Peru: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in Peru

After two years of growth, the Peruvian electrical insulating fittings market decreased by -9.7% to $X in 2022. Overall, consumption continues to indicate a deep slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Electrical Insulating Fittings Exports

Exports from Peru

In 2022, the amount of electrical insulating fittings of plastics exported from Peru surged to X tons, picking up by 39% against 2021. Overall, exports, however, saw a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 91% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, electrical insulating fittings exports soared to $X in 2022. Over the period under review, exports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 93% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for electrical insulating fittings exports from Peru, accounting for a 72% share of total exports. Moreover, electrical insulating fittings exports to Ecuador exceeded the volume sent to the second major destination, Bolivia (X tons), fivefold. The United States (X tons) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador stood at -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+1.7% per year) and the United States (+14.1% per year).

In value terms, Ecuador ($X) remains the key foreign market for electrical insulating fittings of plastics exports from Peru, comprising 56% of total exports. The second position in the ranking was held by the United States ($X), with a 25% share of total exports. It was followed by Bolivia, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador amounted to -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+15.6% per year) and Bolivia (-4.3% per year).

Export Prices by Country

The average electrical insulating fittings export price stood at $X per ton in 2022, surging by 14% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

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 the United States ($X per ton), while the average price for exports to Bolivia ($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 Colombia (+8.5%), while the prices for the other major destinations experienced mixed trend patterns.

Electrical Insulating Fittings Imports

Imports into Peru

In 2022, supplies from abroad of electrical insulating fittings of plastics decreased by -1.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports showed a deep setback. The growth pace was the most rapid in 2020 when imports increased by 92%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, electrical insulating fittings imports declined to $X in 2022. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 87%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of electrical insulating fittings imports to Peru, with a combined 69% share of total imports. The United States, India, Spain, Poland and Mexico lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +79.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and China ($X) constituted the largest electrical insulating fittings suppliers to Peru, together accounting for 64% of total imports. The United States, India, Mexico, Spain and Poland lagged somewhat behind, together comprising a further 32%.

In terms of the main suppliers, Poland, with a CAGR of +60.0%, 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, waning by -5.9% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 26%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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