retain growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (71M units), Italy (38M units) and Spain (9.9M units), together accounting for 59% of global consumption. Brazil, Ukraine, Pakistan, Russia, Vietnam, Canada and Malaysia lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +128.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest glass electrical insulator markets worldwide were China ($188M), Italy ($136M) and Spain ($39M), together accounting for 51% of the global market. Pakistan, Canada, Vietnam, Brazil, Malaysia, Ukraine and Russia lagged somewhat behind, together comprising a further 14%.

Pakistan, with a CAGR of +128.1%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of glass electrical insulator per capita consumption was registered in Italy (637 units per 1000 persons), followed by Spain (209 units per 1000 persons), Ukraine (124 units per 1000 persons) and Canada (123 units per 1000 persons), while the world average per capita consumption of glass electrical insulator was estimated at 25 units per 1000 persons.

From 2012 to 2022, the average annual growth rate of the glass electrical insulator per capita consumption in Italy totaled +19.6%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Spain (-1.2% per year) and Ukraine (+5.0% per year).

Production

World Production of Glass Electrical Insulators

In 2022, the amount of glass electrical insulators produced worldwide fell to 179M units, with a decrease of -9.6% compared with the previous year's figure. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 30% against the previous year. As a result, production attained the peak volume of 215M units. From 2018 to 2022, global production growth failed to regain momentum.

In value terms, glass electrical insulator production reached $616M in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.8% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 33%. Over the period under review, global production hit record highs at $647M in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (89M units), Italy (46M units) and Russia (14M units), together accounting for 83% of global production.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +5.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Glass Electrical Insulators

In 2022, purchases abroad of glass electrical insulators was finally on the rise to reach 79M units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 15%. Over the period under review, global imports hit record highs at 107M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, glass electrical insulator imports reached $275M in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 18% against the previous year. As a result, imports attained the peak of $300M. From 2014 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports By Country

Brazil (7.3M units), Canada (6.5M units), Pakistan (5.4M units), Vietnam (5M units), the United States (4.8M units), Malaysia (3.4M units), Myanmar (3M units), Iraq (2.6M units), Algeria (2.4M units), Indonesia (2.4M units), Kazakhstan (2.3M units) and the UK (2.1M units) represented roughly 60% of total imports in 2022. Afghanistan (2M units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +155.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest glass electrical insulator importing markets worldwide were the United States ($37M), Pakistan ($21M) and Canada ($20M), with a combined 29% share of global imports.

Pakistan, with a CAGR of +148.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average glass electrical insulator import price amounted to $3.5 per unit, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 28% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($7.7 per unit), while Myanmar ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Glass Electrical Insulators

In 2022, overseas shipments of glass electrical insulators decreased by -23% to 57M units, falling for the third consecutive year after two years of growth. In general, exports saw a deep reduction. The growth pace was the most rapid in 2016 with an increase of 8.5%. Over the period under review, the global exports hit record highs at 141M units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass electrical insulator exports stood at $228M in 2022. Over the period under review, exports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2016 with an increase of 17%. Over the period under review, the global exports reached the maximum at $315M in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports By Country

China represented the main exporter of glass electrical insulators in the world, with the volume of exports resulting at 19M units, which was near 33% of total exports in 2022. Russia (9.7M units) took the second position in the ranking, followed by Italy (8.9M units), Ukraine (6.4M units), Spain (4.4M units) and the United States (4.1M units). All these countries together held near 58% share of total exports. Canada (1.8M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +9.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest glass electrical insulator supplying countries worldwide were China ($80M), Italy ($52M) and Spain ($25M), together comprising 69% of global exports. Russia, Ukraine, the United States and Canada lagged somewhat behind, together comprising a further 21%.

Among the main exporting countries, the United States, with a CAGR of +9.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average glass electrical insulator export price amounted to $4 per unit, increasing by 32% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass electrical insulator export price increased by +87.8% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 55% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

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 Italy ($5.9 per unit), while Ukraine ($1.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform