Lactam Market

The article provides a comprehensive analysis of the global lactam market, focusing on the increasing demand for lactams from heterocyclic compounds. It forecasts a steady growth trend in consumption, production, and exports of lactams, with the market expected to reach 3.2M tons and $113.2B by 2030. Key consuming countries include the United States, China, and Germany, while major exporters are Belgium, Russia, and China. The article also highlights price trends, with heterocyclic compounds other than 6-hexanelactam showing the highest growth in both value and volume.

Market Forecast

Driven by increasing demand for lactams from heterocyclic compounds worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 3.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $113.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Lactams From Heterocyclic Compounds

Global lactam consumption reduced to 2.7M tons in 2022, with a decrease of -7% compared with the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak volume of 2.9M tons, and then shrank in the following year.

The global lactam market value expanded to $79.4B in 2022, with an increase of 2.1% 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 +4.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs in 2022 and is likely to see steady growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (299K tons), China (270K tons) and Germany (232K tons), together accounting for 29% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the United States (with a CAGR of +11.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($8.7B) led the market, alone. The second position in the ranking was taken by China ($3.9B). It was followed by India.

In Germany, the lactam market increased at an average annual rate of +7.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: China (-4.2% per year) and India (+6.2% per year).

The countries with the highest levels of lactam per capita consumption in 2022 were Belarus (9.8 kg per person), the Netherlands (8.7 kg per person) and Germany (2.8 kg per person).

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +10.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Lactams From Heterocyclic Compounds

Global lactam production shrank to 2.7M tons in 2022, with a decrease of -6.4% compared with 2021. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 12% against the previous year. As a result, production attained the peak volume of 2.9M tons, and then reduced in the following year.

In value terms, lactam production dropped to $68.7B in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 21%. As a result, production attained the peak level of $75B, and then contracted in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (337K tons), Belgium (304K tons) and Russia (300K tons), together accounting for 35% of global production. China, the Netherlands, Japan, India, Belarus, Spain, Germany, Brazil, Thailand and Poland lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by China (with a CAGR of +15.2%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Lactams From Heterocyclic Compounds

In 2022, supplies from abroad of lactams from heterocyclic compounds decreased by -20.7% to 964K tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2020 with an increase of 7.5%. Over the period under review, global imports attained the peak figure at 1.9M tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, lactam imports surged to $56.6B in 2022. Overall, imports, however, saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Germany (223K tons), distantly followed by Italy (103K tons), China (101K tons), Taiwan (Chinese) (97K tons), South Korea (57K tons) and Switzerland (56K tons) were the key importers of lactams from heterocyclic compounds, together mixing up 66% of total imports. Belgium (35K tons), India (35K tons), Indonesia (34K tons), Slovenia (26K tons), Vietnam (25K tons), Canada (21K tons) and Japan (18K tons) held a little share of total imports.

Germany experienced a relatively flat trend pattern with regard to volume of imports of lactams from heterocyclic compounds. At the same time, Switzerland (+14.3%), India (+9.7%), Japan (+8.7%), Vietnam (+3.0%) and South Korea (+1.7%) displayed positive paces of growth. Moreover, Switzerland emerged as the fastest-growing importer imported in the world, with a CAGR of +14.3% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Canada (-1.4%), Belgium (-1.4%), Italy (-3.4%), Slovenia (-5.1%), Taiwan (Chinese) (-13.4%) and China (-17.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Germany, Switzerland, South Korea, Italy, India, Vietnam, Indonesia and Belgium increased by +12, +5.1, +3.4, +3, +2.9, +1.6, +1.6 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($27.3B) constitutes the largest market for imported lactams from heterocyclic compounds worldwide, comprising 48% of global imports. The second position in the ranking was taken by Italy ($1.5B), with a 2.6% share of global imports. It was followed by Belgium, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value in Germany amounted to +46.9%. The remaining importing countries recorded the following average annual rates of imports growth: Italy (-1.6% per year) and Belgium (-0.3% per year).

Imports By Type

Heterocyclic compounds; lactams; 6-hexanelactam (epsilon-caprolactam) (775K tons) and heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) (569K tons) represented roughly 99.9% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) (with a CAGR of +11.6%), while purchases for the other products experienced mixed trends in the imports figures.

