South-Eastern Asia: Insulating Fittings Market 2024

Insulating Fittings Market Size in South-Eastern Asia

In 2021, the Southeast Asian insulating fittings market decreased by -2.9% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, showed a noticeable decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Insulating Fittings Production in South-Eastern Asia

In value terms, insulating fittings production contracted to $X in 2021 estimated in export price. Over the period under review, production saw a deep downturn. The pace of growth appeared the most rapid in 2020 with an increase of 12%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Insulating Fittings Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of insulating fittings for electrical purposes increased by 1.5% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 113% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, insulating fittings exports soared to $X in 2021. Over the period under review, exports, however, recorded a perceptible contraction. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand prevails in exports structure, resulting at X tons, which was approx. 95% of total exports in 2021. Singapore (X tons) followed a long way behind the leaders.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of insulating fittings for electrical purposes. Singapore (-9.9%) illustrated a downward trend over the same period. While the share of Thailand (+4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-3.6 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest insulating fittings supplier in South-Eastern Asia, comprising 63% of total exports. The second position in the ranking was held by Singapore ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Thailand was relatively modest.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, surging by 24% against the previous year. Over the period under review, the export price, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2019 when the export price increased by 94%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.5%).

Insulating Fittings Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of insulating fittings for electrical purposes was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 13% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, insulating fittings imports rose significantly to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 26%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Philippines was the largest importing country with an import of around X tons, which recorded 39% of total imports. Malaysia (X tons) took the second position in the ranking, followed by Thailand (X tons), Indonesia (X tons), Singapore (X tons) and Myanmar (X tons). All these countries together took near 56% share of total imports. Vietnam (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to insulating fittings imports into the Philippines stood at -1.9%. At the same time, Myanmar (+49.6%), Thailand (+11.5%), Malaysia (+5.5%), Singapore (+2.2%) and Vietnam (+1.9%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +49.6% from 2012-2021. By contrast, Indonesia (-10.9%) illustrated a downward trend over the same period. Thailand (+7.6 p.p.), Malaysia (+7.3 p.p.) and Myanmar (+6.9 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines and Indonesia saw its share reduced by -7.5% and -18.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest insulating fittings importing markets in South-Eastern Asia were Singapore ($X), Malaysia ($X) and Thailand ($X), with a combined 60% share of total imports. These countries were followed by the Philippines, Indonesia, Vietnam and Myanmar, which together accounted for a further 38%.

Among the main importing countries, Myanmar, with a CAGR of +21.2%, saw the highest growth rate of 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 import price in South-Eastern Asia stood at $X per ton in 2021, shrinking by -5.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 18% against the previous year. The level of import peaked at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :