U.S.: Prepared Binders Market 2024

Prepared Binders Market Size in the U.S.

In 2021, the U.S. prepared binders market decreased by -9.5% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +73.3% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Prepared Binders Production in the U.S.

In value terms, prepared binders production fell to $X in 2021. In general, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +75.6% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 31% against the previous year. Prepared binders production peaked at $X in 2020, and then declined in the following year.

Prepared Binders Exports

Exports from the U.S.

In 2021, overseas shipments of prepared binders for foundry moulds or cores were finally on the rise to reach X tons after three years of decline. Overall, exports continue to indicate a moderate increase. The pace of growth appeared the most rapid in 2017 with an increase of 86% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, prepared binders exports skyrocketed to $X in 2021. In general, exports continue to indicate a tangible expansion. The pace of growth appeared the most rapid in 2017 with an increase of 91% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for prepared binders exports from the United States, with a 54% share of total exports. Moreover, prepared binders exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), twofold. China (X tons) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-2.0% per year) and China (+22.2% per year).

In value terms, Mexico ($X) remains the key foreign market for prepared binders for foundry moulds or cores exports from the United States, comprising 64% of total exports. The second position in the ranking was taken by Canada ($X), with a 14% share of total exports. It was followed by China, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico amounted to +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-6.5% per year) and China (+12.8% per year).

Export Prices by Country

The average prepared binders export price stood at $X per ton in 2021, picking up by 9.2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Mexico ($X per ton), while the average price for exports to Canada ($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 Brazil (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Prepared Binders Imports

Imports into the U.S.

In 2021, supplies from abroad of prepared binders for foundry moulds or cores was finally on the rise to reach X tons after two years of decline. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 45%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, prepared binders imports surged to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Canada (X tons) was the main supplier of prepared binders to the United States, accounting for a 93% share of total imports. It was followed by Japan (X tons), with a 2.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+36.7% per year) and China (-4.0% per year).

In value terms, Canada ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to the United States, comprising 92% of total imports. The second position in the ranking was taken by China ($X), with a 2.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.9% per year) and Japan (+24.8% per year).

Import Prices by Country

In 2021, the average prepared binders import price amounted to $X per ton, rising by 28% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 30% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Japan ($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 (+9.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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