Japan: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in Japan

The Japanese electrical insulating fittings market shrank to $X in 2022, with a decrease of -4.5% against the previous year. Overall, consumption, however, enjoyed a remarkable increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Electrical Insulating Fittings Production in Japan

In value terms, electrical insulating fittings production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated temperate growth 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, production increased by +6.1% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 23% against the previous year. Electrical insulating fittings production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Electrical Insulating Fittings Exports

Exports from Japan

In 2022, exports of electrical insulating fittings of plastics from Japan contracted to X tons, which is down by -8.7% compared with the previous year's figure. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 15%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, electrical insulating fittings exports contracted rapidly to $X in 2022. In general, exports saw a slight decline. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Vietnam (X tons) and Indonesia (X tons) were the main destinations of electrical insulating fittings exports from Japan, together accounting for 47% of total exports. Mexico, Thailand, the Philippines, the United States, Turkey, India, Hong Kong SAR, Brazil and Belgium lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +11.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electrical insulating fittings exported from Japan were China ($X), Vietnam ($X) and Indonesia ($X), with a combined 49% share of total exports. Mexico, Thailand, the Philippines, the United States, Hong Kong SAR, Turkey, India, Brazil and Belgium lagged somewhat behind, together accounting for a further 43%.

In terms of the main countries of destination, India, with a CAGR of +7.5%, recorded the highest growth rate of 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

In 2022, the average electrical insulating fittings export price amounted to $X per ton, which is down by -8% against the previous year. Overall, the export price saw a perceptible setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 5.2%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Belgium ($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 Indonesia (-1.4%), while the prices for the other major destinations experienced a decline.

Electrical Insulating Fittings Imports

Imports into Japan

In 2022, approx. X tons of electrical insulating fittings of plastics were imported into Japan; reducing by -5.8% compared with the previous year. The total import volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 25%. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, electrical insulating fittings imports reduced to $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 32%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest electrical insulating fittings supplier to Japan, accounting for a 56% share of total imports. Moreover, electrical insulating fittings imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was held by Indonesia (X tons), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+35.2% per year) and Indonesia (+10.8% per year).

In value terms, China ($X) constituted the largest supplier of electrical insulating fittings of plastics to Japan, comprising 48% of total imports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total imports. It was followed by Vietnam, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+27.1% per year) and Vietnam (+75.9% per year).

Import Prices by Country

The average electrical insulating fittings import price stood at $X per ton in 2022, growing by 4.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 8.8%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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