Latin America and the Caribbean: Prepared Binders Market 2025

Prepared Binders Market Size in Latin America and the Caribbean

In 2021, the Latin American prepared binders market decreased by -1.1% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, consumption, however, recorded resilient growth. Over the period under review, the market hit record highs at $X in 2020, and then shrank slightly in the following year.

Prepared Binders Production in Latin America and the Caribbean

In value terms, prepared binders production fell modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 25%. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Prepared Binders Exports

Exports in Latin America and the Caribbean

Prepared binders exports rose markedly to X tons in 2021, surging by 6% against the year before. The total export volume increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 22% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, prepared binders exports rose rapidly to $X in 2021. Total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +15.7% against 2019 indices. The growth pace was the most rapid in 2017 when exports increased by 26% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil was the main exporting country with an export of around X tons, which resulted at 60% of total exports. It was distantly followed by Mexico (X tons), making up a 25% share of total exports. The following exporters - Chile (X tons), Ecuador (X tons) and Colombia (X tons) - together made up 8.6% of total exports.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of prepared binders for foundry moulds or cores. At the same time, Colombia (+25.8%), Mexico (+25.3%), Chile (+7.9%) and Ecuador (+3.0%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +25.8% from 2012-2021. From 2012 to 2021, the share of Mexico and Colombia increased by +21 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest prepared binders supplier in Latin America and the Caribbean, comprising 61% of total exports. The second position in the ranking was taken by Mexico ($X), with a 22% share of total exports. It was followed by Chile, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil was relatively modest. In the other countries, the average annual rates were as follows: Mexico (+22.4% per year) and Chile (+19.7% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 4.7% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 4.9% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Colombia ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+10.9%), while the other leaders experienced mixed trends in the export price figures.

Prepared Binders Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of prepared binders for foundry moulds or cores were imported in Latin America and the Caribbean; increasing by 47% against 2020. Total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared binders imports soared to $X in 2021. Total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico was the major importer of prepared binders for foundry moulds or cores in Latin America and the Caribbean, with the volume of imports amounting to X tons, which was near 56% of total imports in 2021. Chile (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Peru (10%) and Brazil (8.5%). The following importers - Colombia (X tons) and Argentina (X tons) - together made up 5.9% of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of prepared binders for foundry moulds or cores. At the same time, Chile (+9.9%), Peru (+8.0%), Colombia (+7.3%), Brazil (+7.1%) and Argentina (+4.9%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +9.9% from 2012-2021. While the share of Chile (+6.3 p.p.), Peru (+3.9 p.p.) and Brazil (+2.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-14.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported prepared binders for foundry moulds or cores in Latin America and the Caribbean, comprising 59% of total imports. The second position in the ranking was held by Chile ($X), with a 12% share of total imports. It was followed by Peru, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico amounted to +1.6%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+18.5% per year) and Peru (+7.1% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 2.9% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2016 an increase of 6.8% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2019; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Colombia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+7.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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