Bangladesh: Electrical Fuse Market 2024

Electrical Fuse Market Size in Bangladesh

The Bangladeshi electrical fuse market reduced modestly to $X in 2021, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a relatively flat trend pattern. Electrical fuse consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Electrical Fuse Exports

Exports from Bangladesh

After five years of decline, overseas shipments of electrical fuses increased by 80% to X kg in 2021. Overall, exports, however, showed a deep downturn. The growth pace was the most rapid in 2015 with an increase of 1,006%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical fuse exports contracted notably to $X in 2021. Over the period under review, exports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 109% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X kg) was the main destination for electrical fuse exports from Bangladesh, with a 68% share of total exports. Moreover, electrical fuse exports to Malaysia exceeded the volume sent to the second major destination, Spain (X kg), threefold. Saudi Arabia (X kg) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+4.4% per year) and Saudi Arabia (0.0% per year).

In value terms, Malaysia ($X) remains the key foreign market for electrical fuses exports from Bangladesh, comprising 90% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 4.5% share of total exports. It was followed by Spain, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (0.0% per year) and Spain (-20.7% per year).

Export Prices by Country

The average electrical fuse export price stood at $X per ton in 2021, falling by -68.1% against the previous year. Overall, the export price showed a abrupt descent. The pace of growth was the most pronounced in 2017 when the average export price increased by 85%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then contracted markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+22.7%), while the prices for the other major destinations experienced a decline.

Electrical Fuse Imports

Imports into Bangladesh

In 2021, supplies from abroad of electrical fuses increased by 3.8% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a mild curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 151%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, electrical fuse imports reduced to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 123% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest electrical fuse supplier to Bangladesh, accounting for a 88% share of total imports. Moreover, electrical fuse imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-3.4% per year) and the United States (+95.1% per year).

In value terms, China ($X), India ($X) and the United States ($X) were the largest electrical fuse suppliers to Bangladesh, together comprising 88% of total imports.

The United States, with a CAGR of +48.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average electrical fuse import price stood at $X per ton in 2021, reducing by -9.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2013 an increase of 38%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+12.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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