Thailand: Insulating Fittings Market 2025

Insulating Fittings Market Size in Thailand

The Thai insulating fittings market fell modestly to $X in 2021, with a decrease of -3.1% against the previous year. Overall, consumption recorded a noticeable contraction. Insulating fittings consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Insulating Fittings Production in Thailand

In value terms, insulating fittings production fell to $X in 2021 estimated in export price. Overall, production saw a perceptible decrease. The pace of growth was the most pronounced in 2020 when the production volume increased by 25% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Insulating Fittings Exports

Exports from Thailand

In 2021, insulating fittings exports from Thailand shrank slightly to X tons, approximately mirroring the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 127% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, insulating fittings exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons), Japan (X tons) and the Philippines (X tons) were the main destinations of insulating fittings exports from Thailand, together comprising 80% of total exports. The United States, South Korea, Egypt and Indonesia lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +159.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for insulating fittings exported from Thailand were Japan ($X), Saudi Arabia ($X) and the Philippines ($X), together comprising 76% of total exports. These countries were followed by the United States, South Korea, Indonesia and Egypt, which together accounted for a further 17%.

South Korea, with a CAGR of +151.7%, saw the highest rates of growth with regard to 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 insulating fittings export price amounted to $X per ton, surging by 19% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 129% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Indonesia ($X per ton), while the average price for exports to Egypt ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Insulating Fittings Imports

Imports into Thailand

In 2021, purchases abroad of insulating fittings for electrical purposes increased by 18% to X tons, rising for the fourth consecutive year after two years of decline. Overall, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 210%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, insulating fittings imports rose markedly to $X in 2021. Over the period under review, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 45%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of insulating fittings to Thailand, accounting for a 49% share of total imports. Moreover, insulating fittings imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. South Korea (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.5% per year) and South Korea (+9.9% per year).

In value terms, the largest insulating fittings suppliers to Thailand were Japan ($X), China ($X) and Vietnam ($X), with a combined 69% share of total imports. These countries were followed by Germany, Italy, Romania, South Korea and India, which together accounted for a further 13%.

Romania, with a CAGR of +167.3%, saw 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

In 2021, the average insulating fittings import price amounted to $X per ton, declining by -8.5% against the previous year. Over the period under review, the import price showed a pronounced slump. The pace of growth was the most pronounced in 2017 an increase of 179%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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