Greece: Starch Glue Market 2024

Starch Glue Market Size in Greece

In 2021, the Greek starch glue market decreased by -28.9% to $X, falling for the third consecutive year after four years of growth. In general, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -33.3% against 2018 indices. Starch glue consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Starch Glue Production in Greece

In value terms, starch glue production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 18%. Starch glue production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Starch Glue Exports

Exports from Greece

Starch glue exports from Greece skyrocketed to X tons in 2021, rising by 40% compared with the previous year's figure. In general, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 256% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, starch glue exports surged to $X in 2021. Overall, exports recorded a perceptible increase. The pace of growth was the most pronounced in 2018 when exports increased by 267% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for starch glue exports from Greece, accounting for a 67% share of total exports. Moreover, starch glue exports to the Czech Republic exceeded the volume sent to the second major destination, France (X tons), threefold. Cyprus (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to the Czech Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+36.3% per year) and Cyprus (-11.8% per year).

In value terms, the largest markets for starch glue exported from Greece were the Czech Republic ($X), France ($X) and Cyprus ($X), together comprising 93% of total exports.

France, with a CAGR of +41.8%, recorded the highest rates of growth with regard to 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

The average starch glue export price stood at $X per ton in 2021, with an increase of 3.6% against the previous year. Over the period under review, the export price, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by 41%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Bulgaria ($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 Cyprus (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Glue Imports

Imports into Greece

In 2021, approx. X tons of glues based on starches, dextrins or other modified starches were imported into Greece; with a decrease of -28.9% on the previous year. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 80% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, starch glue imports fell sharply to $X in 2021. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 37%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of starch glue to Greece, with a 66% share of total imports. Moreover, starch glue imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. Serbia (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+20.8% per year) and Serbia (+90.3% per year).

In value terms, Germany ($X) constituted the largest supplier of glues based on starches, dextrins or other modified starches to Greece, comprising 64% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 9.8% share of total imports. It was followed by Austria, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+13.6% per year) and Austria (+59.9% per year).

Import Prices by Country

The average starch glue import price stood at $X per ton in 2021, which is down by -6.2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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