Pakistan: Modified Starches Market 2024

Modified Starches Market Size in Pakistan

The Pakistani modified starches market contracted to $X in 2022, declining by -2.6% against the previous year. In general, consumption, however, continues to indicate a slight curtailment. Modified starches consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Modified Starches Production in Pakistan

In value terms, modified starches production contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of 100%. Modified starches production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Modified Starches Exports

Exports from Pakistan

For the fifth year in a row, Pakistan recorded growth in overseas shipments of dextrins and other modified starches, which increased by 22% to X tons in 2022. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 1,443% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, modified starches exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 2,781% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United Arab Emirates (X tons) was the main destination for modified starches exports from Pakistan, with a 49% share of total exports. Moreover, modified starches exports to the United Arab Emirates exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was held by Ukraine (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +47.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+76.2% per year) and Ukraine (+284.2% per year).

In value terms, the United Arab Emirates ($X), Indonesia ($X) and Saudi Arabia ($X) were the largest markets for modified starches exported from Pakistan worldwide, with a combined 64% share of total exports.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +586.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, with an increase of 20% against the previous year. In general, the export price, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2015 when the average export price increased by 107%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, 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 Jordan ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-4.4%), while the prices for the other major destinations experienced a decline.

Modified Starches Imports

Imports into Pakistan

For the fourth consecutive year, Pakistan recorded growth in purchases abroad of dextrins and other modified starches, which increased by 12% to X tons in 2022. Overall, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2019 when imports increased by 48%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, modified starches imports stood at $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.6% against 2018 indices. The growth pace was the most rapid in 2021 when imports increased by 36%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of modified starches imports to Pakistan, together comprising 64% of total imports. Thailand, Malaysia, the Netherlands, Denmark, France, Indonesia, Taiwan (Chinese), India and Germany lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +157.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest modified starches suppliers to Pakistan were China ($X), the United States ($X) and the United Arab Emirates ($X), with a combined 62% share of total imports. The Netherlands, Thailand, Denmark, Malaysia, France, Taiwan (Chinese), Indonesia, Germany and India lagged somewhat behind, together comprising a further 35%.

Indonesia, with a CAGR of +139.3%, 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 modified starches import price stood at $X per ton in 2022, declining by -11.1% against the previous year. Overall, the import price saw a noticeable decrease. The most prominent rate of growth was recorded in 2015 when the average import price increased by 31% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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