India: Lactam Market 2024

Lactam Market Size in India

The Indian lactam market rose to $X in 2023, increasing by X% against the previous year. In general, the total consumption indicated a prominent increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Lactam Production in India

In value terms, lactam production rose notably to $X in 2023 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

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Lactam Exports

Exports from India

In 2023, exports of lactams from heterocyclic compounds from India fell to X tons, dropping by X% on the previous year. Over the period under review, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, lactam exports expanded rapidly to $X in 2023. In general, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see steady growth in the near future.

Exports by Country

Spain (X tons), the United States (X tons) and Italy (X tons) were the main destinations of lactam exports from India, with a combined X% share of total exports. Israel, the Netherlands, Belgium, Turkey, Germany, France, Saudi Arabia, Japan, the UK and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for lactams from heterocyclic compounds exports from India, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with an X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and the United States (X% per year).

Export Prices by Country

In 2023, the average lactam export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price showed a significant increase. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lactam Imports

Imports into India

In 2023, the amount of lactams from heterocyclic compounds imported into India contracted to X tons, reducing by X% on 2022 figures. Over the period under review, imports, however, saw a strong expansion. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, lactam imports reduced markedly to $X in 2023. In general, imports, however, saw strong growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

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

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of lactams from heterocyclic compounds to India, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Russia (X% per year).

Import Prices by Country

The average lactam import price stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price showed a slight setback. The most prominent rate of growth was recorded in 2022 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform