Norway: Prepared Binders Market 2024

Prepared Binders Market Size in Norway

In 2021, the Norwegian 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 enjoyed a strong expansion. Prepared binders consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Prepared Binders Exports

Exports from Norway

After two years of decline, overseas shipments of prepared binders for foundry moulds or cores increased by 12% to X tons in 2021. In general, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when exports increased by 27%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, prepared binders exports soared to $X in 2021. Overall, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 54%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for prepared binders exports from Norway, accounting for a 54% share of total exports. Moreover, prepared binders exports to Sweden exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Denmark (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden totaled -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-8.9% per year) and Denmark (-11.6% per year).

In value terms, Sweden ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from Norway, comprising 59% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total exports. It was followed by Estonia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden stood at -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-7.5% per year) and Estonia (-6.3% per year).

Export Prices by Country

The average prepared binders export price stood at $X per ton in 2021, increasing by 11% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 21% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Denmark ($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 Germany (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Prepared Binders Imports

Imports into Norway

In 2021, supplies from abroad of prepared binders for foundry moulds or cores was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 35% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, prepared binders imports skyrocketed to $X in 2021. In general, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.5% 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 +22.0% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Sweden (X tons) constituted the largest prepared binders supplier to Norway, with a 57% share of total imports. Moreover, prepared binders imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Finland (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden totaled +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.2% per year) and Finland (+92.2% per year).

In value terms, Germany ($X), Sweden ($X) and Finland ($X) were the largest prepared binders suppliers to Norway, with a combined 84% share of total imports.

Finland, with a CAGR of +102.3%, recorded the highest growth rate of the value of imports, in terms of 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, growing by 2.7% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 33%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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