Indonesia: Starch Glue Market 2024

Starch Glue Market Size in Indonesia

The Indonesian starch glue market expanded significantly to $X in 2021, growing by 5.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a strong expansion. Starch glue consumption peaked in 2021 and is likely to continue growth in the near future.

Starch Glue Exports

Exports from Indonesia

In 2021, shipments abroad of glues based on starches, dextrins or other modified starches increased by 2.5% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 132%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, starch glue exports soared to $X in 2021. In general, exports, however, recorded a pronounced descent. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Myanmar (X tons) and Malaysia (X tons) were the main destinations of starch glue exports from Indonesia, together accounting for 75% of total exports. Bangladesh, Brunei Darussalam, Singapore, Timor-Leste and Hong Kong SAR lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brunei Darussalam (with a CAGR of +20.5%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for glues based on starches, dextrins or other modified starches exports from Indonesia, comprising 58% of total exports. The second position in the ranking was taken by Brunei Darussalam ($X), with an 11% share of total exports. It was followed by Bangladesh, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (+25.0% per year) and Bangladesh (+2.5% per year).

Export Prices by Country

In 2021, the average starch glue export price amounted to $X per ton, jumping by 232% against the previous year. Over the period under review, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 314% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Myanmar ($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 the United Arab Emirates (+100.4%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Glue Imports

Imports into Indonesia

In 2021, starch glue imports into Indonesia soared to X tons, jumping by 21% against the year before. Over the period under review, imports saw a pronounced expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 60% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, starch glue imports expanded slightly to $X in 2021. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by 96%. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

Malaysia (X tons), China (X tons) and Singapore (X tons) were the main suppliers of starch glue imports to Indonesia, together comprising 68% of total imports. India, Taiwan (Chinese), Vietnam, the United States, South Korea, Germany, Turkey and the Netherlands lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +51.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Taiwan (Chinese) ($X) and China ($X) constituted the largest starch glue suppliers to Indonesia, together comprising 60% of total imports. Malaysia, India, Germany, South Korea, the United States, Vietnam, Turkey and the Netherlands lagged somewhat behind, together comprising a further 29%.

In terms of the main suppliers, India, with a CAGR of +45.6%, 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, falling by -15.6% against the previous year. In general, the import price, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2018 an increase of 40% against the previous year. The import price peaked at $X per ton in 2020, and then dropped sharply in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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