Saudi Arabia: Prepared Binders Market 2024

Prepared Binders Market Size in Saudi Arabia

For the fourth year in a row, the Saudi prepared binders market recorded decline in sales value, which decreased by -16.3% to $X in 2021. Overall, consumption recorded prominent growth. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Prepared Binders Exports

Exports from Saudi Arabia

Prepared binders exports from Saudi Arabia declined sharply to X tons in 2021, shrinking by -37.1% against the year before. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 2,161% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, prepared binders exports reduced rapidly to $X in 2021. Over the period under review, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 1,867%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for prepared binders exports from Saudi Arabia, with a 94% share of total exports. Moreover, prepared binders exports to India exceeded the volume sent to the second major destination, Kuwait (X kg), more than tenfold. The third position in this ranking was held by Tanzania (X kg), with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India totaled -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-6.5% per year) and Tanzania (-22.0% per year).

In value terms, India ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from Saudi Arabia, comprising 62% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 28% share of total exports. It was followed by Tanzania, with a 2.7% share.

From 2012 to 2021, the average annual growth rate of value to India totaled -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+2.0% per year) and Tanzania (-19.2% per year).

Export Prices by Country

In 2021, the average prepared binders export price amounted to $X per ton, falling by -17.8% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 67%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Kuwait ($X per ton), while the average price for exports to India ($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 Kuwait (+9.2%), while the prices for the other major destinations experienced mixed trend patterns.

Prepared Binders Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of prepared binders for foundry moulds or cores increased by 16% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by 250% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, prepared binders imports plummeted to $X in 2021. Overall, imports continue to indicate pronounced growth. The pace of growth was the most pronounced in 2017 with an increase of 444% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest prepared binders supplier to Saudi Arabia, accounting for a 49% share of total imports. Moreover, prepared binders imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-9.5% per year) and Germany (+23.3% per year).

In value terms, India ($X), Germany ($X) and the United Arab Emirates ($X) were the largest prepared binders suppliers to Saudi Arabia, with a combined 63% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +10.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average prepared binders import price amounted to $X per ton, which is down by -54.9% against the previous year. Overall, the import price recorded a abrupt contraction. The pace of growth was the most pronounced in 2017 an increase of 56%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for India ($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 Netherlands (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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