China: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in China

The Chinese electrical insulating fittings market reached $X in 2022, flattening at the previous year. Overall, consumption posted a resilient expansion. Electrical insulating fittings consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Electrical Insulating Fittings Production in China

In value terms, electrical insulating fittings production expanded to $X in 2022 estimated in export price. Over the period under review, production showed prominent growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 49%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Electrical Insulating Fittings Exports

Exports from China

In 2022, overseas shipments of electrical insulating fittings of plastics increased by 5.4% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, showed a pronounced downturn. The growth pace was the most rapid in 2017 when exports increased by 30%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, electrical insulating fittings exports expanded significantly to $X in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 34%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Japan (X tons), the United States (X tons) and Mexico (X tons) were the main destinations of electrical insulating fittings exports from China, with a combined 27% share of total exports. Vietnam, the Philippines, the Dominican Republic, Indonesia, South Korea, Russia, Thailand, Germany, Poland and India lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +57.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Vietnam ($X) constituted the largest markets for electrical insulating fittings exported from China worldwide, with a combined 29% share of total exports. Mexico, Thailand, the Philippines, Germany, South Korea, Indonesia, Russia, the Dominican Republic, India and Poland lagged somewhat behind, together comprising a further 37%.

Among the main countries of destination, the Dominican Republic, with a CAGR of +62.6%, recorded 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

The average electrical insulating fittings export price stood at $X per ton in 2022, growing by 1.6% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 20%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports into China

In 2022, after two years of growth, there was decline in purchases abroad of electrical insulating fittings of plastics, when their volume decreased by -2.4% to X tons. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 22% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, electrical insulating fittings imports dropped modestly to $X in 2022. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports reached the peak of $X, and then declined modestly in the following year.

Imports by Country

Japan (X tons), South Korea (X tons) and Germany (X tons) were the main suppliers of electrical insulating fittings imports to China, with a combined 59% share of total imports. Thailand, Vietnam, Hungary, Austria, the United States, Mexico, France, Malaysia and Singapore lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +37.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of electrical insulating fittings of plastics to China, comprising 35% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Germany, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan totaled -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-4.1% per year) and Germany (+3.1% per year).

Import Prices by Country

The average electrical insulating fittings import price stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 20% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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