ASEAN: Electrical Insulating Fittings Market 2025

Electrical Insulating Fittings Market Size in ASEAN

The ASEAN electrical insulating fittings market reduced modestly to $X in 2022, falling by -4.7% against the previous year. Overall, consumption, however, continues to indicate buoyant growth. Over the period under review, the market reached the maximum level at $X in 2021, and then fell modestly in the following year.

Electrical Insulating Fittings Production in ASEAN

In value terms, electrical insulating fittings production fell slightly to $X in 2022 estimated in export price. In general, production, however, posted a resilient expansion. The growth pace was the most rapid in 2014 with an increase of 70% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Electrical Insulating Fittings Exports

Exports in ASEAN

In 2022, exports of electrical insulating fittings of plastics in ASEAN reduced to X tons, shrinking by -7.6% on 2021. In general, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 35%. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, electrical insulating fittings exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2016 with an increase of 39%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

Thailand was the largest exporting country with an export of around X tons, which reached 63% of total exports. Vietnam (X tons) ranks second in terms of the total exports with an 18% share, followed by Singapore (11%) and Malaysia (6%).

From 2012 to 2022, average annual rates of growth with regard to electrical insulating fittings exports from Thailand stood at +6.6%. At the same time, Vietnam (+22.6%) and Singapore (+5.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +22.6% from 2012-2022. Malaysia experienced a relatively flat trend pattern. Vietnam (+14 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest electrical insulating fittings supplier in ASEAN, comprising 58% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 22% share of total exports. It was followed by Singapore, with a 16% share.

In Thailand, electrical insulating fittings exports increased at an average annual rate of +6.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+28.1% per year) and Singapore (+9.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by 2% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2015 an increase of 14%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a 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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.5%), while the other leaders experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports in ASEAN

In 2022, electrical insulating fittings imports in ASEAN declined to X tons, reducing by -11.6% against the previous year's figure. Overall, imports, however, showed a measured expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 93% against the previous year. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, electrical insulating fittings imports contracted to $X in 2022. Over the period under review, imports, however, recorded a measured increase. The most prominent rate of growth was recorded in 2021 when imports increased by 102%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

The purchases of the five major importers of electrical insulating fittings of plastics, namely Thailand, Vietnam, the Philippines, Indonesia and Singapore, represented more than two-thirds of total import. It was distantly followed by Malaysia (X tons), generating a 6.1% share of total imports. Cambodia (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +37.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical insulating fittings importing markets in ASEAN were Thailand ($X), Vietnam ($X) and Singapore ($X), with a combined 69% share of total imports. The Philippines, Indonesia, Malaysia and Cambodia lagged somewhat behind, together accounting for a further 31%.

Cambodia, with a CAGR of +42.1%, saw 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

The import price in ASEAN stood at $X per ton in 2022, surging by 2.4% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 17% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform