Canada: Prepared Binders Market 2024

Prepared Binders Market Size in Canada

In 2021, the Canadian prepared binders market decreased by -1.4% to $X, falling for the third consecutive year after five years of growth. In general, consumption, however, recorded a strong expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Prepared Binders Production in Canada

In value terms, prepared binders production amounted to $X in 2021 estimated in export price. Overall, production, however, posted strong growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 84% against the previous year. Prepared binders production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Prepared Binders Exports

Exports from Canada

In 2021, approx. X tons of prepared binders for foundry moulds or cores were exported from Canada; increasing by 35% compared with the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, prepared binders exports surged to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for prepared binders exports from Canada, accounting for a 55% share of total exports. Moreover, prepared binders exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), threefold. Peru (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+1.5% per year) and Peru (+3.6% per year).

In value terms, the United States ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from Canada, comprising 56% of total exports. The second position in the ranking was taken by Mexico ($X), with a 16% share of total exports. It was followed by Peru, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+2.0% per year) and Peru (+3.1% per year).

Export Prices by Country

In 2021, the average prepared binders export price amounted to $X per ton, surging by 31% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, the highest price was recorded for prices to Malaysia ($X per ton) and Chile ($X per ton), while the average price for exports to Brazil ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Canada

In 2021, overseas purchases of prepared binders for foundry moulds or cores increased by 24% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a pronounced slump. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, prepared binders imports skyrocketed to $X in 2021. Overall, imports, however, saw a abrupt setback. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main prepared binders supplier to Canada, with a 96% share of total imports. It was followed by Italy (X tons), with a 2.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+129.1% per year) and South Africa (0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to Canada, comprising 91% of total imports. The second position in the ranking was taken by Italy ($X), with a 6.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+149.5% per year) and South Africa (0.0% per year).

Import Prices by Country

In 2021, the average prepared binders import price amounted to $X per ton, dropping by -5.1% against the previous year. Over the period under review, the import price showed a pronounced curtailment. The pace of growth was the most pronounced in 2020 when the average import price increased by 7.6%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.9%).

Source: IndexBox Platform

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