Heterocyclic Compound Market

The article discusses the increasing demand for heterocyclic compounds globally, with a projected growth in market volume and value by 2030. It covers insights on market performance, consumption trends, production, exports, and imports of heterocyclic compounds. Key countries and types of heterocyclic compounds are also highlighted, along with pricing trends over the years.

Market Forecast

Driven by rising demand for heterocyclic compound worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 3.5M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $161B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Heterocyclic Compounds

In 2022, approx. 2.6M tons of heterocyclic compounds were consumed worldwide; declining by -2.3% against 2021 figures. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak volume of 2.7M tons. From 2020 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global heterocyclic compound market size declined modestly to $101.3B in 2022, therefore, remained relatively stable 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). Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the global market attained the peak level at $112.6B in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (557K tons), the United States (405K tons) and India (232K tons), together accounting for 46% 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 +5.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($16.4B), China ($9.3B) and Japan ($5.1B) were the countries with the highest levels of market value in 2022, together comprising 30% of the global market.

China, with a CAGR of +6.4%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of heterocyclic compound per capita consumption was registered in Belgium (15 kg per person), followed by Poland (2.6 kg per person), Spain (1.8 kg per person) and Saudi Arabia (1.3 kg per person), while the world average per capita consumption of heterocyclic compound was estimated at 0.3 kg per person.

In Belgium, heterocyclic compound per capita consumption declined by an average annual rate of -5.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Poland (-0.5% per year) and Spain (-1.2% per year).

Production

World Production of Heterocyclic Compounds

Global heterocyclic compound production declined to 2.5M tons in 2022, dropping by -3% on 2021. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 11%. Over the period under review, global production attained the maximum volume at 2.7M tons in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

In value terms, heterocyclic compound production dropped modestly to $106.9B in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 57% against the previous year. As a result, production reached the peak level of $156B. From 2014 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (678K tons), the United States (364K tons) and India (244K tons), with a combined 52% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by the United States (with a CAGR of +4.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Heterocyclic Compounds

In 2022, supplies from abroad of heterocyclic compounds increased by 19% to 422K tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, heterocyclic compound imports rose notably to $14.8B in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 19% against the previous year. As a result, imports reached the peak of $16.1B. From 2021 to 2022, the growth of global imports failed to regain momentum.

Imports By Country

In 2022, the United States (68K tons), distantly followed by Brazil (38K tons), Indonesia (37K tons), India (36K tons), Australia (24K tons), the UK (21K tons) and Mexico (20K tons) were the main importers of heterocyclic compounds, together committing 58% of total imports. China (19K tons), France (18K tons), Germany (13K tons), South Korea (10K tons), Italy (9.3K tons) and Paraguay (9.2K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +10.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.6B), the United States ($1.8B) and Brazil ($1.4B) constituted the countries with the highest levels of imports in 2022, together comprising 39% of global imports. France, China, India, Italy, South Korea, the UK, Indonesia, Australia, Mexico and Paraguay lagged somewhat behind, together comprising a further 27%.

Among the main importing countries, China, with a CAGR of +13.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts (344K tons) was the key type of heterocyclic compounds, making up 89% of total imports. It was distantly followed by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts (39K tons), making up a 10% share of total imports.

Heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts was also the fastest-growing in terms of imports, with a CAGR of +3.2% from 2012 to 2022. At the same time, heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts (+2.1%) displayed positive paces of growth. Heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts (+6.8 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other products remained relatively stable throughout the analyzed period.

In value terms, heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts ($14.5B) constitutes the largest type of heterocyclic compounds imported worldwide, comprising 98% of global imports. The second position in the ranking was taken by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts ($243M), with a 1.6% share of global imports. It was followed by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts, with a 0.6% share.

For heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, imports expanded at an average annual rate of +2.2% over the period from 2012-2022. For the other products, the average annual rates were as follows: heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts (+3.4% per year) and heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts (-8.7% per year).

Import Prices By Type

The average heterocyclic compound import price stood at $35,136 per ton in 2022, declining by -11.2% against the previous year. In general, the import price recorded a slight setback. The pace of growth appeared the most rapid in 2020 an increase of 27%. As a result, import price reached the peak level of $48,376 per ton. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts ($270,459 per ton), while the price for heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts ($6,234 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; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts (+5.7%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

The average heterocyclic compound import price stood at $35,136 per ton in 2022, reducing by -11.2% against the previous year. In general, the import price showed a slight descent. The pace of growth was the most pronounced in 2020 when the average import price increased by 27%. As a result, import price reached the peak level of $48,376 per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($198,755 per ton), while Indonesia ($6,271 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Heterocyclic Compounds

In 2022, shipments abroad of heterocyclic compounds increased by 18% to 336K tons, rising for the third year in a row after two years of decline. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 21%. Over the period under review, the global exports hit record highs at 339K tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, heterocyclic compound exports contracted modestly to $12.6B in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 24%. As a result, the exports attained the peak of $15.2B. From 2021 to 2022, the growth of the global exports remained at a lower figure.

Exports By Country

China represented the largest exporter of heterocyclic compounds in the world, with the volume of exports accounting for 140K tons, which was approx. 42% of total exports in 2022. India (48K tons) ranks second in terms of the total exports with a 14% share, followed by the UK (12%), Germany (8%) and the United States (8%). France (10K tons) and Japan (6.7K tons) held a minor share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of heterocyclic compounds. At the same time, India (+8.2%) and France (+6.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.2% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, the UK (-2.0%), the United States (-2.8%) and Japan (-5.2%) illustrated a downward trend over the same period. India (+7.9 p.p.) significantly strengthened its position in terms of the global exports, while the United States and the UK saw its share reduced by -2.5% and -2.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.4B) remains the largest heterocyclic compound supplier worldwide, comprising 27% of global exports. The second position in the ranking was held by the United States ($1.4B), with an 11% share of global exports. It was followed by India, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +9.7%. In the other countries, the average annual rates were as follows: the United States (-2.3% per year) and India (+17.3% per year).

Exports By Type

Heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts prevails in exports structure, accounting for 291K tons, which was approx. 93% of total exports in 2022. It was distantly followed by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts (21K tons), comprising a 6.7% share of total exports.

Heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts experienced a relatively flat trend pattern with regard to volume of exports. Heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts experienced a relatively flat trend pattern. Heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts (+2.4 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other products remained relatively stable throughout the analyzed period.

In value terms, heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts ($12.3B) remains the largest type of heterocyclic compounds supplied worldwide, comprising 98% of global exports. The second position in the ranking was held by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts ($154M), with a 1.2% share of global exports. It was followed by heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts, with a 0.6% share.

From 2012 to 2022, the average annual rate of growth in terms of the value of heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts exports was relatively modest. For the other products, the average annual rates were as follows: heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts (-2.0% per year) and heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts (-7.8% per year).

Export Prices By Type

In 2022, the average heterocyclic compound export price amounted to $37,569 per ton, falling by -19.5% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 26% against the previous year. The global export price peaked at $55,872 per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts ($292,472 per ton), while the average price for exports of heterocyclic compounds; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, pyridine and its salts ($7,294 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; containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts (+0.4%), while the other products experienced a decline in the export price figures.

Export Prices By Country

The average heterocyclic compound export price stood at $37,569 per ton in 2022, which is down by -19.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 26% against the previous year. The global export price peaked at $55,872 per ton in 2020; however, from 2021 to 2022, 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 France ($74,701 per ton), while the UK ($7,716 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform