Belgium: Glutamic Acid Market 2024

Glutamic Acid Market Size in Belgium

In 2022, the Belgian glutamic acid market increased by 4.9% to $X for the first time since 2017, thus ending a four-year declining trend. In general, consumption saw a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Glutamic Acid Exports

Exports from Belgium

In 2022, overseas shipments of glutamic acid and its salts decreased by -55.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports showed a sharp setback. The pace of growth was the most pronounced in 2020 when exports increased by 431%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, glutamic acid exports shrank notably to $X in 2022. In general, exports faced a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 414% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for glutamic acid exports from Belgium, with a 64% share of total exports. Moreover, glutamic acid exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), threefold. Switzerland (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to -23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-14.2% per year) and Switzerland (+72.2% per year).

In value terms, the Netherlands ($X) remains the key foreign market for glutamic acid and its salts exports from Belgium, comprising 38% of total exports. The second position in the ranking was taken by France ($X), with a 14% share of total exports. It was followed by Sweden, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled -23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-14.6% per year) and Sweden (+5.9% per year).

Export Prices by Country

The average glutamic acid export price stood at $X per ton in 2022, picking up by 12% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glutamic acid export price increased by +70.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 52%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Glutamic Acid Imports

Imports into Belgium

In 2022, imports of glutamic acid and its salts into Belgium dropped markedly to X tons, declining by -30.7% against the previous year's figure. Overall, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 27%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, glutamic acid imports reduced modestly to $X in 2022. In general, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 42%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Germany (X tons) and France (X tons) were the main suppliers of glutamic acid imports to Belgium, together comprising 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of -3.8%), while imports for the other leaders experienced a decline.

In value terms, the largest glutamic acid suppliers to Belgium were the Netherlands ($X), Germany ($X) and France ($X), together accounting for 90% of total imports.

Germany, with a CAGR of -1.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average glutamic acid import price amounted to $X per ton, growing by 38% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for France ($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 (+32.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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