U.S.: Electrical Insulating Fittings Market 2023

Electrical Insulating Fittings Market Size in the U.S.

In 2021, after nine years of growth, there was decline in the U.S. electrical insulating fittings market, when its value decreased by -4.6% to $X. Over the period under review, consumption, however, continues to indicate a resilient increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Electrical Insulating Fittings Production in the U.S.

In value terms, electrical insulating fittings production declined to $X in 2021. Over the period under review, production, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2018 when the production volume increased by 43% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then fell in the following year.

Electrical Insulating Fittings Exports

Exports from the U.S.

In 2021, overseas shipments of electrical insulating fittings of plastics were finally on the rise to reach X tons after six years of decline. Over the period under review, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 27% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, electrical insulating fittings exports soared to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 23%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for electrical insulating fittings exports from the United States, accounting for a 44% share of total exports. Moreover, electrical insulating fittings exports to China exceeded the volume sent to the second major destination, Mexico (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-27.6% per year) and Hong Kong SAR (+8.1% per year).

In value terms, Mexico ($X) remains the key foreign market for electrical insulating fittings exports from the United States, comprising 57% of total exports. The second position in the ranking was held by China ($X), with a 9.5% share of total exports. It was followed by Canada, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico stood at -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+29.8% per year) and Canada (+3.2% per year).

Export Prices by Country

In 2021, the average electrical insulating fittings export price amounted to $X per ton, with an increase of 16% against the previous year. In general, the export price saw a significant increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 314%. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Mexico ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+35.8%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports into the U.S.

Electrical insulating fittings imports into the United States skyrocketed to X tons in 2021, picking up by 19% compared with 2020 figures. In general, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +9.9% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 25%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, electrical insulating fittings imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 35%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of electrical insulating fittings imports to the United States, with a combined 64% share of total imports. These countries were followed by Taiwan (Chinese), Mexico, Switzerland, India, Canada and France, which together accounted for a further 27%.

From 2012 to 2021, the biggest increases were in Taiwan (Chinese) (with a CAGR of +21.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Germany ($X) appeared to be the largest electrical insulating fittings suppliers to the United States, together accounting for 54% of total imports. Mexico, Switzerland, Taiwan (Chinese), India, Canada and France lagged somewhat behind, together accounting for a further 30%.

Among the main suppliers, India, with a CAGR of +14.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical insulating fittings import price stood at $X per ton in 2021, dropping by -9.8% against the previous year. In general, the import price recorded a perceptible decrease. The growth pace was the most rapid in 2018 an increase of 8%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Canada ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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