India: Starch Glue Market 2024

Starch Glue Market Size in India

The Indian starch glue market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 -13.0% against 2016 indices. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Starch Glue Production in India

In value terms, starch glue production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.3% 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 -20.9% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of 42%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Starch Glue Exports

Exports from India

In 2021, overseas shipments of glues based on starches, dextrins or other modified starches increased by 29% to X tons, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate a moderate increase. The growth pace was the most rapid in 2017 when exports increased by 114%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, starch glue exports skyrocketed to $X in 2021. In general, total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% 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 +23.3% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 58%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and Nepal (X tons) were the main destinations of starch glue exports from India, together accounting for 69% of total exports. Bangladesh, Tanzania, Kenya and Rwanda lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Rwanda (with a CAGR of +112.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for starch glue exported from India were the United Arab Emirates ($X), Saudi Arabia ($X) and Nepal ($X), with a combined 68% share of total exports. Bangladesh, Tanzania, Rwanda and Kenya lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, Rwanda, with a CAGR of +95.3%, saw the highest rates of growth with regard to the value of exports, 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, which is down by -7.4% against the previous year. Over the period under review, the export price showed a pronounced reduction. The pace of growth appeared the most rapid in 2015 an increase of 26%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Tanzania ($X per ton), while the average price for exports to Kenya ($X per ton) and Nepal ($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 the United Arab Emirates (+2.3%), while the prices for the other major destinations experienced a decline.

Starch Glue Imports

Imports into India

In 2021, imports of glues based on starches, dextrins or other modified starches into India skyrocketed to X tons, surging by 281% against the previous year's figure. Over the period under review, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, starch glue imports surged to $X in 2021. Overall, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 231% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest starch glue supplier to India, with a 82% share of total imports. Moreover, starch glue imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), eightfold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +35.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+121.3% per year) and Hong Kong SAR (+74.5% per year).

In value terms, China ($X), Hong Kong SAR ($X) and Thailand ($X) constituted the largest starch glue suppliers to India, with a combined 94% share of total imports.

In terms of the main suppliers, Thailand, with a CAGR of +137.3%, recorded 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 average starch glue import price stood at $X per ton in 2021, dropping by -51.2% against the previous year. In general, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in 2020 an increase of 152%. As a result, import price attained the peak level of $X per ton, and then shrank significantly in the following year.

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 Hong Kong SAR ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+21.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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