Spain: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Spain

In 2021, after six years of decline, there was significant growth in the Spanish glass electrical insulator market, when its value increased by 147% to $X. Overall, consumption showed a pronounced increase. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Glass Electrical Insulator Production in Spain

In value terms, glass electrical insulator production reduced modestly to $X in 2021 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +9.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +47.0% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 61% against the previous year. Glass electrical insulator production peaked at $X in 2020, and then contracted slightly in the following year.

Glass Electrical Insulator Exports

Exports from Spain

After four years of growth, overseas shipments of glass electrical insulators decreased by -17.9% to X units in 2021. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 94%. Over the period under review, the exports attained the maximum at X units in 2020, and then reduced sharply in the following year.

In value terms, glass electrical insulator exports dropped sharply to $X in 2021. In general, exports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by 74% against the previous year. The exports peaked at $X in 2020, and then contracted rapidly in the following year.

Exports by Country

Saudi Arabia (X units) was the main destination for glass electrical insulator exports from Spain, accounting for a 35% share of total exports. Moreover, glass electrical insulator exports to Saudi Arabia exceeded the volume sent to the second major destination, the United States (X units), fourfold. Libya (X units) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia stood at +447.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+125.6% per year) and Libya (-18.3% per year).

In value terms, Saudi Arabia ($X), France ($X) and the United States ($X) appeared to be the largest markets for glass electrical insulator exported from Spain worldwide, together comprising 39% of total exports. These countries were followed by Portugal, Libya, Italy, Indonesia, Mexico, Sri Lanka, Thailand, Chile and Algeria, which together accounted for a further 46%.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +1,639.4%, saw the highest growth rate of 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

In 2021, the average glass electrical insulator export price amounted to $X per unit, reducing by -5.1% against the previous year. In general, the export price continues to indicate a abrupt slump. The growth pace was the most rapid in 2016 an increase of 6%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+4.6%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Electrical Insulator Imports

Imports into Spain

After three years of growth, supplies from abroad of glass electrical insulators decreased by -55.8% to X units in 2021. Overall, imports showed a deep reduction. The pace of growth was the most pronounced in 2015 when imports increased by 85%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, glass electrical insulator imports plummeted to $X in 2021. Over the period under review, imports saw a deep slump. The pace of growth was the most pronounced in 2020 when imports increased by 49%. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

In 2021, Italy (X units) constituted the largest supplier of glass electrical insulator to Spain, with a 67% share of total imports. Moreover, glass electrical insulator imports from Italy exceeded the figures recorded by the second-largest supplier, Ukraine (X units), threefold. France (X units) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-9.0% per year) and France (+3.7% per year).

In value terms, Italy ($X) constituted the largest supplier of glass electrical insulators to Spain, comprising 49% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 12% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-10.2% per year) and Germany (+41.7% per year).

Import Prices by Country

The average glass electrical insulator import price stood at $X per unit in 2021, growing by 2.8% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 165%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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