Eastern Europe: Insulating Fittings Market 2024

Insulating Fittings Market Size in Eastern Europe

The East European insulating fittings market dropped slightly to $X in 2021, which is down by -3.4% against the previous year. Over the period under review, consumption saw a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of 5.6%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Insulating Fittings Production in Eastern Europe

In value terms, insulating fittings production declined to $X in 2021 estimated in export price. In general, production showed a abrupt setback. The growth pace was the most rapid in 2017 with an increase of 12% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Insulating Fittings Exports

Exports in Eastern Europe

In 2021, shipments abroad of insulating fittings for electrical purposes increased by 23% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by 57%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, insulating fittings exports skyrocketed to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +33.0% against 2019 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 48%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Poland represented the largest exporting country with an export of about X tons, which resulted at 46% of total exports. It was distantly followed by the Czech Republic (X tons), Hungary (X tons), Bulgaria (X tons), Russia (X tons) and Ukraine (X tons), together comprising a 46% share of total exports. Estonia (X tons) held a relatively small share of total exports.

Exports from Poland increased at an average annual rate of +58.4% from 2012 to 2021. At the same time, Bulgaria (+72.3%), Hungary (+40.6%), Estonia (+14.2%), Ukraine (+11.9%), Russia (+9.0%) and the Czech Republic (+7.6%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +72.3% from 2012-2021. From 2012 to 2021, the share of Poland, Bulgaria and Hungary increased by +44, +7.5 and +7.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest insulating fittings supplier in Eastern Europe, comprising 48% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 16% share of total exports. It was followed by Bulgaria, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value in Poland amounted to +54.2%. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (+5.9% per year) and Bulgaria (+60.0% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, rising by 2.5% against the previous year. Over the period under review, the export price, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2020 when the export price increased by 3.7%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 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 Ukraine ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Insulating Fittings Imports

Imports in Eastern Europe

In 2021, overseas purchases of insulating fittings for electrical purposes increased by 17% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 24%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, insulating fittings imports surged to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when imports increased by 24% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the six major importers of insulating fittings for electrical purposes, namely Poland, Romania, Slovakia, Russia, the Czech Republic and Bulgaria, represented more than two-thirds of total import. It was distantly followed by Hungary (X tons), committing a 6.1% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +23.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest insulating fittings importing markets in Eastern Europe were Romania ($X), the Czech Republic ($X) and Poland ($X), together comprising 52% of total imports. These countries were followed by Hungary, Russia, Slovakia and Bulgaria, which together accounted for a further 35%.

Bulgaria, with a CAGR of +16.0%, saw the highest growth rate of the value of imports, in terms of 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 Eastern Europe amounted to $X per ton, flattening at the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2017 when the import price increased by 21% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat 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 Hungary ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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