Asia: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Asia

The Asian glass electrical insulator market was finally on the rise to reach $X in 2021, after six years of decline. In general, consumption, however, recorded a pronounced reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Glass Electrical Insulator Production in Asia

In value terms, glass electrical insulator production expanded markedly to $X in 2021 estimated in export price. Overall, production, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2013 with an increase of 83%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Glass Electrical Insulator Exports

Exports in Asia

In 2021, after two years of growth, there was significant decline in overseas shipments of glass electrical insulators, when their volume decreased by -21.8% to X units. Over the period under review, exports continue to indicate a deep setback. The growth pace was the most rapid in 2013 when exports increased by 19% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass electrical insulator exports declined to $X in 2021. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by 24% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, finishing at X units, which was near 93% of total exports in 2021. The following exporters - Singapore (X units), Vietnam (X units) and Kazakhstan (X units) - each reached a 6.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glass electrical insulator exports from China stood at -7.8%. At the same time, Kazakhstan (+50.2%), Singapore (+22.9%) and Vietnam (+6.3%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +50.2% from 2012-2021. Singapore (+2.1 p.p.) and Kazakhstan (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -5.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass electrical insulator supplier in Asia, comprising 92% of total exports. The second position in the ranking was taken by Singapore ($X), with a 2.3% share of total exports. It was followed by Kazakhstan, with a 1.7% share.

In China, glass electrical insulator exports decreased by an average annual rate of -6.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (+16.4% per year) and Kazakhstan (+43.3% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, growing by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2016 when the export price increased by 21% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, 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 China ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.3%), while the other leaders experienced a decline in the export price figures.

Glass Electrical Insulator Imports

Imports in Asia

In 2021, supplies from abroad of glass electrical insulators decreased by -11.9% to X units, falling for the second year in a row after four years of growth. Over the period under review, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 47% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, glass electrical insulator imports stood at $X in 2021. Overall, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 35%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Vietnam (X units), followed by Turkey (X units), Indonesia (X units), Pakistan (X units), Thailand (X units), Iraq (X units) and Kazakhstan (X units) represented the largest importers of glass electrical insulators, together comprising 74% of total imports. Uzbekistan (X units), Azerbaijan (X units), Tajikistan (X units), Malaysia (X units) and Georgia (X units) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +75.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass electrical insulator importing markets in Asia were Pakistan ($X), Thailand ($X) and Vietnam ($X), together accounting for 31% of total imports.

Pakistan, with a CAGR of +63.5%, saw the highest growth rate of the value of imports, among 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 unit in 2021, growing by 30% against the previous year. In general, the import price, however, showed a slight contraction. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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