EU: Glutamic Acid Market 2024

Glutamic Acid Market Size in the EU

In 2022, the EU glutamic acid market increased by 13% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Glutamic Acid Production in the EU

In value terms, glutamic acid production declined markedly to $X in 2022 estimated in export price. In general, production, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 2,349,181% against the previous year. As a result, production reached the peak level of $X, and then contracted dramatically in the following year.

Glutamic Acid Exports

Exports in the EU

After four years of growth, shipments abroad of glutamic acid and its salts decreased by -20.1% to X tons in 2022. In general, exports, however, showed strong growth. The pace of growth was the most pronounced in 2021 with an increase of 787% against the previous year. As a result, the exports reached the peak of X tons, and then reduced rapidly in the following year.

In value terms, glutamic acid exports rose notably to $X in 2022. Overall, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 569% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

France prevails in exports structure, recording X tons, which was near 86% of total exports in 2022. It was distantly followed by the Netherlands (X tons), committing a 6.6% share of total exports. The following exporters - Poland (X tons) and Germany (X tons) - each finished at a 4.4% share of total exports.

Exports from France decreased at an average annual rate of -22.2% from 2012 to 2022. At the same time, Poland (+20.9%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +20.9% from 2012-2022. By contrast, Germany (-1.8%) and the Netherlands (-4.3%) illustrated a downward trend over the same period. France (+86 p.p.) significantly strengthened its position in terms of the total exports, while Germany and the Netherlands saw its share reduced by -13% and -55.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) remains the largest glutamic acid supplier in the European Union, comprising 82% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 8.2% share of total exports. It was followed by Germany, with a 3.9% share.

In France, glutamic acid exports expanded at an average annual rate of +7.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (-1.2% per year) and Germany (+1.3% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, increasing by 36% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+37.9%), while the other leaders experienced more modest paces of growth.

Glutamic Acid Imports

Imports in the EU

Glutamic acid imports fell to X tons in 2022, with a decrease of -7.5% compared with the previous year's figure. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 13%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, glutamic acid imports surged to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of glutamic acid and its salts, namely Spain, Germany, the Netherlands, Poland, Croatia, Austria, Italy, Portugal, Hungary, Slovakia, France and Romania, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Portugal (with a CAGR of +7.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glutamic acid importing markets in the European Union were Spain ($X), Germany ($X) and the Netherlands ($X), with a combined 51% share of total imports. Poland, Austria, Croatia, Italy, Hungary, Portugal, Slovakia, France and Romania lagged somewhat behind, together accounting for a further 39%.

Portugal, with a CAGR of +9.7%, 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 the European Union stood at $X per ton in 2022, surging by 30% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Romania ($X per ton) and Hungary ($X per ton), while Spain ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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