Philippines: Electrical Insulating Fittings Market 2025

Electrical Insulating Fittings Market Size in the Philippines

In 2022, the Philippine electrical insulating fittings market decreased by -15.9% to $X for the first time since 2018, thus ending a three-year rising trend. In general, consumption, however, saw a notable increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Electrical Insulating Fittings Exports

Exports from the Philippines

In 2022, overseas shipments of electrical insulating fittings of plastics increased by 7.2% to X tons, rising for the third year in a row after two years of decline. In general, exports posted buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 5,911% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, electrical insulating fittings exports declined to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 8,226%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons), Japan (X tons) and Indonesia (X tons) were the main destinations of electrical insulating fittings exports from the Philippines, together accounting for 90% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +154.5%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Japan ($X) and Indonesia ($X) constituted the largest markets for electrical insulating fittings exported from the Philippines worldwide, together comprising 81% of total exports.

Among the main countries of destination, Hong Kong SAR, with a CAGR of +151.4%, recorded the highest rates of growth with regard to 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

The average electrical insulating fittings export price stood at $X per ton in 2022, falling by -14.2% against the previous year. Over the period under review, the export price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 an increase of 81% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to South Korea ($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 China (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports into the Philippines

In 2022, electrical insulating fittings imports into the Philippines dropped remarkably to X tons, which is down by -17% on the previous year. Overall, imports, however, enjoyed a modest increase. The pace of growth was the most pronounced in 2016 with an increase of 102%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, electrical insulating fittings imports shrank remarkably to $X in 2022. In general, imports, however, saw a tangible increase. The pace of growth appeared the most rapid in 2016 with an increase of 98% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of electrical insulating fittings to the Philippines, with a 45% share of total imports. Moreover, electrical insulating fittings imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.3% per year) and Thailand (-3.5% per year).

In value terms, Japan ($X) constituted the largest supplier of electrical insulating fittings of plastics to the Philippines, comprising 49% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Thailand, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.7% per year) and Thailand (-0.4% per year).

Import Prices by Country

In 2022, the average electrical insulating fittings import price amounted to $X per ton, growing by 2% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2017 an increase of 22%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($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 (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :