India: Prepared Binders Market 2024

Prepared Binders Market Size in India

After nine years of growth, the Indian prepared binders market decreased by -1.2% to $X in 2021. Overall, consumption, however, recorded a buoyant expansion. Over the period under review, the market hit record highs at $X in 2020, and then declined in the following year.

Prepared Binders Production in India

In value terms, prepared binders production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 19% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then dropped slightly in the following year.

Prepared Binders Exports

Exports from India

In 2021, shipments abroad of prepared binders for foundry moulds or cores was finally on the rise to reach X tons after two years of decline. Overall, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared binders exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) was the main destination for prepared binders exports from India, accounting for a 21% share of total exports. Moreover, prepared binders exports to the United Arab Emirates exceeded the volume sent to the second major destination, South Africa (X tons), twofold. The third position in this ranking was taken by Saudi Arabia (X tons), with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+32.9% per year) and Saudi Arabia (+8.4% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from India, comprising 28% of total exports. The second position in the ranking was held by South Africa ($X), with a 14% share of total exports. It was followed by Saudi Arabia, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+42.2% per year) and Saudi Arabia (+4.1% per year).

Export Prices by Country

The average prepared binders export price stood at $X per ton in 2021, which is down by -5.3% against the previous year. Over the period under review, the export price showed a noticeable decline. The growth pace was the most rapid in 2014 an increase of 8.9% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per ton), while the average price for exports to Belarus ($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 South Africa (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into India

In 2021, overseas purchases of prepared binders for foundry moulds or cores were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 101% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, prepared binders imports surged to $X in 2021. Over the period under review, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), China (X tons) and South Korea (X tons) were the main suppliers of prepared binders imports to India, together comprising 74% of total imports. These countries were followed by Thailand, Italy and Singapore, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +64.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared binders suppliers to India were China ($X), Thailand ($X) and South Korea ($X), with a combined 73% share of total imports.

In terms of the main suppliers, Thailand, with a CAGR of +64.2%, saw 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 prepared binders import price stood at $X per ton in 2021, rising by 33% against the previous year. In general, the import price, however, continues to indicate a deep setback. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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