Puerto Rico: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in Puerto Rico

The Puerto Rican electric heating resistor market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, showed a mild decline. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Electric Heating Resistor Production in Puerto Rico

In value terms, electric heating resistor production reached $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 104%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Electric Heating Resistor Exports

Exports from Puerto Rico

In 2021, approx. less than X units of electric heating resistors were exported from Puerto Rico; almost unchanged from 2020. Overall, exports continue to indicate a relatively flat trend pattern.

In value terms, electric heating resistor exports stood at less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Exports by Country

China was the major exporting country with an export of around X units, which reached 31% of total exports. Mexico (X units) took the second position in the ranking, followed by Poland (X units), Romania (X units), Turkey (X units) and Italy (X units). All these countries together took near 38% share of total exports. Spain (X units), Germany (X units), Vietnam (X units), Sweden (X units), Serbia (X units), South Korea (X units) and the United States (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the electric heating resistors exports, with a CAGR of +22.1% from 2012 to 2021. At the same time, Serbia (+15.6%), Poland (+14.6%), Vietnam (+12.8%), Turkey (+8.5%), South Korea (+4.3%), Mexico (+3.8%), Spain (+3.8%), Sweden (+2.7%), Germany (+2.2%) and Romania (+1.4%) displayed positive paces of growth. Italy experienced a relatively flat trend pattern. By contrast, the United States (-8.5%) illustrated a downward trend over the same period. China (+22 p.p.) and Poland (+3.9 p.p.) significantly strengthened its position in terms of the global exports, while Mexico, Romania, Italy and the United States saw its share reduced by -3.4%, -4.1%, -4.2% and -4.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Germany ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 37% of total exports. Mexico, Vietnam, Italy, Poland, Romania, South Korea, Spain, Serbia, Sweden and Turkey lagged somewhat behind, together comprising a further 35%.

Vietnam, with a CAGR of +18.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per thousand units, flattening at the previous year. Overall, the export price saw a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per thousand units), while Turkey ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+15.2%), while the other leaders experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports into Puerto Rico

In 2021, the amount of electric heating resistors imported into Puerto Rico amounted to less than X units, approximately mirroring 2020. In general, imports showed a relatively flat trend pattern.

In value terms, electric heating resistor imports amounted to less than $X in 2021. Overall, imports recorded a relatively flat trend pattern.

Imports by Country

The countries with the highest levels of electric heating resistor imports in 2021 were Russia (X units), Italy (X units), Germany (X units), Turkey (X units), Mexico (X units), the United States (X units), South Korea (X units), Poland (X units), Thailand (X units), Japan (X units), China (X units) and France (X units), together recording 63% of total import. Spain (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +18.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electric heating resistor importing markets into Puerto Rico were the United States ($X), China ($X) and Germany ($X), with a combined 33% share of total imports. These countries were followed by Mexico, South Korea, Japan, Italy, Russia, Turkey, Poland, France, Thailand and Spain, which together accounted for a further 34%.

South Korea, with a CAGR of +9.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per thousand units, standing approx. at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per thousand units), while Russia ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+15.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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