ASEAN: Prepared Binders Market 2025

Prepared Binders Market Size in ASEAN

In 2021, after two years of decline, there was growth in the ASEAN prepared binders market, when its value increased by 1.2% to $X. In general, consumption, however, saw a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Prepared Binders Production in ASEAN

In value terms, prepared binders production amounted to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 42%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Prepared Binders Exports

Exports in ASEAN

In 2021, overseas shipments of prepared binders for foundry moulds or cores increased by 66% to X tons, rising for the third year in a row after two years of decline. Total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +124.9% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared binders exports skyrocketed to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +110.5% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand represented the key exporting country with an export of about X tons, which finished at 62% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a 20% share, followed by Singapore (7.4%) and the Philippines (6.3%). Vietnam (X tons) and Malaysia (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to prepared binders exports from Thailand stood at +9.1%. At the same time, the Philippines (+440.9%), Vietnam (+64.0%) and Malaysia (+11.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +440.9% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Singapore (-10.0%) illustrated a downward trend over the same period. While the share of Thailand (+19 p.p.), the Philippines (+6.3 p.p.) and Vietnam (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-7.9 p.p.) and Singapore (-21.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest prepared binders supplier in ASEAN, comprising 69% of total exports. The second position in the ranking was taken by Indonesia ($X), with an 11% share of total exports. It was followed by Singapore, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand amounted to +9.4%. In the other countries, the average annual rates were as follows: Indonesia (+5.7% per year) and Singapore (-11.9% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with an increase of 9.1% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 11% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+14.2%), while the other leaders experienced more modest paces of growth.

Prepared Binders Imports

Imports in ASEAN

In 2021, overseas purchases of prepared binders for foundry moulds or cores were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, prepared binders imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 25% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Indonesia represented the major importer of prepared binders for foundry moulds or cores in ASEAN, with the volume of imports reaching X tons, which was approx. 48% of total imports in 2021. Vietnam (X tons) took the second position in the ranking, distantly followed by Thailand (X tons) and Malaysia (X tons). All these countries together held near 47% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +21.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constitutes the largest market for imported prepared binders for foundry moulds or cores in ASEAN, comprising 53% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 18% share of total imports. It was followed by Thailand, with a 16% share.

In Indonesia, prepared binders imports expanded at an average annual rate of +5.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+9.5% per year) and Thailand (+5.9% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, growing by 9.1% against the previous year. Over the period under review, the import price, however, showed a noticeable reduction. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform