South-Eastern Asia: Glutamic Acid Market 2024

Glutamic Acid Market Size in South-Eastern Asia

For the fourth consecutive year, the Southeast Asian glutamic acid market recorded growth in sales value, which increased by 45% to $X in 2022. In general, consumption continues to indicate a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Glutamic Acid Production in South-Eastern Asia

In value terms, glutamic acid production fell to $X in 2022 estimated in export price. Over the period under review, production saw a perceptible curtailment. The growth pace was the most rapid in 2019 with an increase of 25%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Glutamic Acid Exports

Exports in South-Eastern Asia

Glutamic acid exports rose to X tons in 2022, with an increase of 5% against the previous year. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 15%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, glutamic acid exports surged to $X in 2022. Overall, exports saw a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) and Thailand (X tons) were the main exporters of glutamic acid and its salts in 2022, amounting to approx. 43% and 33% of total exports, respectively. It was distantly followed by Vietnam (X tons), generating a 20% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +5.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest glutamic acid supplying countries in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Vietnam ($X), together accounting for 96% of total exports.

Among the main exporting countries, Thailand, with a CAGR of +4.0%, 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 a decline in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, increasing by 13% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Thailand ($X per ton) and Malaysia ($X per ton), while Vietnam ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.3%), while the other leaders experienced a decline in the export price figures.

Glutamic Acid Imports

Imports in South-Eastern Asia

In 2022, imports of glutamic acid and its salts in South-Eastern Asia soared to X tons, jumping by 16% on 2021 figures. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.4% 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 +104.6% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, glutamic acid imports soared to $X in 2022. Total imports indicated strong 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 +73.1% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) and Thailand (X tons) were the major importers of glutamic acid and its salts in South-Eastern Asia, together making up 51% of total imports. Vietnam (X tons) ranks next in terms of the total imports with a 14% share, followed by the Philippines (12%), Malaysia (9.8%) and Myanmar (6.5%). Lao People's Democratic Republic (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of +15.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined 63% share of total imports.

Indonesia, with a CAGR of +18.4%, 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, surging by 22% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Lao People's Democratic Republic ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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