Thailand: Prepared Binders Market 2024

Prepared Binders Market Size in Thailand

The Thai prepared binders market totaled $X in 2021, leveling off at the previous year. In general, consumption, however, continues to indicate a prominent increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Prepared Binders Production in Thailand

In value terms, prepared binders production stood at $X in 2021 estimated in export price. In general, production, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 35% against the previous year. Prepared binders production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Prepared Binders Exports

Exports from Thailand

In 2021, shipments abroad of prepared binders for foundry moulds or cores increased by 109% to X tons, rising for the third year in a row after four years of decline. Over the period under review, exports enjoyed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared binders exports soared to $X in 2021. Overall, exports saw a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons), Indonesia (X tons) and Japan (X tons) were the main destinations of prepared binders exports from Thailand, together accounting for 75% of total exports. These countries were followed by Vietnam, the Philippines, Myanmar, Lao People's Democratic Republic and Malaysia, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +53.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Indonesia ($X) and Vietnam ($X) appeared to be the largest markets for prepared binders exported from Thailand worldwide, together accounting for 81% of total exports.

In terms of the main countries of destination, India, with a CAGR of +33.1%, saw 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

The average prepared binders export price stood at $X per ton in 2021, rising by 16% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 35% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Myanmar ($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 Lao People's Democratic Republic (+31.4%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Thailand

In 2021, purchases abroad of prepared binders for foundry moulds or cores was finally on the rise to reach X tons after two years of decline. Over the period under review, imports enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2018 with an increase of 156%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, prepared binders imports surged to $X in 2021. In general, imports recorded buoyant growth. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of prepared binders imports to Thailand, with a combined 94% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +9.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared binders suppliers to Thailand were China ($X), Japan ($X) and Taiwan (Chinese) ($X), together accounting for 79% of total imports. These countries were followed by South Korea and the United States, which together accounted for a further 15%.

South Korea, with a CAGR of +16.1%, saw the highest growth rate of 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

In 2021, the average prepared binders import price amounted to $X per ton, with an increase of 8.2% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared binders import price increased by +100.5% against 2018 indices. The growth pace was the most rapid in 2019 when the average import price increased by 54%. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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