Iran: Starch Glue Market 2024

Starch Glue Market Size in Iran

In 2021, the Iranian starch glue market increased by 13% to $X for the first time since 2017, thus ending a three-year declining trend. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -31.8% against 2017 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Starch Glue Production in Iran

In value terms, starch glue production rose rapidly to $X in 2021 estimated in export price. In general, production posted a buoyant expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 45%. Starch glue production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Starch Glue Exports

Exports from Iran

After two years of decline, shipments abroad of glues based on starches, dextrins or other modified starches increased by 51% to X tons in 2021. Overall, exports posted resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 625%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, starch glue exports fell to $X in 2021. Over the period under review, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 964% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Armenia (X tons) was the main destination for starch glue exports from Iran, with a 62% share of total exports. Moreover, starch glue exports to Armenia exceeded the volume sent to the second major destination, Kyrgyzstan (X tons), fivefold. The United Arab Emirates (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Armenia totaled +78.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+111.8% per year) and the United Arab Emirates (-2.1% per year).

In value terms, Armenia ($X) emerged as the key foreign market for glues based on starches, dextrins or other modified starches exports from Iran, comprising 43% of total exports. The second position in the ranking was taken by Kyrgyzstan ($X), with a 21% share of total exports. It was followed by Azerbaijan, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Armenia totaled +56.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+116.1% per year) and Azerbaijan (-4.1% per year).

Export Prices by Country

In 2021, the average starch glue export price amounted to $X per ton, dropping by -34.7% against the previous year. Overall, the export price showed a perceptible curtailment. The growth pace was the most rapid in 2017 when the average export price increased by 47%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to the United Arab Emirates ($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 Azerbaijan (+12.8%), while the prices for the other major destinations experienced mixed trend patterns.

Starch Glue Imports

Imports into Iran

Starch glue imports into Iran declined significantly to X tons in 2021, dropping by -47.1% against the year before. Over the period under review, imports saw a significant contraction. The growth pace was the most rapid in 2019 with an increase of 122%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, starch glue imports shrank dramatically to $X in 2021. In general, imports saw a dramatic downturn. The growth pace was the most rapid in 2014 when imports increased by 71%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Turkey (X tons) were the main suppliers of starch glue imports to Iran.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of -10.0%), while imports for the other leaders experienced a decline.

In value terms, the largest starch glue suppliers to Iran were the United Arab Emirates ($X), China ($X) and Turkey ($X).

The United Arab Emirates, with a CAGR of -7.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average starch glue import price stood at $X per ton in 2021, declining by -52.3% against the previous year. In general, the import price saw a noticeable downturn. The growth pace was the most rapid in 2020 when the average import price increased by 156%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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