HS Code:
Lactones (HS Code: 2932.20) are a category of cyclic esters derived from hydroxy acids, widely used in the chemical, pharmaceutical, and food industries. They serve as key intermediates in the synthesis of various compounds, including flavors, fragrances, and biodegradable polymers like polylactic acid (PLA). Lactones are also essential in the production of antibiotics and other bioactive molecules. This category includes natural and synthetic lactones, with gamma- and delta-lactones being among the most common due to their stability and versatility in applications.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 250 million
20.8% of total trade of total trade
Stable
USD 180 million
15.0% of total trade of total trade
Increasing
USD 120 million
10.0% of total trade of total trade
Stable
USD 90 million
7.5% of total trade of total trade
Increasing
Average Rate
5.6% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for biodegradable polymers
Increased trade in lactones like lactide for PLA production, driven by sustainability goals and plastic bans
2021-2023
Growth in natural flavor and fragrance markets
Boost in exports of gamma-lactones for use in food and cosmetic industries, especially in Europe and North America
2020-2022
Technological advancements in synthesis
Lower production costs for synthetic lactones, enhancing competitiveness of major exporters like China
2019-2023
The European Union introduced new REACH compliance requirements for lactone imports, focusing on environmental and safety standards.
March 2023
Potential increase in compliance costs for exporters to the EU, possibly shifting trade to less regulated markets.
A revised trade agreement reduced tariffs on certain chemical intermediates, including lactones, between the US and China.
January 2023
Expected to boost trade volumes between the two countries, with China likely to increase exports to the US market.
A major pharmaceutical company announced a new antibiotic derived from lactones, driving demand for specific compounds.
September 2022
Increased import demand in pharmaceutical hubs like the US and Germany, benefiting key exporters.