Middle East: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in the Middle East

The Middle Eastern electrical insulating fittings market fell modestly to $X in 2022, dropping by -2.6% against the previous year. Over the period under review, consumption recorded a remarkable increase. 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 the Middle East

In value terms, electrical insulating fittings production shrank to $X in 2022 estimated in export price. In general, production posted a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 76% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Electrical Insulating Fittings Exports

Exports in the Middle East

In 2022, overseas shipments of electrical insulating fittings of plastics increased by 2.4% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +20.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 41% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical insulating fittings exports rose sharply to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 54%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) and Turkey (X tons) represented roughly 99% of total exports in 2022.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +7.3%).

In value terms, the United Arab Emirates ($X) and Turkey ($X) constituted the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +15.3%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, increasing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.9%. The growth pace was the most rapid in 2016 an increase of 28% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.5%).

Electrical Insulating Fittings Imports

Imports in the Middle East

In 2022, approx. X tons of electrical insulating fittings of plastics were imported in the Middle East; surging by 27% against 2021 figures. The total import volume increased at an average annual rate of +1.9% 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 2015 with an increase of 42% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, electrical insulating fittings imports rose markedly to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +42.3% against 2019 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 61% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey represented the main importer of electrical insulating fittings of plastics in the Middle East, with the volume of imports amounting to X tons, which was near 47% of total imports in 2022. Saudi Arabia (X tons) took a 29% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (17%). Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of +6.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Turkey ($X) constitutes the largest market for imported electrical insulating fittings of plastics in the Middle East, comprising 68% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total imports. It was followed by Saudi Arabia, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +8.3%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+8.5% per year) and Saudi Arabia (+3.4% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, shrinking by -13.4% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electrical insulating fittings import price increased by +19.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 38% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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