Asia: Lactam Market 2025

Lactam Market Size in Asia

In 2021, the Asian lactam market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Lactam Production in Asia

In value terms, lactam production expanded significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 32% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Lactam Exports

Exports in Asia

In 2021, overseas shipments of lactams from heterocyclic compounds increased by 8.1% to X tons, rising for the fifth consecutive year after four years of decline. In general, exports, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2019 with an increase of 8.7% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, lactam exports rose modestly to $X in 2021. Overall, exports, however, recorded a mild downturn. The pace of growth was the most pronounced in 2016 when exports increased by 71% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Japan (X tons) represented the main exporter of lactams from heterocyclic compounds, creating 39% of total exports. It was distantly followed by China (X tons), South Korea (X tons) and Thailand (X tons), together constituting a 54% share of total exports. The following exporters - India (X tons) and Taiwan (Chinese) (X tons) - together made up 6.2% 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 Taiwan (Chinese) (with a CAGR of +19.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest lactam supplier in Asia, comprising 36% of total exports. The second position in the ranking was held by Japan ($X), with a 16% share of total exports. It was followed by India, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +16.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-17.1% per year) and India (+13.5% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, which is down by -5.6% against the previous year. Export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lactam export price increased by +14.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 82%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.9%), while the other leaders experienced mixed trends in the export price figures.

Lactam Imports

Imports in Asia

After two years of growth, purchases abroad of lactams from heterocyclic compounds decreased by -13.7% to X tons in 2021. In general, imports showed a deep setback. The pace of growth was the most pronounced in 2020 when imports increased by 9.9%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, lactam imports skyrocketed to $X in 2021. Overall, imports recorded a deep downturn. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons) and China (X tons) represented roughly 52% of total imports in 2021. It was distantly followed by India (X tons), South Korea (X tons), Vietnam (X tons), Turkey (X tons) and Indonesia (X tons), together generating a 41% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of +36.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lactam importing markets in Asia were Taiwan (Chinese) ($X), China ($X) and South Korea ($X), with a combined 48% share of total imports. These countries were followed by India, Turkey, Vietnam and Indonesia, which together accounted for a further 27%.

Among the main importing countries, Turkey, with a CAGR of +28.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, jumping by 44% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. 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 importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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