Mexico: Prepared Binders Market 2024

Prepared Binders Market Size in Mexico

In 2021, the Mexican prepared binders market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Prepared Binders Exports

Exports from Mexico

In 2021, overseas shipments of prepared binders for foundry moulds or cores increased by 19% to X tons, rising for the second consecutive year after two years of decline. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 389% against the previous year. The exports peaked in 2021 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, exports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 537% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

India (X tons), the United States (X tons) and Colombia (X tons) were the main destinations of prepared binders exports from Mexico, with a combined 77% share of total exports. Egypt, Honduras, Cuba, Chile and Guatemala lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the biggest increases were recorded for Honduras (with a CAGR of +71.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Colombia ($X) and Egypt ($X) constituted the largest markets for prepared binders exported from Mexico worldwide, with a combined 64% share of total exports. These countries were followed by India, Honduras, Cuba, Guatemala and Chile, which together accounted for a further 27%.

Honduras, with a CAGR of +67.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average prepared binders export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2016 an increase of 30%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Honduras ($X per ton), while the average price for exports to India ($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 Chile (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Mexico

After two years of decline, purchases abroad of prepared binders for foundry moulds or cores increased by 56% to X tons in 2021. In general, imports, however, recorded a relatively flat trend pattern. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, prepared binders imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of prepared binders to Mexico, accounting for a 46% share of total imports. Moreover, prepared binders imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+0.6% per year) and Germany (+10.5% per year).

In value terms, the United States ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to Mexico, comprising 55% of total imports. The second position in the ranking was held by Canada ($X), with a 14% share of total imports. It was followed by Germany, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+1.8% per year) and Germany (+23.2% per year).

Import Prices by Country

In 2021, the average prepared binders import price amounted to $X per ton, which is down by -1.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2016 when the average import price increased by 8.8%. Over the period under review, average import prices hit record highs 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 Germany ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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