The import of prepared binders for foundry moulds or cores to India is on a steadily increasing trend, with forecasted values reaching 30.684 million USD by 2028 from 25.813 million USD in 2024. Compared to the estimated figure for 2023, there is a consistent year-on-year growth of approximately 4.9% on average from 2024 to 2028. Over this five-year period, the compound annual growth rate (CAGR) suggests a healthy upward trajectory for these imports.
Looking ahead, factors to watch include technological advancements in foundry processes and domestic manufacturing capabilities, shifts in global trade policies, and fluctuations in raw material prices. Additionally, the growth of India's automotive and heavy machinery industries could further drive demand for prepared binders.
