China: Lactam Market 2024

Lactam Market Size in China

In 2021, the Chinese lactam market decreased by -2.3% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption saw a drastic downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Lactam Production in China

In value terms, lactam production expanded sharply to $X in 2021 estimated in export price. In general, production posted a significant increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 43,152% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Lactam Exports

Exports from China

In 2021, approx. X tons of lactams from heterocyclic compounds were exported from China; increasing by 76% on 2020. In general, exports posted a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lactam exports soared to $X in 2021. Overall, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons), Ireland (X tons) and Japan (X tons) were the main destinations of lactam exports from China, with a combined 47% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +160.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), India ($X) and South Korea ($X) constituted the largest markets for lactam exported from China worldwide, together accounting for 45% of total exports.

In terms of the main countries of destination, Ireland, with a CAGR of +175.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lactam export price amounted to $X per ton, increasing by 9.9% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% 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 +67.3% against 2015 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 19%. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lactam Imports

Imports into China

In 2021, after two years of growth, there was significant decline in overseas purchases of lactams from heterocyclic compounds, when their volume decreased by -55.1% to X tons. Over the period under review, imports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2020 when imports increased by 31%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, lactam imports fell dramatically to $X in 2021. In general, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 51% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of lactam to China, with a 49% share of total imports. Moreover, lactam imports from Russia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume from Russia totaled -10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-9.4% per year) and South Korea (-13.0% per year).

In value terms, Russia ($X) constituted the largest supplier of lactams from heterocyclic compounds to China, comprising 33% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia amounted to -14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-8.4% per year) and Belgium (-14.7% per year).

Import Prices by Country

The average lactam import price stood at $X per ton in 2021, picking up by 80% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Belgium ($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 (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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