Global Lactam Market 2022

Lactam Market Size

After three years of growth, the global lactam market decreased by -4.2% to $X in 2021. Over the period under review, consumption continues to indicate buoyant growth. Global consumption peaked at $X in 2020, and then dropped modestly in the following year.

Lactam Production

In value terms, lactam production contracted modestly to $X in 2021 estimated in export price. In general, production, however, showed a noticeable curtailment. The pace of growth was the most pronounced in 2015 with an increase of 17%. As a result, production reached the peak level of $X. From 2016 to 2021, global production growth remained at a lower figure.

Lactam Exports

Exports

After three years of decline, overseas shipments of lactams from heterocyclic compounds increased by 2.7% to X tons in 2021. Over the period under review, exports, however, continue to indicate a noticeable shrinkage. The global exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, lactam exports skyrocketed to $X in 2021. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 153%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the global exports remained at a somewhat lower figure.

Exports by Country

In 2021, Belgium (X tons), distantly followed by Russia (X tons), Japan (X tons), the Netherlands (X tons), the United States (X tons), Germany (X tons) and China (X tons) were the largest exporters of lactams from heterocyclic compounds, together generating 77% of total exports. The following exporters - Mexico (X tons), Poland (X tons), the Czech Republic (X tons), Belarus (X tons), Spain (X tons), South Korea (X tons), Thailand (X tons), the UK (X tons) and Singapore (X tons) - together made up 19% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the UK (with a CAGR of +58.0%), while the other global leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the largest lactam supplier worldwide, comprising 16% of global exports. The second position in the ranking was taken by Belgium ($X), with a 6.4% share of global exports. It was followed by China, with a 3.9% share.

In the UK, lactam exports increased at an average annual rate of +67.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (-8.0% per year) and China (+16.5% per year).

Export Prices by Country

The average lactam export price stood at $X per ton in 2021, picking up by 21% against the previous year. Overall, the export price saw prominent growth. The growth pace was the most rapid in 2018 when the average export price increased by 160%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+10.4%), while the other global leaders experienced more modest paces of growth.

Lactam Imports

Imports

After two years of decline, purchases abroad of lactams from heterocyclic compounds increased by 2% to X tons in 2021. Over the period under review, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2018 when imports increased by 7.8% against the previous year. Global imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, lactam imports reached $X in 2021. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 120% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of global imports failed to regain momentum.

Imports by Country

The countries with the highest levels of lactam imports in 2021 were Italy (X tons), Taiwan (Chinese) (X tons), China (X tons) and Germany (X tons), together reaching 54% of total import. Italy (X tons) ranks next in terms of the total imports with an 11% share, followed by India (6.4%). Vietnam (X tons), Slovenia (X tons), Indonesia (X tons), Turkey (X tons), Switzerland (X tons), Belgium (X tons), South Korea (X tons) and the UK (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +21.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest lactam importing markets worldwide were Germany ($X), the UK ($X) and Italy ($X), with a combined 41% share of global imports.

The UK, with a CAGR of +54.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average lactam import price stood at $X per ton in 2021, almost unchanged from the previous year. In general, the import price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 104% against the previous year. Global import price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the UK ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+27.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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