Middle East: Lactam Market 2024

Lactam Market Size in the Middle East

The Middle Eastern lactam market expanded markedly to $X in 2023, with an increase of X% against the previous year. In general, consumption showed a prominent increase. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Lactam Production in the Middle East

In value terms, lactam production expanded remarkably to $X in 2023 estimated in export price. Overall, production saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Lactam Exports

Exports in the Middle East

Lactam exports dropped dramatically to X tons in 2023, waning by X% on the previous year. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, lactam exports contracted markedly to $X in 2023. In general, exports continue to indicate a pronounced setback. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then shrank notably in the following year.

Exports by Country

In 2023, the United Arab Emirates (X tons), Turkey (X tons) and Israel (X tons) was the main exporter of lactams from heterocyclic compounds in the Middle East, achieving X% of total export. It was distantly followed by Jordan (X tons), comprising a X% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Jordan (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Israel ($X) remains the largest lactam supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Israel, lactam exports contracted by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, posted a strong increase. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Jordan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced more modest paces of growth.

Lactam Imports

Imports in the Middle East

Lactam imports surged to X tons in 2023, jumping by X% on the previous year's figure. Overall, imports saw a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, lactam imports reached $X in 2023. Over the period under review, imports saw buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Turkey was the main importer of lactams from heterocyclic compounds in the Middle East, with the volume of imports reaching X tons, which was near X% of total imports in 2023. It was distantly followed by Saudi Arabia (X tons), mixing up a X% share of total imports. Israel (X tons) and Iran (X tons) held a minor share of total imports.

Turkey was also the fastest-growing in terms of the lactams from heterocyclic compounds imports, with a CAGR of X% from 2012 to 2023. At the same time, Saudi Arabia (X%) displayed positive paces of growth. By contrast, Israel (X%) and Iran (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total imports, while Israel and Iran saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported lactams from heterocyclic compounds in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Israel ($X), with a X% share of total imports. It was followed by Saudi Arabia, with an X% share.

In Turkey, lactam imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Israel (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced sharply in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform