Singapore: Ceramic Electrical Insulator Market 2024

Ceramic Electrical Insulator Market Size in Singapore

The Singaporean ceramic electrical insulator market soared to $X in 2022, rising by 90% against the previous year. In general, consumption posted a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ceramic Electrical Insulator Production in Singapore

In value terms, ceramic electrical insulator production surged to $X in 2022 estimated in export price. Over the period under review, production saw a deep downturn. Ceramic electrical insulator production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Ceramic Electrical Insulator Exports

Exports from Singapore

In 2022, the amount of electrical insulators of ceramics exported from Singapore declined markedly to X units, which is down by -51.4% against the year before. Overall, exports continue to indicate a sharp reduction. The smallest decline of -8.1% was in 2021. Over the period under review, the exports attained the maximum at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, ceramic electrical insulator exports surged to $X in 2022. Over the period under review, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 36%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X units), Malaysia (X units) and Sri Lanka (X units) were the main destinations of ceramic electrical insulator exports from Singapore.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +62.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Thailand ($X) constituted the largest markets for ceramic electrical insulator exported from Singapore worldwide, with a combined 46% share of total exports. Hong Kong SAR, Sri Lanka, India, the United States, Vietnam, Taiwan (Chinese), the Philippines and China lagged somewhat behind, together accounting for a further 13%.

Sri Lanka, with a CAGR of +63.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ceramic electrical insulator export price stood at $X per unit in 2022, picking up by 141% against the previous year. Over the period under review, the export price saw a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+49.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ceramic Electrical Insulator Imports

Imports into Singapore

For the third year in a row, Singapore recorded growth in supplies from abroad of electrical insulators of ceramics, which increased by 144% to X units in 2022. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 828% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, ceramic electrical insulator imports reduced sharply to $X in 2022. Overall, imports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2021 when imports increased by 43% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Italy (X units) were the main suppliers of ceramic electrical insulator imports to Singapore, together accounting for 51% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +1.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest ceramic electrical insulator suppliers to Singapore were the United States ($X), Italy ($X) and China ($X), with a combined 50% share of total imports.

Italy, with a CAGR of -0.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average ceramic electrical insulator import price stood at $X per unit in 2022, with a decrease of -69.4% against the previous year. Over the period under review, the import price saw a dramatic setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 500% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :