Uruguay: Insulating Fittings Market 2025

Insulating Fittings Market Size in Uruguay

After four years of growth, the Uruguayan insulating fittings market decreased by -6.7% to $X in 2021. Over the period under review, consumption, however, recorded buoyant growth. Insulating fittings consumption peaked at $X in 2020, and then shrank in the following year.

Insulating Fittings Production in Uruguay

In value terms, insulating fittings production dropped to $X in 2021 estimated in export price. Overall, production, however, continues to indicate resilient growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 60% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Insulating Fittings Exports

Exports from Uruguay

For the fourth year in a row, Uruguay recorded decline in overseas shipments of insulating fittings for electrical purposes, which decreased by 0% to X kg in 2021. In general, exports recorded a dramatic shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 40% against the previous year. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, insulating fittings exports rose markedly to $X in 2021. Over the period under review, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 24% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

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

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of -12.0%).

In value terms, Spain ($X), the Dominican Republic ($X) and Bolivia ($X) appeared to be the largest markets for insulating fittings exported from Uruguay worldwide, with a combined 100% share of total exports.

Spain, with a CAGR of -3.5%, 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 a decline.

Export Prices by Country

In 2021, the average insulating fittings export price amounted to $X per ton, surging by 5.6% against the previous year. In general, the export price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 an increase of 89% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Spain ($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 Argentina (+84.9%), while the prices for the other major destinations experienced more modest paces of growth.

Insulating Fittings Imports

Imports into Uruguay

In 2021, the amount of insulating fittings for electrical purposes imported into Uruguay shrank remarkably to X tons, with a decrease of -35.1% on the year before. In general, imports, however, enjoyed a tangible increase. The pace of growth appeared the most rapid in 2019 when imports increased by 611%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, insulating fittings imports reduced remarkably to $X in 2021. Over the period under review, imports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2019 when imports increased by 447%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of insulating fittings to Uruguay, with a 54% share of total imports. Moreover, insulating fittings imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), sixfold. Spain (X kg) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +21.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+71.3% per year) and Spain (+5.4% per year).

In value terms, the largest insulating fittings suppliers to Uruguay were Spain ($X), China ($X) and France ($X), together accounting for 51% of total imports.

France, with a CAGR of +37.6%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, reducing by -2.2% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, insulating fittings import price increased by +66.1% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 70%. As a result, import price reached the peak level of $X per ton, and then declined modestly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+21.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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