Uruguay: Electrical Insulating Fittings Market 2024

Electrical Insulating Fittings Market Size in Uruguay

In 2022, the Uruguayan electrical insulating fittings market decreased by -5.2% to $X, falling for the second consecutive year after two years of growth. In general, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -36.1% against 2020 indices. Electrical insulating fittings consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Electrical Insulating Fittings Production in Uruguay

In value terms, electrical insulating fittings production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 128%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Electrical Insulating Fittings Exports

Exports from Uruguay

In 2022, the amount of electrical insulating fittings of plastics exported from Uruguay declined rapidly to X kg, reducing by -98.1% against 2021. In general, exports saw a sharp contraction. The most prominent rate of growth was recorded in 2014 with an increase of 784%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electrical insulating fittings exports reduced dramatically to $X in 2022. Overall, exports saw a dramatic shrinkage. The growth pace was the most rapid in 2014 with an increase of 681% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Free Zones (X kg) and Brazil (X kg) were the main destinations of electrical insulating fittings exports from Uruguay. Moreover, electrical insulating fittings exports in Free Zones exceeded the figures recorded by the second-largest exporter, Brazil, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Free Zones (with a CAGR of -4.0%).

In value terms, Free Zones ($X) emerged as the key foreign market for electrical insulating fittings of plastics exports from Uruguay, comprising 98% of total exports. The second position in the ranking was held by Brazil ($X), with a 1.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Free Zones stood at +9.8%.

Export Prices by Country

In 2022, the average electrical insulating fittings export price amounted to $X per ton, picking up by 199% against the previous year. Over the period under review, the export price recorded a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Free Zones ($X per ton), while the average price for exports to Brazil amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Insulating Fittings Imports

Imports into Uruguay

In 2022, approx. X tons of electrical insulating fittings of plastics were imported into Uruguay; increasing by 50% against the previous year's figure. In general, imports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 2,298%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, electrical insulating fittings imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2020 when imports increased by 3,074% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Argentina (X tons) and Brazil (X kg) were the main suppliers of electrical insulating fittings imports to Uruguay, together comprising 87% of total imports. Hong Kong SAR, Germany, Italy and the Czech Republic lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +48.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Germany ($X) and China ($X) constituted the largest electrical insulating fittings suppliers to Uruguay, together comprising 52% of total imports. Italy, Hong Kong SAR, Brazil and the Czech Republic lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, Italy, with a CAGR of +38.0%, recorded 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

In 2022, the average electrical insulating fittings import price amounted to $X per ton, surging by 11% against the previous year. In general, the import price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 46% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :