Asia-Pacific: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Asia-Pacific

In 2021, the Asia-Pacific glass electrical insulator market was finally on the rise to reach $X for the first time since 2014, thus ending a six-year declining trend. Over the period under review, consumption, however, showed a perceptible descent. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Glass Electrical Insulator Production in Asia-Pacific

In value terms, glass electrical insulator production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 84% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Glass Electrical Insulator Exports

Exports in Asia-Pacific

After two years of growth, overseas shipments of glass electrical insulators decreased by -22.3% to X units in 2021. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 19%. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, glass electrical insulator exports fell to $X in 2021. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 23%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 95% of total exports in 2021. The following exporters - Singapore (X units) and Vietnam (X units) - each recorded a 4.5% share of total exports.

Exports from China decreased at an average annual rate of -7.8% from 2012 to 2021. At the same time, Singapore (+22.9%) and Vietnam (+6.3%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +22.9% from 2012-2021. From 2012 to 2021, the share of Singapore increased by +2.2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass electrical insulator supplier in Asia-Pacific, comprising 94% of total exports. The second position in the ranking was held by Singapore ($X), with a 2.3% share of total exports.

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 Vietnam (-14.0% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, increasing by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2016 an increase of 22% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the export prices failed to regain momentum.

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 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-Pacific

In 2021, purchases abroad of glass electrical insulators decreased by -12.8% to X units, falling for the second consecutive year after five years of growth. In general, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 82%. As a result, imports reached 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 fell to $X in 2021. Over the period under review, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 53%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Vietnam (X units), distantly followed by Indonesia (X units), Pakistan (X units), Thailand (X units) and Malaysia (X units) represented the largest importers of glass electrical insulators, together achieving 86% of total imports. Australia (X units) and Myanmar (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Pakistan (with a CAGR of +75.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass electrical insulator importing markets in Asia-Pacific were Pakistan ($X), Thailand ($X) and Vietnam ($X), with a combined 59% share of total imports.

Pakistan, with a CAGR of +63.5%, recorded the highest rates of growth with regard to 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

In 2021, the import price in Asia-Pacific amounted to $X per unit, rising by 13% against the previous year. Overall, the import price, however, continues to indicate a pronounced slump. The growth pace was the most rapid in 2020 when the import price increased by 25%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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