Vietnam: Electrical Insulating Fittings Market 2025

Electrical Insulating Fittings Market Size in Vietnam

The Vietnamese electrical insulating fittings market contracted remarkably to $X in 2022, dropping by -17.9% against the previous year. In general, consumption, however, posted a prominent increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped remarkably in the following year.

Electrical Insulating Fittings Production in Vietnam

In value terms, electrical insulating fittings production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 195% against the previous year. Electrical insulating fittings production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Electrical Insulating Fittings Exports

Exports from Vietnam

After six years of growth, overseas shipments of electrical insulating fittings of plastics decreased by -19.4% to X tons in 2022. In general, exports, however, showed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 619%. The exports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, electrical insulating fittings exports dropped dramatically to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 582%. The exports peaked at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

South Korea (X tons) was the main destination for electrical insulating fittings exports from Vietnam, with a 92% share of total exports. Moreover, electrical insulating fittings exports to South Korea exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea totaled +68.6%.

In value terms, South Korea ($X) remains the key foreign market for electrical insulating fittings of plastics exports from Vietnam, comprising 92% of total exports. The second position in the ranking was taken by Japan ($X), with a 5.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to South Korea totaled +68.3%.

Export Prices by Country

The average electrical insulating fittings export price stood at $X per ton in 2022, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +4.5%. The growth pace was the most rapid in 2013 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+4.1%), while the prices for the other major destinations experienced a decline.

Electrical Insulating Fittings Imports

Imports into Vietnam

In 2022, purchases abroad of electrical insulating fittings of plastics decreased by -43.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed notable growth. The most prominent rate of growth was recorded in 2021 with an increase of 636% against the previous year. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, electrical insulating fittings imports shrank remarkably to $X in 2022. Overall, imports, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2021 with an increase of 597% against the previous year. As a result, imports reached the peak of $X, and then dropped remarkably in the following year.

Imports by Country

South Korea (X tons), China (X tons) and Germany (X tons) were the main suppliers of electrical insulating fittings imports to Vietnam, together accounting for 75% of total imports. Japan, Spain, Mexico and Switzerland lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +193.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Germany ($X) appeared to be the largest electrical insulating fittings suppliers to Vietnam, together comprising 75% of total imports. Japan, Spain, Mexico and Switzerland lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, Spain, with a CAGR of +188.0%, saw the highest rates of growth with regard to 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, approximately reflecting the previous year. Over the period under review, the import price, however, recorded a mild curtailment. The growth pace was the most rapid in 2018 when the average import price increased by 25%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per ton) and Japan ($X per ton), while the price for Spain ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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