Binders for foundry moulds or cores market in Finland

Earlier Report Observations

The market for prepared binders for foundry moulds or cores in Finland was valued at approximately 4.4 million USD in 2018. That year, the competitiveness of domestic foundries improved as clients increased their purchases from Finnish suppliers and reduced imports, supported by investments in robotics. However, the market contracted sharply to 3.0 million USD in 2019. The decline continued in 2020, with the market falling to 2.1 million USD, largely due to production disruptions and supply chain issues caused by the COVID-19 pandemic.

A recovery began in 2021, lifting the market to 2.2 million USD, and it accelerated in 2022 to reach 3.6 million USD. After this peak, the market softened again, dropping to 3.0 million USD in 2023 and further to 2.8 million USD in 2024. In the latter year, the industry faced growing environmental pressures, particularly regarding the disposal of used foundry sand, and navigated new regulatory changes, including revised rules for excise goods, which added cost and complexity to market operations.

Production binders for foundry moulds or cores in Finland

In value, 2017-2020, K $ US

Finland's production of binders for foundry moulds or cores declined for the second consecutive year. In 2020, output was valued at 1 474 K $ US, marking a decrease of 33.1% compared to 2019. Between 2017 and 2020, production fell by 37.9%, which translates to an annualized decline of 14.7%. The highest value was recorded in 2018 at 3 172 K $ US, with the largest increase of 33.7% also occurring that year.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

In kind, 2017-2020, t

Production of binders for foundry moulds or cores in Finland declined for the third consecutive year. In 2020, Finland produced 630.7 tonnes, representing a sharp drop of 24.0% from 2019. Over the period from 2017 to 2020, production decreased by 26.4%, with a compound annual growth rate of -9.7%.

Annual dynamics of production in Finland in kind, 2017-2020, t

Exports binders for foundry moulds or cores from Finland

Exports in kind, t

The market showed significant volatility during these years. Export volumes peaked in 2017 and hit their lowest point in 2019, with a 129-fold difference between these two years. In 2020, Finland exported 131 tonnes of binders for foundry moulds or cores, a sharp increase of 5,375.7% compared to 2019. The minimum value was recorded in 2019 at just 2 tonnes, with the largest decline of 98.2% also occurring that year.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, Sweden, Turkey, and Latvia formed the main cluster of markets for Finland's exports in kind. Sweden accounted for 27.0% of exports, Turkey for 22.5%, and Latvia for 17.3%, together comprising 66.9% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

Finland exported 277 K $ US worth of binders for foundry moulds or cores in 2020, showing a steep loss of 27.9% compared to the previous year. Between 2017 and 2020, exports decreased by 24.8%, equating to an annualized decline of 9.1%. The minimum value was recorded in 2018 at 277 K $ US, while the maximum was in 2019 at 385 K $ US. The largest increase of 38.9% occurred in 2019.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

Over the period from 2017 to 2020, Latvia, Sweden, and Russia were the main buyers of binders for foundry moulds or cores from Finland in value terms. Latvia accounted for 30.6% of exports, Sweden for 28.2%, and Russia for 13.5%, together making up 72.3% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports binders for foundry moulds or cores to Finland

Imports in kind, t

The data reveals irregular changes, indicating a volatile market environment. Import volumes varied significantly, with a nine-fold difference from the high in 2017 to the low in 2019. In 2020, Finland imported approximately 1 817 tonnes of binders for foundry moulds or cores, up by 380.2% year-over-year. The minimum value was recorded in 2019 at 378 tonnes, with the largest decline of 88.5% also occurring that year.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Germany effectively concentrated imports in kind of binders for foundry moulds or cores to Finland, accounting for 97.3% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

Finland's imports of binders for foundry moulds or cores declined for the second consecutive year. In 2020, imports amounted to 900 K $ US, equivalent to a reduction of 26.8% compared with 2019. Between 2017 and 2020, imports decreased by 33.4%, which translates to an annualized decline of 12.7%. The maximum value was recorded in 2018 at 1 518 K $ US, with the largest increase of 12.2% also occurring that year.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

Over the period from 2017 to 2020, Germany was the dominant market for Finland's imports in value terms, taking 85.3% of total flows, while other countries together accounted for the remaining share.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020