Thailand: Electrical Fuse Market 2024

Electrical Fuse Market Size in Thailand

In 2021, the Thai electrical fuse market decreased by -8% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption continues to indicate a perceptible reduction. Electrical fuse consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Electrical Fuse Production in Thailand

In value terms, electrical fuse production expanded notably to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 15% against the previous year. Electrical fuse production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Electrical Fuse Exports

Exports from Thailand

In 2021, approx. X tons of electrical fuses were exported from Thailand; picking up by 18% against 2020 figures. The total export volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when exports increased by 33%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, electrical fuse exports surged to $X in 2021. Overall, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +60.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 33% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Saudi Arabia (X tons), Vietnam (X tons) and China (X tons) were the main destinations of electrical fuse exports from Thailand, with a combined 44% share of total exports. These countries were followed by Hong Kong SAR, Japan, the Netherlands, Indonesia, the Philippines, Mexico, the United Arab Emirates, Argentina, Taiwan (Chinese) and Cambodia, which together accounted for a further 43%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +95.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and Saudi Arabia ($X) were the largest markets for electrical fuse exported from Thailand worldwide, with a combined 41% share of total exports. These countries were followed by Japan, Vietnam, Indonesia, the Netherlands, the Philippines, Taiwan (Chinese), Argentina, Mexico, Cambodia and the United Arab Emirates, which together accounted for a further 45%.

The United Arab Emirates, with a CAGR of +84.9%, recorded the highest growth rate of the value of exports, in terms of 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

In 2021, the average electrical fuse export price amounted to $X per ton, growing by 1.9% against the previous year. In general, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical fuse export price increased by +72.6% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 32%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Fuse Imports

Imports into Thailand

In 2021, after three years of growth, there was significant decline in purchases abroad of electrical fuses, when their volume decreased by -37.6% to X tons. Over the period under review, imports, however, showed a temperate increase. The pace of growth was the most pronounced in 2018 when imports increased by 75% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then reduced notably in the following year.

In value terms, electrical fuse imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 17%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of electrical fuse to Thailand, with a 74% share of total imports. Moreover, electrical fuse imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.1% per year) and Taiwan (Chinese) (+10.4% per year).

In value terms, the largest electrical fuse suppliers to Thailand were China ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising 70% of total imports.

Taiwan (Chinese), with a CAGR of +15.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical fuse import price stood at $X per ton in 2021, surging by 80% against the previous year. In general, the import price showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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