Italy: Hydantoin Market 2024

Hydantoin Market Size in Italy

After two years of decline, the Italian hydantoin market increased by 45% to $X in 2022. Over the period under review, consumption, however, saw a deep setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Hydantoin Production in Italy

In value terms, hydantoin production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 217% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Hydantoin Exports

Exports from Italy

For the third consecutive year, Italy recorded growth in shipments abroad of hydantoin and its derivatives, which increased by 3% to X tons in 2022. Overall, exports showed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 96%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, hydantoin exports shrank to $X in 2022. In general, exports posted resilient growth. The pace of growth appeared the most rapid in 2016 when exports increased by 207% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons), Bangladesh (X tons) and the UK (X tons) were the main destinations of hydantoin exports from Italy, together comprising 28% of total exports. Brazil, Colombia, Ecuador, Ireland, South Africa, Croatia, Thailand, the United States, Romania and Indonesia lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +102.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydantoin exported from Italy were Brazil ($X), South Africa ($X) and the United States ($X), with a combined 42% share of total exports. Spain, Bangladesh, Ireland, Thailand, the UK, Indonesia, Romania, Croatia, Colombia and Ecuador lagged somewhat behind, together accounting for a further 25%.

Croatia, with a CAGR of +79.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hydantoin export price stood at $X per ton in 2022, reducing by -5.1% against the previous year. Overall, the export price continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by 91% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+8.9%), while the prices for the other major destinations experienced mixed trend patterns.

Hydantoin Imports

Imports into Italy

In 2022, overseas purchases of hydantoin and its derivatives were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a mild descent. The pace of growth was the most pronounced in 2013 with an increase of 28%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, hydantoin imports soared to $X in 2022. In general, imports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2013 when imports increased by 81% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Israel (X tons) constituted the largest supplier of hydantoin to Italy, with a 46% share of total imports. Moreover, hydantoin imports from Israel exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Belgium (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Israel stood at +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.4% per year) and Belgium (-4.9% per year).

In value terms, Israel ($X) constituted the largest supplier of hydantoin and its derivatives to Italy, comprising 33% of total imports. The second position in the ranking was held by Hungary ($X), with a 13% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Israel stood at +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (0.0% per year) and China (-14.3% per year).

Import Prices by Country

In 2022, the average hydantoin import price amounted to $X per ton, with an increase of 47% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable setback. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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