Malaysia: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in Malaysia

The Malaysian electrical insulating fittings market declined to $X in 2022, which is down by -14.6% against the previous year. Overall, consumption, however, recorded a resilient increase. Electrical insulating fittings consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Electrical Insulating Fittings Production in Malaysia

In value terms, electrical insulating fittings production fell dramatically to $X in 2022 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 128% against the previous year. Electrical insulating fittings production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Electrical Insulating Fittings Exports

Exports from Malaysia

Electrical insulating fittings exports from Malaysia shrank significantly to X tons in 2022, falling by -19.8% compared with 2021 figures. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 279%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, electrical insulating fittings exports dropped to $X in 2022. Over the period under review, exports continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2014 when exports increased by 325% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) was the main destination for electrical insulating fittings exports from Malaysia, accounting for a 51% share of total exports. Moreover, electrical insulating fittings exports to Singapore exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was taken by Mexico (X tons), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at +41.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-2.5% per year) and Mexico (+5.2% per year).

In value terms, Singapore ($X) emerged as the key foreign market for electrical insulating fittings of plastics exports from Malaysia, comprising 54% of total exports. The second position in the ranking was taken by China ($X), with a 15% share of total exports. It was followed by Germany, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore totaled +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-9.1% per year) and Germany (+5.8% per year).

Export Prices by Country

The average electrical insulating fittings export price stood at $X per ton in 2022, increasing by 14% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 34%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Qatar ($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 the Czech Republic (-3.8%), while the prices for the other major destinations experienced a decline.

Electrical Insulating Fittings Imports

Imports into Malaysia

In 2022, the amount of electrical insulating fittings of plastics imported into Malaysia reduced modestly to X tons, waning by -4.5% compared with the previous year. In general, total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.7% 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 -7.0% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 71% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, electrical insulating fittings imports shrank to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.4% against 2015 indices. The pace of growth was the most pronounced in 2013 when imports increased by 61% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

China (X tons), South Korea (X tons) and Germany (X tons) were the main suppliers of electrical insulating fittings imports to Malaysia, together accounting for 60% of total imports. India, Singapore, Hong Kong SAR and Japan lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +17.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and South Korea ($X) appeared to be the largest electrical insulating fittings suppliers to Malaysia, with a combined 47% share of total imports. Singapore, Hong Kong SAR, Japan and India lagged somewhat behind, together accounting for a further 29%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of +23.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical insulating fittings import price stood at $X per ton in 2022, with a decrease of -9.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2014 when the average import price increased by 52% against the previous year. The import price peaked at $X per ton in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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