Thailand: Prepared Binders Market 2024

Prepared Binders Market Size in Thailand

The Thai prepared binders market dropped modestly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption saw strong growth. Prepared binders consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Prepared Binders Production in Thailand

In value terms, prepared binders production declined slightly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Prepared Binders Exports

Exports from Thailand

In 2022, overseas shipments of prepared binders for foundry moulds or cores decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, prepared binders exports rose notably to $X in 2022. Overall, exports, however, saw buoyant growth. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

India (X tons), Indonesia (X tons) and Vietnam (X tons) were the main destinations of prepared binders exports from Thailand, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared binders exported from Thailand were India ($X), Indonesia ($X) and Vietnam ($X), with a combined X% share of total exports.

Among the main countries of destination, India, with a CAGR of X%, recorded the highest growth rate of 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 prepared binders export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared binders export price increased by X% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Japan ($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 Lao People's Democratic Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Thailand

In 2022, overseas purchases of prepared binders for foundry moulds or cores increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports posted buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, prepared binders imports surged to $X in 2022. Over the period under review, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of prepared binders imports to Thailand, together accounting for X% of total imports. India, the United States and South Korea lagged somewhat behind, together comprising a further X%.

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

In value terms, Japan ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to Thailand, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average prepared binders import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price recorded resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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