In value terms, heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) ($54.8B) constitutes the largest type of lactams from heterocyclic compounds imported worldwide, comprising 97% of global imports. The second position in the ranking was taken by heterocyclic compounds; lactams; 6-hexanelactam (epsilon-caprolactam) ($1.8B), with a 3.2% share of global imports.

For heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam), imports expanded at an average annual rate of +24.3% over the period from 2012-2022. With regard to the other imported products, the following average annual rates of growth were recorded: heterocyclic compounds; lactams; 6-hexanelactam (epsilon-caprolactam) (-8.6% per year) and heterocyclic compounds; lactams; clobazam (INN) and methyprylon (INN) (-0.9% per year).

Import Prices By Type

In 2022, the average lactam import price amounted to $58,673 per ton, picking up by 222% against the previous year. In general, the import price enjoyed a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) ($96,326 per ton), while the price for heterocyclic compounds; lactams; 6-hexanelactam (epsilon-caprolactam) ($2,314 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) (+11.4%), while the other products experienced a decline in the import price figures.

Import Prices By Country

The average lactam import price stood at $58,673 per ton in 2022, jumping by 222% against the previous year. Overall, the import price enjoyed a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($122,312 per ton), while Indonesia ($2,166 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+46.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Lactams From Heterocyclic Compounds

In 2022, overseas shipments of lactams from heterocyclic compounds decreased by -19.5% to 965K tons, falling for the second consecutive year after two years of growth. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 3.6% against the previous year. Over the period under review, the global exports attained the maximum at 1.8M tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, lactam exports soared to $32.8B in 2022. Over the period under review, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 148%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

Belgium represented the major exporter of lactams from heterocyclic compounds in the world, with the volume of exports resulting at 279K tons, which was approx. 29% of total exports in 2022. Russia (125K tons) ranks second in terms of the total exports with a 13% share, followed by China (11%), Japan (10%), Germany (7.6%), the Netherlands (6.3%) and the United States (5.3%).

Exports from Belgium decreased at an average annual rate of -5.1% from 2012 to 2022. At the same time, China (+19.1%) and the Netherlands (+1.4%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of +19.1% from 2012-2022. By contrast, Germany (-4.3%), Russia (-5.6%), Japan (-7.9%) and the United States (-15.4%) illustrated a downward trend over the same period. China (+10 p.p.), the Netherlands (+3.4 p.p.) and Belgium (+3.2 p.p.) significantly strengthened its position in terms of the global exports, while Japan and the United States saw its share reduced by -2.1% and -9.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest lactam supplying countries worldwide were China ($3.9B), Belgium ($2.1B) and Germany ($1.3B), with a combined 23% share of global exports.

Among the main exporting countries, China, with a CAGR of +36.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced mixed trends in the exports figures.

Exports By Type

Heterocyclic compounds; lactams; 6-hexanelactam (epsilon-caprolactam) represented the largest exported product with an export of around 760K tons, which finished at 60% of total exports. It was distantly followed by heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) (498K tons), comprising a 40% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exported products, was attained by heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) (with a CAGR of +2.8%), while the other products experienced a decline in the exports figures.

In value terms, heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) ($30.9B) remains the largest type of lactams from heterocyclic compounds supplied worldwide, comprising 94% of global exports. The second position in the ranking was taken by heterocyclic compounds; lactams; 6-hexanelactam (epsilon-caprolactam) ($1.8B), with a 5.6% share of global exports.

For heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam), exports increased at an average annual rate of +19.4% over the period from 2012-2022. With regard to the other exported products, the following average annual rates of growth were recorded: heterocyclic compounds; lactams; 6-hexanelactam (epsilon-caprolactam) (-7.7% per year) and heterocyclic compounds; lactams; clobazam (INN) and methyprylon (INN) (-0.0% per year).

Export Prices By Type

The average lactam export price stood at $33,953 per ton in 2022, with an increase of 125% against the previous year. Overall, the export price saw significant growth. The growth pace was the most rapid in 2018 an increase of 163% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) ($62,151 per ton), while the average price for exports of heterocyclic compounds; lactams; 6-hexanelactam (epsilon-caprolactam) ($2,414 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by heterocyclic compounds; lactams; other than 6-hexanelactam (epsilon caprolactam) (+16.1%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

In 2022, the average lactam export price amounted to $33,953 per ton, growing by 125% against the previous year. Overall, the export price showed a significant increase. The pace of growth was the most pronounced in 2018 an increase of 163% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($35,977 per ton), while Russia ($2,997 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+19.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform