ASEAN: Insulating Fittings Market 2024

Insulating Fittings Market Size in ASEAN

In 2022, after three years of decline, there was significant growth in the ASEAN insulating fittings market, when its value increased by X% to $X. In general, consumption showed mild growth. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Insulating Fittings Production in ASEAN

In value terms, insulating fittings production reached $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Insulating Fittings Exports

Exports in ASEAN

In 2022, insulating fittings exports in ASEAN stood at X tons, with an increase of X% on 2021 figures. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, insulating fittings exports stood at $X in 2022. In general, exports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of insulating fittings for electrical purposes, namely Thailand, represented more than two-thirds of total export.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of insulating fittings for electrical purposes. From 2012 to 2022, the share of Thailand increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) also remains the largest insulating fittings supplier in ASEAN.

In Thailand, insulating fittings exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to X% per year.

Insulating Fittings Imports

Imports in ASEAN

After two years of decline, overseas purchases of insulating fittings for electrical purposes increased by X% to X tons in 2022. Over the period under review, imports, however, continue to indicate a mild contraction. The pace of growth appeared the most rapid 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 remained at a somewhat lower figure.

In value terms, insulating fittings imports soared to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The Philippines represented the largest importer of insulating fittings for electrical purposes in ASEAN, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Malaysia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%), Thailand (X%) and Singapore (X%). Cambodia (X tons) and Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to insulating fittings imports into the Philippines stood at X%. At the same time, Myanmar (X%), Thailand (X%), Singapore (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) and Cambodia (X%) illustrated a downward trend over the same period. Thailand (X p.p.), Malaysia (X p.p.), Singapore (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Cambodia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest insulating fittings importing markets in ASEAN were Singapore ($X), Malaysia ($X) and Thailand ($X), together accounting for X% of total imports.

Among the main importing countries, Thailand, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of import peaked 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 Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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