Asia: Glutamic Acid Market 2024

Glutamic Acid Market Size in Asia

In 2022, the Asian glutamic acid market increased by X% to $X, rising for the second consecutive year after four years of decline. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Glutamic Acid Production in Asia

In value terms, glutamic acid production shrank slightly to $X in 2022 estimated in export price. Overall, production recorded a noticeable decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Glutamic Acid Exports

Exports in Asia

In 2022, approx. X tons of glutamic acid and its salts were exported in Asia; picking up by X% against the previous year's figure. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, glutamic acid exports soared to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Indonesia (X tons), Thailand (X tons) and Vietnam (X tons), together committing a X% share of total exports. Malaysia (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to glutamic acid exports from China stood at X%. At the same time, Malaysia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (X p.p.) and Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glutamic acid supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

In China, glutamic acid exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price, however, continues to indicate a mild downturn. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Malaysia ($X per ton) and Thailand ($X per ton), while China ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the export price figures.

Glutamic Acid Imports

Imports in Asia

In 2022, glutamic acid imports in Asia rose significantly to X tons, with an increase of X% on 2021 figures. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, glutamic acid imports skyrocketed to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X tons), Thailand (X tons), Indonesia (X tons), Vietnam (X tons), Malaysia (X tons), the Philippines (X tons), South Korea (X tons), India (X tons), Taiwan (Chinese) (X tons) and Myanmar (X tons) was the major importer of glutamic acid and its salts in Asia, making up X% of total import. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

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

In value terms, Japan ($X), Thailand ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Indonesia, Malaysia, the Philippines, India, South Korea, Taiwan (Chinese), Myanmar and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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