Starch Glue Market

The starch glue market is expected to expand over the period from 2022 to 2030, with consumption and value on the rise. Major consuming countries include China, the United States, and Italy, while Germany, Saudi Arabia, and the Netherlands are top producers. The market is also driven by increasing imports and exports, with notable growth rates in Egypt and the Czech Republic. Overall, the market is forecasted to see gradual growth in the coming years.

Market Forecast

Driven by increasing demand for glues based on starches, dextrins or other modified starches worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market volume to 1.6M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market value to $2.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Glues Based On Starches, Dextrins Or Other Modified Starches

Global starch glue consumption contracted modestly to 1.2M tons in 2022, flattening at 2021. The total consumption volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs at 1.3M tons in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

The global starch glue market size dropped modestly to $1.9B in 2022, waning by -4.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $2B, and then reduced slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (247K tons), the United States (173K tons) and Italy (111K tons), together accounting for 44% of global consumption. India, Japan, Germany, Brazil, the UK, Turkey, Poland, Canada, Iran and France lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +17.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest starch glue markets worldwide were the United States ($473M), China ($322M) and Italy ($160M), with a combined 49% share of the global market. Japan, India, Brazil, Canada, the UK, Poland, Turkey, France, Iran and Germany lagged somewhat behind, together comprising a further 23%.

Poland, with a CAGR of +16.7%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of starch glue per capita consumption was registered in Italy (1,875 kg per 1000 persons), followed by Poland (546 kg per 1000 persons), the United States (517 kg per 1000 persons) and Canada (503 kg per 1000 persons), while the world average per capita consumption of starch glue was estimated at 155 kg per 1000 persons.

In Italy, starch glue per capita consumption expanded at an average annual rate of +3.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Poland (+17.5% per year) and the United States (+1.4% per year).

Production

World Production of Glues Based On Starches, Dextrins Or Other Modified Starches

In 2022, the amount of glues based on starches, dextrins or other modified starches produced worldwide declined slightly to 1.2M tons, falling by -3% compared with the previous year's figure. The total output volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 15%. Over the period under review, global production reached the maximum volume at 1.3M tons in 2021, and then contracted slightly in the following year.

In value terms, starch glue production reduced to $1.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. As a result, production reached the peak level of $2B, and then reduced in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (256K tons), the United States (175K tons) and Germany (131K tons), together comprising 45% of global production. Italy, India, Japan, Egypt, Saudi Arabia, Brazil, Turkey and Iran lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Saudi Arabia (with a CAGR of +19.3%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Glues Based On Starches, Dextrins Or Other Modified Starches

Global starch glue imports expanded slightly to 242K tons in 2022, picking up by 2.2% on the year before. The total import volume increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 13% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, starch glue imports surged to $320M in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

The purchases of the eight major importers of glues based on starches, dextrins or other modified starches, namely the UK, Poland, France, Sweden, Mexico, Kuwait, the Czech Republic and the Netherlands, represented more than third of total import. Italy (6.3K tons), Germany (6.2K tons), Switzerland (5.5K tons), Russia (4.6K tons) and Austria (4.4K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Czech Republic (with a CAGR of +20.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest starch glue importing markets worldwide were the UK ($23M), Poland ($23M) and France ($20M), together accounting for 21% of global imports. Mexico, Sweden, the Netherlands, Kuwait, the Czech Republic, Germany, Italy, Russia, Switzerland and Austria lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, Kuwait, with a CAGR of +20.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average starch glue import price stood at $1,320 per ton in 2022, increasing by 16% against the previous year. Overall, the import price, however, showed a mild downturn. Over the period under review, average import prices reached the maximum at $1,478 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($1,387 per ton), while the Czech Republic ($790 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Glues Based On Starches, Dextrins Or Other Modified Starches

After five years of growth, overseas shipments of glues based on starches, dextrins or other modified starches decreased by -9.1% to 273K tons in 2022. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 26%. As a result, the exports attained the peak of 301K tons, and then shrank in the following year.

In value terms, starch glue exports stood at $291M in 2022. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +104.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Exports By Country

In 2022, Germany (99K tons) was the main exporter of glues based on starches, dextrins or other modified starches, achieving 36% of total exports. Saudi Arabia (31K tons) took the second position in the ranking, followed by Egypt (29K tons) and the Netherlands (13K tons). All these countries together took near 27% share of total exports. The Czech Republic (10K tons), China (8.6K tons), Austria (8.2K tons), Serbia (7.2K tons), Sweden (6.9K tons), Ukraine (6.6K tons), Belgium (4.5K tons), the United States (4.5K tons) and the UK (4.4K tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to starch glue exports from Germany stood at +5.0%. At the same time, Egypt (+72.4%), Serbia (+62.7%), the Czech Republic (+54.8%), Ukraine (+47.0%), Saudi Arabia (+32.1%), China (+13.1%), Belgium (+9.4%), the Netherlands (+4.5%), Austria (+3.2%), the UK (+1.7%) and Sweden (+1.4%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in the world, with a CAGR of +72.4% from 2012-2022. The United States experienced a relatively flat trend pattern. While the share of Egypt (+11 p.p.), Saudi Arabia (+9.9 p.p.), the Czech Republic (+3.6 p.p.), Serbia (+2.6 p.p.) and Ukraine (+2.3 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Austria (-1.7 p.p.), the Netherlands (-1.9 p.p.), the United States (-2 p.p.), Sweden (-2.3 p.p.) and Germany (-12.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($98M) remains the largest starch glue supplier worldwide, comprising 34% of global exports. The second position in the ranking was held by Egypt ($34M), with a 12% share of global exports. It was followed by Saudi Arabia, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value in Germany totaled +5.9%. In the other countries, the average annual rates were as follows: Egypt (+65.9% per year) and Saudi Arabia (+26.2% per year).

Export Prices By Country

The average starch glue export price stood at $1,064 per ton in 2022, picking up by 17% against the previous year. Over the period under review, the export price, however, continues to indicate a slight downturn. The global export price peaked at $1,421 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($2,256 per ton), while Saudi Arabia ($571 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform