Europe: Glutamic Acid Market 2024

Glutamic Acid Market Size in Europe

In 2022, the Europe glutamic acid market increased by 11% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, showed a slight expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Glutamic Acid Production in Europe

In value terms, glutamic acid production dropped dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by 2,348,543%. As a result, production reached the peak level of $X, and then shrank dramatically in the following year.

Glutamic Acid Exports

Exports in Europe

In 2022, shipments abroad of glutamic acid and its salts decreased by -19.9% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 707%. As a result, the exports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, glutamic acid exports reached $X in 2022. Overall, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by 500% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

France prevails in exports structure, amounting to X tons, which was near 85% of total exports in 2022. It was distantly followed by the Netherlands (X tons), mixing up a 6.5% share of total exports. The following exporters - Poland (X tons) and Germany (X tons) - each accounted for a 4.4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to glutamic acid exports from France stood at -22.2%. At the same time, Poland (+20.9%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Europe, 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. From 2012 to 2022, the share of France increased by +85 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) remains the largest glutamic acid supplier in Europe, comprising 81% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 8.2% share of total exports. It was followed by Germany, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value in France totaled +7.3%. 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 Europe amounted to $X per ton, with an increase of 35% against the previous year. Over the period under review, 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 Europe

Glutamic acid imports dropped slightly to X tons in 2022, which is down by -4.9% on 2021 figures. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 8.4% against the previous year. As a result, imports attained the peak of X tons, and then fell modestly 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 +1.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, Spain (X tons), Russia (X tons), Germany (X tons), the UK (X tons), the Netherlands (X tons), Poland (X tons), Croatia (X tons), Austria (X tons), Italy (X tons), Switzerland (X tons), Portugal (X tons) and Hungary (X tons) represented the largest importer of glutamic acid and its salts in Europe, creating 87% of total import.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +7.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glutamic acid importing markets in Europe were Spain ($X), Germany ($X) and the UK ($X), together accounting for 39% of total imports. The Netherlands, Russia, Poland, Austria, Croatia, Italy, Switzerland, Hungary and Portugal lagged somewhat behind, together accounting for a further 45%.

Among the main importing countries, Portugal, with a CAGR of +9.7%, saw the highest growth rate of 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

In 2022, the import price in Europe amounted to $X per ton, rising by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform