China: Glutamic Acid Market 2024

Glutamic Acid Market Size in China

The Chinese glutamic acid market shrank markedly to $X in 2022, which is down by -82.1% against the previous year. In general, consumption saw a precipitous descent. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Glutamic Acid Production in China

In value terms, glutamic acid production declined slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Glutamic Acid Exports

Exports from China

In 2022, the amount of glutamic acid and its salts exported from China skyrocketed to X tons, picking up by 24% compared with 2021 figures. In general, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 71%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, glutamic acid exports soared to $X in 2022. Overall, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2019 when exports increased by 68%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Thailand (X tons), Vietnam (X tons) and Indonesia (X tons) were the main destinations of glutamic acid exports from China, with a combined 41% share of total exports. Nigeria, Myanmar, India, Malaysia, the Philippines, Japan, South Korea, South Africa, Russia and Mexico lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +20.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Indonesia ($X) constituted the largest markets for glutamic acid exported from China worldwide, together accounting for 40% of total exports. Nigeria, Myanmar, India, Malaysia, the Philippines, Japan, South Korea, South Africa, Russia and Mexico lagged somewhat behind, together comprising a further 36%.

Nigeria, with a CAGR of +19.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glutamic acid export price stood at $X per ton in 2022, rising by 14% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 29%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Nigeria ($X per ton) and South Africa ($X per ton), while the average price for exports to Indonesia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-0.3%), while the prices for the other major destinations experienced a decline.

Glutamic Acid Imports

Imports into China

In 2022, approx. X tons of glutamic acid and its salts were imported into China; with an increase of 117% against the year before. In general, imports saw perceptible growth. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, glutamic acid imports skyrocketed to $X in 2022. Overall, imports showed a measured expansion. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest glutamic acid supplier to China, accounting for a 83% share of total imports. Moreover, glutamic acid imports from Vietnam exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume from Vietnam totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+9.2% per year) and Japan (+2.6% per year).

In value terms, Vietnam ($X), Japan ($X) and Indonesia ($X) were the largest glutamic acid suppliers to China, together accounting for 61% of total imports.

Among the main suppliers, Vietnam, with a CAGR of +4.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average glutamic acid import price amounted to $X per ton, waning by -5.6% against the previous year. Overall, the import price saw a slight curtailment. The pace of growth was the most pronounced in 2020 when the average import price increased by 89% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Vietnam ($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 (-2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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