Vietnam: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Vietnam

In 2021, the Vietnamese glass electrical insulator market increased by 33% to $X, rising for the third year in a row after five years of decline. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Glass Electrical Insulator Exports

Exports from Vietnam

In 2021, overseas shipments of glass electrical insulators decreased by -10.3% to X units, falling for the second year in a row after four years of growth. Overall, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 1,116%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass electrical insulator exports dropped to $X in 2021. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 when exports increased by 712% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for glass electrical insulator exports from Vietnam, accounting for a 77% share of total exports. Moreover, glass electrical insulator exports to Malaysia exceeded the volume sent to the second major destination, the United States (X units), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Malaysia totaled +39.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-10.9% per year) and Japan (+18.2% per year).

In value terms, Malaysia ($X) remains the key foreign market for glass electrical insulators exports from Vietnam, comprising 80% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia totaled +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-29.6% per year) and Japan (-0.7% per year).

Export Prices by Country

In 2021, the average glass electrical insulator export price amounted to $X per unit, shrinking by -3.7% against the previous year. In general, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 a decrease of -2% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-15.0%), while the prices for the other major destinations experienced a decline.

Glass Electrical Insulator Imports

Imports into Vietnam

In 2021, approx. X units of glass electrical insulators were imported into Vietnam; with an increase of 58% compared with the previous year. In general, imports saw resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 189%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, glass electrical insulator imports rose modestly to $X in 2021. Over the period under review, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 201% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of glass electrical insulator to Vietnam, accounting for a 67% share of total imports. Moreover, glass electrical insulator imports from China exceeded the figures recorded by the second-largest supplier, Ukraine (X units), fourfold. France (X units) ranked third in terms of total imports with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+22.6% per year) and France (+56.5% per year).

In value terms, China ($X) constituted the largest supplier of glass electrical insulators to Vietnam, comprising 54% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 21% share of total imports. It was followed by France, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+29.2% per year) and France (+51.5% per year).

Import Prices by Country

The average glass electrical insulator import price stood at $X per unit in 2021, with a decrease of -34.6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by 44% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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