Malaysia: Glutamic Acid Market 2024

Glutamic Acid Market Size in Malaysia

In 2022, after four years of growth, there was significant decline in the Malaysian glutamic acid market, when its value decreased by -13.2% to $X. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +72.7% against 2015 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Glutamic Acid Exports

Exports from Malaysia

In 2022, exports of glutamic acid and its salts from Malaysia shrank rapidly to X tons, dropping by -26% on 2021. Overall, exports, however, showed temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of 108% against the previous year. As a result, the exports attained the peak of X tons, and then reduced rapidly in the following year.

In value terms, glutamic acid exports declined notably to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 126% against the previous year. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for glutamic acid exports from Malaysia, with a 51% share of total exports. Moreover, glutamic acid exports to the United States exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +62.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-6.1% per year) and the United Arab Emirates (-4.4% per year).

In value terms, the United States ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) constituted the largest markets for glutamic acid exported from Malaysia worldwide, together accounting for 79% of total exports. Poland, Singapore, Qatar, Brunei Darussalam, Mauritius and Sri Lanka lagged somewhat behind, together comprising a further 15%.

In terms of the main countries of destination, Poland, with a CAGR of +131.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average glutamic acid export price amounted to $X per ton, dropping by -2.6% against the previous year. Overall, the export price showed a perceptible contraction. The most prominent rate of growth was recorded in 2021 an increase of 8.8% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+52.3%), while the prices for the other major destinations experienced more modest paces of growth.

Glutamic Acid Imports

Imports into Malaysia

After four years of growth, supplies from abroad of glutamic acid and its salts decreased by -13.1% to X tons in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.1% against 2014 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, glutamic acid imports reduced remarkably to $X in 2022. Overall, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.9% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 50%. As a result, imports reached the peak of $X, and then contracted markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glutamic acid to Malaysia, with a 56% share of total imports. Moreover, glutamic acid imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. The third position in this ranking was taken by Brazil (X tons), with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-3.0% per year) and Brazil (+6.5% per year).

In value terms, the largest glutamic acid suppliers to Malaysia were China ($X), Indonesia ($X) and Brazil ($X), with a combined 99% share of total imports.

China, with a CAGR of +25.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, reducing by -4.2% against the previous year. In general, the import price showed a noticeable descent. The pace of growth was the most pronounced in 2021 an increase of 11% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($X per ton) and Vietnam ($X per ton), while the price for China ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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