Report Update Nov 1, 2024

Iraq - Glutamic Acid and Its Salts - Market Analysis, Forecast, Size, Trends and Insights

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Iraq: Glutamic Acid Market 2024

Glutamic Acid Market Size in Iraq

The Iraqi glutamic acid market fell to $X in 2022, dropping by -13.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a prominent expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Glutamic Acid Exports

Exports from Iraq

In 2021, approx. X kg of glutamic acid and its salts were exported from Iraq; with a decrease of -50% compared with the year before. Over the period under review, exports continue to indicate a precipitous setback. Over the period under review, the exports attained the maximum at X kg in 2020, and then contracted notably in the following year.

In value terms, glutamic acid exports dropped rapidly to $X in 2021. In general, exports showed a precipitous decrease. Over the period under review, the exports hit record highs at $X in 2020, and then declined rapidly in the following year.

Exports by Country

Turkey (X kg) was the main destination for glutamic acid exports from Iraq, accounting for a approx. 100% share of total exports.

From 2020 to 2021, the average annual growth rate of volume to Turkey stood at -50.0%.

In value terms, Turkey ($X) also remains the key foreign market for glutamic acid and its salts exports from Iraq.

From 2020 to 2021, the average annual rate of growth in terms of value to Turkey totaled -40.7%.

Export Prices by Country

In 2021, the average glutamic acid export price amounted to $X per ton, growing by 19% against the previous year. Over the period from 2020 to 2021, it increased at an average annual rate of +18.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2020 to 2021, the rate of growth in terms of prices for Turkey amounted to +18.7% per year.

Glutamic Acid Imports

Imports into Iraq

In 2022, glutamic acid imports into Iraq declined to X tons, which is down by -11.9% against 2021. Overall, imports, however, saw a strong expansion. The growth pace was the most rapid in 2019 with an increase of 774% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, glutamic acid imports fell dramatically to $X in 2022. In general, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2019 when imports increased by 249%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest glutamic acid supplier to Iraq, with a 44% share of total imports. Moreover, glutamic acid imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +50.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+0.9% per year) and Germany (-8.7% per year).

In value terms, China ($X), Turkey ($X) and Germany ($X) were the largest glutamic acid suppliers to Iraq, with a combined 48% share of total imports.

Among the main suppliers, China, with a CAGR of +42.6%, 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

The average glutamic acid import price stood at $X per ton in 2022, with a decrease of -5.2% against the previous year. Overall, the import price continues to indicate a slight slump. The growth pace was the most rapid in 2020 an increase of 158% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for glutamic acid and its salts in the world?

The countries with the highest volumes of in 2021 were Japan, Myanmar and Nigeria, with a combined 28% share of global consumption. These countries were followed by Indonesia, Taiwan Chinese), China, Brazil, the Philippines, South Korea, India, Malaysia, Vietnam and Mexico, which together accounted for a further 44%.

What are the largest producers of glutamic acid and its salts in the world?

China remains the largest glutamic acid producing country worldwide, comprising approx. 67% of total volume. Moreover, glutamic acid production in China exceeded the figures recorded by the second-largest producer, Brazil, fivefold. Indonesia ranked third in terms of total production with a 12% share.

What are the leading suppliers of glutamic acid and its salts to Iraq?

In value terms, Turkey constituted the largest supplier of glutamic acid to Iraq, comprising 98% of total imports. The second position in the ranking was occupied by the United Arab Emirates, with a 2.3% share of total imports.

What are the leading importers of glutamic acid and its salts from Iraq?

In value terms, Turkey $316) remains the key foreign market for glutamic acid exports from Iraq.

What is the average export price for glutamic acid and its salts in Iraq?

The average glutamic acid export price stood at $1,264 per ton in 2021, therefore, remained relatively stable against the previous year.

What is the average import price for glutamic acid and its salts in Iraq?

In 2021, the average glutamic acid import price amounted to $1,615 per ton, with a decrease of -2% against the previous year.

This report provides an in-depth analysis of the glutamic acid market in Iraq. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 21102020 - Glutamic acid and its salts

Country coverage:

Iraq

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iraq
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023