Eastern Europe: Glutamic Acid Market 2024

Glutamic Acid Exports

Exports in Eastern Europe

In 2022, shipments abroad of glutamic acid and its salts decreased by -1.5% to X tons, falling for the third year in a row after three years of growth. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 140% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, glutamic acid exports surged to $X in 2022. Over the period under review, exports, however, posted significant growth. The growth pace was the most rapid in 2015 when exports increased by 150% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

In 2022, Poland (X tons) represented the key exporter of glutamic acid and its salts, comprising 61% of total exports. It was distantly followed by Hungary (X tons), the Czech Republic (X tons) and Russia (X tons), together creating a 33% share of total exports. Latvia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to glutamic acid exports from Poland stood at +20.9%. At the same time, Hungary (+94.2%), Latvia (+77.4%), the Czech Republic (+38.1%) and Russia (+14.1%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +94.2% from 2012-2022. Hungary (+12 p.p.), the Czech Republic (+8.9 p.p.) and Latvia (+2.9 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -6.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest glutamic acid supplier in Eastern Europe, comprising 63% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 13% share of total exports. It was followed by Hungary, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value in Poland stood at +23.4%. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (+39.6% per year) and Hungary (+64.4% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, rising by 30% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Latvia ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Glutamic Acid Imports

Imports in Eastern Europe

After two years of growth, purchases abroad of glutamic acid and its salts decreased by -8.1% to X tons in 2022. The total import volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 24% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, glutamic acid imports reached $X in 2022. The total import value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Russia (X tons) was the main importer of glutamic acid and its salts, committing 45% of total imports. Poland (X tons) ranks second in terms of the total imports with a 22% share, followed by Hungary (8.5%), Slovakia (6.2%), Ukraine (5.5%) and Romania (4.7%). The Czech Republic (X tons) followed a long way behind the leaders.

Russia was also the fastest-growing in terms of the glutamic acid and its salts imports, with a CAGR of +3.4% from 2012 to 2022. At the same time, Ukraine (+2.6%), Hungary (+2.6%), Romania (+2.0%) and Slovakia (+1.6%) displayed positive paces of growth. Poland and the Czech Republic experienced a relatively flat trend pattern. Russia (+5.8 p.p.) significantly strengthened its position in terms of the total imports, while Poland saw its share reduced by -6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glutamic acid importing markets in Eastern Europe were Russia ($X), Poland ($X) and Hungary ($X), together comprising 69% of total imports.

Hungary, with a CAGR of +4.7%, recorded the highest rates of growth with regard to the value of imports, among 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 Eastern Europe stood at $X per ton in 2022, picking up by 16% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The level of import peaked 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 Romania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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