Indonesia: Prepared Binders Market 2024

Prepared Binders Market Size in Indonesia

In 2021, the Indonesian prepared binders market was finally on the rise to reach $X after two years of decline. In general, consumption continues to indicate buoyant growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Prepared Binders Production in Indonesia

In value terms, prepared binders production expanded to $X in 2021 estimated in export price. In general, production enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 94%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Prepared Binders Exports

Exports from Indonesia

In 2021, prepared binders exports from Indonesia soared to X tons, increasing by 34% against 2020 figures. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 42%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, prepared binders exports surged to $X in 2021. Overall, total exports indicated a strong increase 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, exports increased by +58.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 30%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Malaysia (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of prepared binders exports from Indonesia, together comprising 86% of total exports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +80.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from Indonesia, comprising 53% of total exports. The second position in the ranking was held by Thailand ($X), with a 16% share of total exports. It was followed by Vietnam, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+0.1% per year) and Vietnam (+11.0% per year).

Export Prices by Country

In 2021, the average prepared binders export price amounted to $X per ton, dropping by -4.6% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared binders export price decreased by -30.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 128%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while the average price for exports to Japan ($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 Bangladesh (+25.9%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Indonesia

In 2021, imports of prepared binders for foundry moulds or cores into Indonesia dropped to X tons, falling by -13% on 2020. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +98.3% against 2014 indices. The growth pace was the most rapid in 2020 with an increase of 43% against the previous year. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, prepared binders imports reduced slightly to $X in 2021. Overall, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +87.9% against 2014 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 22%. Imports peaked at $X in 2020, and then reduced slightly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of prepared binders to Indonesia, with a 33% share of total imports. Moreover, prepared binders imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.0% per year) and Japan (+4.4% per year).

In value terms, the largest prepared binders suppliers to Indonesia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), together accounting for 61% of total imports. Germany, South Korea, India, Singapore and Thailand lagged somewhat behind, together accounting for a further 28%.

South Korea, with a CAGR of +107.9%, recorded the highest rates of growth with regard to the value of imports, among 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 prepared binders import price stood at $X per ton in 2021, increasing by 14% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 22%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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