Asia: Insulating Fittings Market 2025

Insulating Fittings Market Size in Asia

In 2021, the Asian insulating fittings market decreased by -7.8% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +57.5% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2020, and then shrank in the following year.

Insulating Fittings Production in Asia

In value terms, insulating fittings production shrank to $X in 2021 estimated in export price. Over the period under review, production enjoyed buoyant growth. The pace of growth appeared the most rapid in 2019 when the production volume increased by 22% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Insulating Fittings Exports

Exports in Asia

In 2021, shipments abroad of insulating fittings for electrical purposes increased by 26% to X tons, rising for the second year in a row after two years of decline. In general, exports showed a relatively flat trend pattern. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, insulating fittings exports surged to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.3% against 2014 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) and Thailand (X tons) represented roughly 78% of total exports in 2021. It was distantly followed by India (X tons), comprising a 10% share of total exports. Turkey (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +11.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest insulating fittings supplier in Asia, comprising 50% of total exports. The second position in the ranking was held by South Korea ($X), with an 8.8% share of total exports. It was followed by Thailand, with a 6% share.

In China, insulating fittings exports expanded at an average annual rate of +8.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+9.7% per year) and Thailand (-0.2% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, with a decrease of -5.8% against the previous year. Export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, insulating fittings export price decreased by -8.7% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by 32% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Thailand ($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 (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Insulating Fittings Imports

Imports in Asia

In 2021, insulating fittings imports in Asia totaled X tons, increasing by 13% against 2020 figures. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of 21%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, insulating fittings imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Saudi Arabia (X tons), the Philippines (X tons) and South Korea (X tons) represented the main importer of insulating fittings for electrical purposes in Asia, making up 47% of total import. Malaysia (X tons) took a 7.3% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (6.4%), India (5.7%) and Thailand (4.7%). Indonesia (X tons), Turkey (X tons), Singapore (X tons), China (X tons), Myanmar (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +49.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest insulating fittings importing markets in Asia were Taiwan (Chinese) ($X), China ($X) and South Korea ($X), with a combined 47% share of total imports. These countries were followed by India, Singapore, Saudi Arabia, Malaysia, Thailand, the Philippines, Indonesia, Turkey, the United Arab Emirates and Myanmar, which together accounted for a further 39%.

Myanmar, with a CAGR of +21.2%, recorded 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 ton in 2021, picking up by 15% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 19%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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