Bangladesh: Modelling Pastes Market 2024

Modelling Pastes Market Size in Bangladesh

The Bangladeshi modelling pastes market surged to $X in 2021, with an increase of 97% 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 enjoyed a significant expansion. Modelling pastes consumption peaked in 2021 and is expected to retain growth in the immediate term.

Modelling Pastes Exports

Exports from Bangladesh

For the fifth year in a row, Bangladesh recorded decline in overseas shipments of modelling pastes, dental wax and dental impression compounds, which decreased by -10.8% to X kg in 2021. Over the period under review, exports recorded a precipitous slump. The pace of growth appeared the most rapid in 2016 when exports increased by 519%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, modelling pastes exports dropped modestly to $X in 2021. In general, exports continue to indicate a precipitous slump. The pace of growth was the most pronounced in 2016 when exports increased by 491%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Myanmar (X kg) was the main destination for modelling pastes exports from Bangladesh, accounting for a 90% share of total exports. Moreover, modelling pastes exports to Myanmar exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Myanmar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+26.0% per year) and Kyrgyzstan (0.0% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for modelling pastes, dental wax and dental impression compounds exports from Bangladesh, comprising 91% of total exports. The second position in the ranking was held by Canada ($X), with a 7.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Myanmar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+31.6% per year) and Kyrgyzstan (0.0% per year).

Export Prices by Country

The average modelling pastes export price stood at $X per ton in 2021, increasing by 8.6% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 184% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.9%).

Modelling Pastes Imports

Imports into Bangladesh

Modelling pastes imports into Bangladesh soared to X tons in 2021, growing by 83% compared with the year before. Overall, imports enjoyed significant growth. The growth pace was the most rapid in 2016 when imports increased by 285%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, modelling pastes imports surged to $X in 2021. In general, imports recorded a significant increase. The growth pace was the most rapid in 2014 with an increase of 163% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of modelling pastes to Bangladesh, with a 67% share of total imports. Moreover, modelling pastes imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), ninefold. India (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +90.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+95.8% per year) and India (+86.0% per year).

In value terms, China ($X) constituted the largest supplier of modelling pastes, dental wax and dental impression compounds to Bangladesh, comprising 71% of total imports. The second position in the ranking was taken by Italy ($X), with a 5.9% share of total imports. It was followed by India, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +113.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+17.5% per year) and India (+134.6% per year).

Import Prices by Country

In 2021, the average modelling pastes import price amounted to $X per ton, rising by 10% against the previous year. In general, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, modelling pastes import price increased by +96.0% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 52% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+26.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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