Finland: Electrical Insulator Market 2024

Electrical Insulator Market Size in Finland

The Finnish electrical insulator market skyrocketed to $X in 2022, rising by 45% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.6% against 2020 indices. Electrical insulator consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Electrical Insulator Production in Finland

In value terms, electrical insulator production skyrocketed to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 807%. Electrical insulator production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Electrical Insulator Exports

Exports from Finland

In 2022, the amount of electrical insulators exported from Finland surged to X units, with an increase of 68% on 2021 figures. In general, exports recorded resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical insulator exports surged to $X in 2022. Overall, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 112% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The Netherlands (X units) was the main destination for electrical insulator exports from Finland, with a 31% share of total exports. Moreover, electrical insulator exports to the Netherlands exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was held by China (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+37.9% per year) and China (+20.6% per year).

In value terms, Estonia ($X) remains the key foreign market for electrical insulators exports from Finland, comprising 39% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia totaled +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+33.8% per year) and China (+16.3% per year).

Export Prices by Country

The average electrical insulator export price stood at $X per unit in 2022, with a decrease of -23.4% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 85% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulator Imports

Imports into Finland

In 2022, imports of electrical insulators into Finland soared to X units, with an increase of 53% against 2021. In general, imports showed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 115% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, electrical insulator imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 34% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest electrical insulator supplier to Finland, accounting for a 71% share of total imports. Moreover, electrical insulator imports from China exceeded the figures recorded by the second-largest supplier, Canada (X units), more than tenfold. Estonia (X units) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+15.0% per year) and Estonia (+1.8% per year).

In value terms, the United States ($X), China ($X) and Estonia ($X) appeared to be the largest electrical insulator suppliers to Finland, together accounting for 36% of total imports. Italy, Poland, Portugal, Canada, Austria and Russia lagged somewhat behind, together accounting for a further 16%.

Portugal, with a CAGR of +15.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical insulator import price stood at $X per unit in 2022, with a decrease of -13.1% against the previous year. In general, the import price continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2014 an increase of 104% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+41.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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