Asia-Pacific: Glutamic Acid Market 2024

Glutamic Acid Market Size in Asia-Pacific

In 2022, the Asia-Pacific glutamic acid market increased by 7.4% to $X, rising for the second consecutive year after four years of decline. In general, consumption recorded a perceptible decrease. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Glutamic Acid Production in Asia-Pacific

In value terms, glutamic acid production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a perceptible downturn. The growth pace was the most rapid in 2016 when the production volume increased by 12% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Glutamic Acid Exports

Exports in Asia-Pacific

In 2022, exports of glutamic acid and its salts in Asia-Pacific soared to X tons, rising by 19% on 2021 figures. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when exports increased by 42%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, glutamic acid exports skyrocketed to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +90.5% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of glutamic acid and its salts in Asia-Pacific, with the volume of exports accounting for X tons, which was near 73% of total exports in 2022. It was distantly followed by Indonesia (X tons), Thailand (X tons) and Vietnam (X tons), together making up a 24% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the glutamic acid and its salts exports, with a CAGR of +10.4% from 2012 to 2022. At the same time, Thailand (+5.6%) displayed positive paces of growth. Vietnam experienced a relatively flat trend pattern. By contrast, Indonesia (-1.4%) and Taiwan (Chinese) (-6.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +23 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glutamic acid supplier in Asia-Pacific, comprising 66% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 14% share of total exports. It was followed by Thailand, with an 11% share.

In China, glutamic acid exports expanded at an average annual rate of +9.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-0.1% per year) and Thailand (+4.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, surging by 12% against the previous year. Overall, the export price, however, saw a slight downturn. The most prominent rate of growth was recorded in 2021 an increase of 20% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($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 (+1.3%), while the other leaders experienced a decline in the export price figures.

Glutamic Acid Imports

Imports in Asia-Pacific

In 2022, approx. X tons of glutamic acid and its salts were imported in Asia-Pacific; growing by 12% on the year before. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +15.9% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 19% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, glutamic acid imports soared to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +49.0% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of glutamic acid imports in 2022 were Indonesia (X tons), Japan (X tons) and Thailand (X tons), together recording 47% of total import. Vietnam (X tons) ranks next in terms of the total imports with an 8.4% share, followed by the Philippines (7.2%), South Korea (6.6%), Malaysia (6.1%), India (6%) and Taiwan (Chinese) (5.1%).

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +16.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glutamic acid importing markets in Asia-Pacific were Japan ($X), Indonesia ($X) and Thailand ($X), with a combined 47% share of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +18.4%, saw the highest rates of growth with regard to the value of imports, 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-Pacific stood at $X per ton in 2022, surging by 21% against the previous year. In general, the import price, however, showed 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 failed to regain momentum.

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 India ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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