Latin America and the Caribbean: Electrical Insulating Fittings Market 2025

Electrical Insulating Fittings Market Size in Latin America and the Caribbean

In 2022, the Latin American electrical insulating fittings market increased by 2.2% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Electrical Insulating Fittings Production in Latin America and the Caribbean

In value terms, electrical insulating fittings production contracted to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.9% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 54%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Electrical Insulating Fittings Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of electrical insulating fittings of plastics increased by 20% to X tons, rising for the third year in a row after three years of decline. In general, exports, however, saw a mild curtailment. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, electrical insulating fittings exports reduced modestly to $X in 2022. Overall, exports, however, continue to indicate a perceptible setback. The pace of growth was the most pronounced in 2013 with an increase of 28%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mexico was the main exporting country with an export of about X tons, which resulted at 69% of total exports. It was distantly followed by Brazil (X tons), mixing up a 25% share of total exports. Honduras (X tons) held a little share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of electrical insulating fittings of plastics. At the same time, Honduras (+3.5%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +3.5% from 2012-2022. By contrast, Brazil (-3.0%) illustrated a downward trend over the same period. While the share of Mexico (+5.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-3.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest electrical insulating fittings supplier in Latin America and the Caribbean, comprising 62% of total exports. The second position in the ranking was held by Brazil ($X), with a 27% share of total exports.

In Mexico, electrical insulating fittings exports declined by an average annual rate of -3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (-7.6% per year) and Honduras (+5.4% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, waning by -17.9% against the previous year. Over the period under review, the export price recorded a pronounced contraction. The pace of growth appeared the most rapid in 2017 when the export price increased by 22%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, 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 Honduras ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+1.8%), while the other leaders experienced a decline in the export price figures.

Electrical Insulating Fittings Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of electrical insulating fittings of plastics increased by 49% to X tons, rising for the second year in a row after seven years of decline. In general, imports, however, showed a perceptible reduction. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, electrical insulating fittings imports totaled $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Mexico prevails in imports structure, reaching X tons, which was approx. 79% of total imports in 2022. It was distantly followed by Brazil (X tons), creating an 8.6% share of total imports. Argentina (X tons), Paraguay (X tons) and Chile (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to electrical insulating fittings imports into Mexico stood at -2.2%. At the same time, Paraguay (+42.2%) and Chile (+5.2%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +42.2% from 2012-2022. By contrast, Argentina (-1.7%) and Brazil (-7.4%) illustrated a downward trend over the same period. Mexico (+5.8 p.p.) and Paraguay (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Brazil saw its share reduced by -5.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported electrical insulating fittings of plastics in Latin America and the Caribbean, comprising 76% of total imports. The second position in the ranking was taken by Brazil ($X), with a 9.8% share of total imports. It was followed by Argentina, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value in Mexico was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-8.1% per year) and Argentina (+1.2% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, waning by -29.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by 11% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+19.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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