China: Starch Glue Market 2024

Starch Glue Market Size in China

In 2021, after two years of decline, there was growth in the Chinese starch glue market, when its value increased by 1.6% to $X. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.4% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Starch Glue Production in China

In value terms, starch glue production amounted to $X in 2021 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.9% against 2018 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 23% against the previous year. Starch glue production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Starch Glue Exports

Exports from China

In 2021, the amount of glues based on starches, dextrins or other modified starches exported from China stood at X tons, growing by 2.3% on the previous year's figure. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 28% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, starch glue exports soared to $X in 2021. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 60% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Vietnam (X tons), Myanmar (X tons) and Malaysia (X tons) were the main destinations of starch glue exports from China, together comprising 61% of total exports. Taiwan (Chinese), India, the Philippines, Mongolia and Nigeria lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +53.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for starch glue exported from China were Vietnam ($X), Myanmar ($X) and India ($X), together comprising 52% of total exports. These countries were followed by Taiwan (Chinese), Malaysia, the Philippines, Nigeria and Mongolia, which together accounted for a further 18%.

Nigeria, with a CAGR of +52.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average starch glue export price amounted to $X per ton, jumping by 29% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Mongolia ($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 Taiwan (Chinese) (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Glue Imports

Imports into China

In 2021, overseas purchases of glues based on starches, dextrins or other modified starches increased by 70% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 183%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, starch glue imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 95%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of starch glue to China, with a 32% share of total imports. Moreover, starch glue imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.2% per year) and Japan (-18.7% per year).

In value terms, the largest starch glue suppliers to China were Japan ($X), Italy ($X) and Germany ($X), together accounting for 62% of total imports. The United States, the United Arab Emirates, Thailand, Denmark, South Korea and Belgium lagged somewhat behind, together comprising a further 26%.

Thailand, with a CAGR of +1,276.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average starch glue import price stood at $X per ton in 2021, surging by 3.4% against the previous year. Over the period under review, the import price recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 an increase of 56%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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