Asia: Prepared Binders Market 2024

Prepared Binders Market Size in Asia

The Asian prepared binders market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, posted a strong expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Prepared Binders Production in Asia

In value terms, prepared binders production reached $X in 2021 estimated in export price. In general, production, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 28% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Prepared Binders Exports

Exports in Asia

In 2021, the amount of prepared binders for foundry moulds or cores exported in Asia soared to X tons, picking up by 36% compared with 2020 figures. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% 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 +33.4% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared binders exports surged to $X in 2021. Total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons) and China (X tons) were the main exporters of prepared binders for foundry moulds or cores in Asia, together amounting to near 64% of total exports. Thailand (X tons) took the next position in the ranking, followed by South Korea (X tons) and Taiwan (Chinese) (X tons). All these countries together held approx. 25% share of total exports. Indonesia (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +42.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest prepared binders supplier in Asia, comprising 46% of total exports. The second position in the ranking was taken by India ($X), with a 16% share of total exports. It was followed by Thailand, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +3.4%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+4.4% per year) and Thailand (+9.4% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, the export price, however, showed a mild descent. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+4.8%), while the other leaders experienced more modest paces of growth.

Prepared Binders Imports

Imports in Asia

After two years of decline, supplies from abroad of prepared binders for foundry moulds or cores increased by 32% to X tons in 2021. Overall, imports saw buoyant growth. The pace of growth was the most pronounced in 2018 when imports increased by 38% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, prepared binders imports soared to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 39% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

India represented the major importer of prepared binders for foundry moulds or cores in Asia, with the volume of imports reaching X tons, which was approx. 34% of total imports in 2021. It was distantly followed by Indonesia (X tons), Vietnam (X tons), the United Arab Emirates (X tons), Turkey (X tons) and Saudi Arabia (X tons), together committing a 41% share of total imports. Pakistan (X tons), South Korea (X tons), Thailand (X tons), China (X tons), Bangladesh (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) took a relatively small share of total imports.

India was also the fastest-growing in terms of the prepared binders for foundry moulds or cores imports, with a CAGR of +26.4% from 2012 to 2021. At the same time, Pakistan (+26.1%), Vietnam (+21.7%), Saudi Arabia (+14.4%), Turkey (+12.7%), Taiwan (Chinese) (+12.2%), Bangladesh (+11.8%), the United Arab Emirates (+9.0%), China (+7.1%), South Korea (+5.9%), Indonesia (+4.8%) and Thailand (+4.7%) displayed positive paces of growth. By contrast, Malaysia (-10.6%) illustrated a downward trend over the same period. India (+25 p.p.), Vietnam (+5.1 p.p.), Pakistan (+2.8 p.p.), Saudi Arabia (+1.7 p.p.) and Turkey (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Indonesia and Malaysia saw its share reduced by -1.6%, -6.3% and -7.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest prepared binders importing markets in Asia were India ($X), Indonesia ($X) and Turkey ($X), together accounting for 51% of total imports.

Among the main importing countries, India, with a CAGR of +15.4%, saw the highest growth rate of 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

The import price in Asia stood at $X per ton in 2021, with an increase of 3.5% against the previous year. Overall, the import price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2020 an increase of 6.4%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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