Portugal: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in Portugal

The Portuguese electrical insulating fittings market declined to $X in 2022, reducing by -9.4% against the previous year. Overall, consumption, however, continues to indicate a prominent expansion. Electrical insulating fittings consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Electrical Insulating Fittings Production in Portugal

In value terms, electrical insulating fittings production declined to $X in 2022 estimated in export price. In general, production, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2015 when the production volume increased by 39%. Electrical insulating fittings production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Electrical Insulating Fittings Exports

Exports from Portugal

In 2022, electrical insulating fittings exports from Portugal surged to X tons, growing by 133% on the previous year. Over the period under review, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 191% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, electrical insulating fittings exports soared to $X in 2022. In general, exports saw a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Tunisia (X tons) and Poland (X tons) were the main destinations of electrical insulating fittings exports from Portugal, together accounting for 42% of total exports. China, Morocco, Germany, Italy, Mexico, Bulgaria, Spain, Romania, Nicaragua and Angola lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +137.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Tunisia ($X) emerged as the key foreign market for electrical insulating fittings of plastics exports from Portugal, comprising 27% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by Poland, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Tunisia stood at +56.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+35.7% per year) and Poland (+33.0% per year).

Export Prices by Country

In 2022, the average electrical insulating fittings export price amounted to $X per ton, approximately equating the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 export price increased by +3.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 45% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while the average price for exports to Angola ($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 Bulgaria (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports into Portugal

In 2022, the amount of electrical insulating fittings of plastics imported into Portugal expanded markedly to X tons, surging by 7.5% on 2021. In general, imports posted a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 73%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, electrical insulating fittings imports expanded notably to $X in 2022. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Spain (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of electrical insulating fittings imports to Portugal, with a combined 65% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +103.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of electrical insulating fittings of plastics to Portugal, comprising 37% of total imports. The second position in the ranking was taken by Poland ($X), with a 12% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+108.5% per year) and Spain (+9.7% per year).

Import Prices by Country

In 2022, the average electrical insulating fittings import price amounted to $X per ton, with an increase of 5.2% against the previous year. In general, the import price, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2016 an increase of 30%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Japan ($X per ton), while the price for Spain ($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 Czech Republic (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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