Asia: Electrical Fuse Market 2024

Electrical Fuse Market Size in Asia

In 2021, the Asian electrical fuse market decreased by -0.7% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, continues to indicate a slight setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Electrical Fuse Production in Asia

In value terms, electrical fuse production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2015 when the production volume increased by 8.4%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Electrical Fuse Exports

Exports in Asia

After two years of decline, overseas shipments of electrical fuses increased by 21% to X tons in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, electrical fuse exports surged to $X in 2021. The total export value increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) was the largest exporter of electrical fuses, achieving 48% of total exports. It was distantly followed by Hong Kong SAR (X tons), Japan (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons), together generating a 33% share of total exports. The Philippines (X tons) and Singapore (X tons) held a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of electrical fuses. At the same time, the Philippines (+10.1%), Taiwan (Chinese) (+9.7%), Thailand (+3.6%) and Hong Kong SAR (+2.8%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +10.1% from 2012-2021. Singapore and Japan experienced a relatively flat trend pattern. Taiwan (Chinese) (+3.2 p.p.), Hong Kong SAR (+2.8 p.p.), the Philippines (+2.2 p.p.) and Thailand (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X), China ($X) and Japan ($X) were the countries with the highest levels of exports in 2021, together accounting for 64% of total exports. These countries were followed by Taiwan (Chinese), the Philippines, Thailand and Singapore, which together accounted for a further 24%.

In terms of the main exporting countries, Taiwan (Chinese), with a CAGR of +12.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +3.7%. The pace of growth was the most pronounced in 2020 when the export price increased by 19% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the other leaders experienced more modest paces of growth.

Electrical Fuse Imports

Imports in Asia

In 2021, supplies from abroad of electrical fuses increased by 9.2% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.4% 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 2013 when imports increased by 69% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, electrical fuse imports soared to $X in 2021. The total import value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), Hong Kong SAR (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Malaysia (X tons), Vietnam (X tons), the Philippines (X tons), Singapore (X tons), India (X tons), Japan (X tons) and Iraq (X tons) represented the key importer of electrical fuses in Asia, creating 85% of total import.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +11.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electrical fuse importing markets in Asia were China ($X), Hong Kong SAR ($X) and South Korea ($X), with a combined 54% share of total imports. Vietnam, Japan, the Philippines, Thailand, Singapore, India, Malaysia, Indonesia and Iraq lagged somewhat behind, together comprising a further 37%.

The Philippines, with a CAGR of +17.4%, saw the highest rates of growth with regard to 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 Asia stood at $X per ton in 2021, jumping by 15% against the previous year. Import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical fuse import price increased by +90.4% against 2013 indices. The most prominent rate of growth was recorded in 2014 an increase of 29%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+13.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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