MENA: Glutamic Acid Market 2024

Glutamic Acid Market Size in MENA

The MENA's glutamic acid market was estimated at $X in 2022, growing by 12% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +91.8% against 2015 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Glutamic Acid Production in MENA

In value terms, glutamic acid production amounted to $X in 2022 estimated in export price. Overall, production saw a prominent increase. The growth pace was the most rapid in 2015 with an increase of 1,351,900% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Glutamic Acid Exports

Exports in MENA

In 2022, shipments abroad of glutamic acid and its salts increased by 24% to X tons, rising for the third consecutive year after three years of decline. Overall, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of 115% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, glutamic acid exports skyrocketed to $X in 2022. In general, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 152% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Turkey (X tons) represented the key exporter of glutamic acid and its salts, mixing up 57% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Egypt (X tons), together committing a 37% share of total exports. Israel (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +14.0% from 2012 to 2022. At the same time, Israel (+20.7%), Egypt (+19.6%) and the United Arab Emirates (+11.6%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +20.7% from 2012-2022. While the share of Turkey (+18 p.p.), Egypt (+7.5 p.p.), the United Arab Emirates (+3.8 p.p.) and Israel (+2.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest glutamic acid supplier in MENA, comprising 66% of total exports. The second position in the ranking was taken by Egypt ($X), with a 14% share of total exports. It was followed by the United Arab Emirates, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +14.0%. In the other countries, the average annual rates were as follows: Egypt (+19.3% per year) and the United Arab Emirates (+7.0% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with an increase of 30% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 50%. The level of export 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-0.0%), while the other leaders experienced a decline in the export price figures.

Glutamic Acid Imports

Imports in MENA

After two years of decline, overseas purchases of glutamic acid and its salts increased by 11% to X tons in 2022. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 29% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, glutamic acid imports expanded remarkably to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +95.3% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of 24%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Egypt (X tons), Turkey (X tons), Saudi Arabia (X tons), Iran (X tons) and the United Arab Emirates (X tons) represented roughly 87% of total imports in 2022. It was distantly followed by Israel (X tons), constituting a 4.7% share of total imports. Morocco (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +31.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Saudi Arabia ($X) and Turkey ($X) were the countries with the highest levels of imports in 2022, together accounting for 66% of total imports. The United Arab Emirates, Iran, Israel and Morocco lagged somewhat behind, together comprising a further 29%.

Among the main importing countries, Iran, with a CAGR of +26.3%, saw the highest rates of growth with regard to 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

The import price in MENA stood at $X per ton in 2022, picking up by 2.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 27%. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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 Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform