Asia: Insulating Fittings Market 2024

Insulating Fittings Market Size in Asia

In 2022, the Asian insulating fittings market decreased by X% to $X, falling for the second consecutive year after six years of growth. In general, consumption, however, continues to indicate strong growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Insulating Fittings Production in Asia

In value terms, insulating fittings production amounted to $X in 2022 estimated in export price. In general, production enjoyed a prominent increase. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Insulating Fittings Exports

Exports in Asia

In 2022, overseas shipments of insulating fittings for electrical purposes increased by X% to X tons, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, insulating fittings exports expanded sharply to $X in 2022. Total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2014 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, China (X tons) represented the largest exporter of insulating fittings for electrical purposes, committing X% of total exports. Thailand (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons) and India (X tons). All these countries together took near X% share of total exports. Turkey (X tons) followed a long way behind the leaders.

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

In value terms, China ($X) remains the largest insulating fittings supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by India, with a X% share.

In China, insulating fittings exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, which is down by X% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, insulating fittings export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Insulating Fittings Imports

Imports in Asia

In 2022, purchases abroad of insulating fittings for electrical purposes was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports recorded a mild increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, insulating fittings imports totaled $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Saudi Arabia (X tons), distantly followed by the Philippines (X tons), the United Arab Emirates (X tons), India (X tons), Malaysia (X tons), South Korea (X tons), Indonesia (X tons) and Thailand (X tons) represented the major importers of insulating fittings for electrical purposes, together constituting X% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest insulating fittings importing markets in Asia were South Korea ($X), the United Arab Emirates ($X) and Malaysia ($X), together accounting for X% of total imports.

The United Arab Emirates, with a CAGR of X%, 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.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, falling by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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 South Korea ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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