Updated Jan 23, 2023 16:58

Ceramic Electrical Insulator Market in Bangladesh

Market Overview
The Bangladeshi ceramic electrical insulator market expanded sharply to $ in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a buoyant expansion. Ceramic electrical insulator consumption peaked at $ in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.


Consumption
In , consumption of electrical insulators of ceramics was finally on the rise to reach units after three years of decline. In general, consumption recorded a remarkable increase. Ceramic electrical insulator consumption peaked at units in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.

The size of the ceramic electrical insulator market in Bangladesh expanded notably to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed prominent growth. Ceramic electrical insulator consumption peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.


Market Forecast
Driven by increasing demand for ceramic electrical insulator in Bangladesh, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Ceramic electrical insulator market in Bangladesh consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.


Trade Balance
Bangladesh remains a net importer of ceramic electrical insulator; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.