Nigeria - Glutamic Acid And Its Salts - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingGlutamic Acid Price in Nigeria - 2022
Contents:
- Glutamic Acid Price in Nigeria (CIF) - 2022
- Glutamic Acid Price in Nigeria (FOB) - 2022
- Glutamic Acid Imports in Nigeria
- Glutamic Acid Exports in Nigeria
Glutamic Acid Price in Nigeria (CIF) - 2022
In June 2022, the average glutamic acid import price amounted to $1,699 per ton, with an increase of 5.1% against the previous month. Over the last twelve months, it increased at an average monthly rate of +3.2%. The most prominent rate of growth was recorded in November 2021 an increase of 25% month-to-month. Over the period under review, average import prices reached the peak figure at $1,704 per ton in April 2022; afterwards, it flattened through to June 2022.
Prices varied noticeably by the country of origin: the country with the highest price was Vietnam ($3,241 per ton), while the price for Hong Kong SAR ($845 per ton) was amongst the lowest.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Glutamic Acid Price in Nigeria (FOB) - 2022
In 2022, the average glutamic acid export price amounted to $997 per ton, rising by 10% against the previous year. Overall, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 61% against the previous year. Over the period under review, the average export prices reached the maximum at $2,664 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
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 Gambia ($1,722 per ton), while the average price for exports to Ghana ($109 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 Gambia (-2.0%), while the prices for the other major destinations experienced a decline.
Glutamic Acid Imports in Nigeria
In 2022, imports of glutamic acid and its salts into Nigeria surged to 129K tons, with an increase of 37% on the previous year. Overall, imports showed buoyant growth. The pace of growth was the most pronounced in 2020 when imports increased by 90% against the previous year. As a result, imports attained the peak of 180K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, glutamic acid imports surged to $203M in 2022. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 110% against the previous year. As a result, imports attained the peak of $205M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Glutamic Acid in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 48.2 | 112 | 62.8 | 109 | 31.3% |
| Brazil | 21.2 | 35.9 | 14.8 | 39.3 | 22.8% |
| Australia | 11.6 | 16.7 | 16.2 | 22.5 | 24.7% |
| Taiwan (Chinese) | 7.4 | 26.0 | 10.8 | 15.0 | 26.6% |
| Vietnam | 2.5 | 5.3 | 6.2 | 9.7 | 57.1% |
| Others | 6.9 | 8.9 | 11.3 | 8.0 | 5.1% |
| Total | 97.7 | 205 | 122 | 203 | 27.6% |
Top Suppliers of Glutamic Acid to Nigeria in 2022:
- China (75.4K tons)
- Brazil (21.8K tons)
- Australia (12.8K tons)
- Taiwan (Chinese) (8.3K tons)
- Vietnam (5.4K tons)
Glutamic Acid Exports in Nigeria
In 2022, the amount of glutamic acid and its salts exported from Nigeria soared to 18 tons, picking up by 17% on the previous year. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 123% against the previous year. As a result, the exports attained the peak of 21 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, glutamic acid exports soared to $18K in 2022. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +11.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -18.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 69% against the previous year. As a result, the exports attained the peak of $23K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Glutamic Acid in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Gambia | 7.9 | 13.1 | 8.1 | 10.1 | 8.5% |
| Sierra Leone | 2.0 | 3.6 | 2.4 | 3.3 | 18.2% |
| Burkina Faso | 1.4 | 2.6 | 1.8 | 2.5 | 21.3% |
| Lebanon | 1.0 | 1.8 | 1.2 | 1.7 | 19.3% |
| Cameroon | 0.7 | 1.0 | 0.6 | 0.6 | -5.0% |
| China | 0.2 | 0.2 | 0.1 | 0.1 | -20.6% |
| Benin | 0.1 | 0.1 | N/A | N/A | 0.0% |
| Others | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Total | 13.3 | 22.6 | 14.2 | 18.4 | 11.4% |
Top Export Markets for Glutamic Acid from Nigeria in 2022:
- Gambia (5.8 tons)
- Lebanon (5.5 tons)
- Sierra Leone (3.7 tons)
- Burkina Faso (1.7 tons)
- Cameroon (0.6 tons)
- China (0.5 tons)
- Benin (0.2 tons)
This report provides an in-depth analysis of the glutamic acid market in Nigeria. 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:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- 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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- 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- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- 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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
458
This report provides an in-depth analysis of the glutamic acid market in Nigeria.
403
This report provides an in-depth analysis of the diethanolamine market in Nigeria.
402
This report provides an in-depth analysis of the triethanolamine market in Nigeria.
447
This report provides an in-depth analysis of the monoethanolamine market in Nigeria.
397
This report provides an in-depth analysis of the lysine market in Nigeria.
410
This report provides an in-depth analysis of the oxygen-function amino-compound market in Nigeria.
1061
This report provides an in-depth analysis of the fluorspar market in Nigeria.
874
This report provides an in-depth analysis of the global glutamic acid market.
776
This report provides an in-depth analysis of the global diethanolamine market.
591
This report provides an in-depth analysis of the global triethanolamine market.
1101
The global decarbonisation trend, the increasing number of CCS projects (carbon capture and storage facility) being implemented and the widespread use of monoethanolamine (MEA) as an absorbing agent to capture СО2 emissions could provide significant impetus to the further development of the MEA market. MEA is currently one of the most widely used absorbing agents in the oil and gas sectors for the purification of industrial waste.
276
Explore the top import markets for Oxygen-Function Amino-Compound and their key statistics. Learn about the demand, trends, and market dynamics in these countries.
1090
In 2016, the amount of oxygen-function amino-compound imported worldwide amounted to X tons, rising by X% against the previous year level. The total import volume increased at an average annual r...
1247
In 2016, the amount of oxygen-function amino-compound imported worldwide amounted to X tons, rising by X% against the previous year level. The total import volume increased at an average annual r...
488
Global trade in fluorspar peaked at $822M in 2021. China remains the leading fluorspar supplier worldwide.
1101
The global decarbonisation trend, the increasing number of CCS projects (carbon capture and storage facility) being implemented and the widespread use of monoethanolamine (MEA) as an absorbing agent to capture СО2 emissions could provide significant impetus to the further development of the MEA market. MEA is currently one of the most widely used absorbing agents in the oil and gas sectors for the purification of industrial waste.
276
Explore the top import markets for Oxygen-Function Amino-Compound and their key statistics. Learn about the demand, trends, and market dynamics in these countries.
1090
In 2016, the amount of oxygen-function amino-compound imported worldwide amounted to X tons, rising by X% against the previous year level. The total import volume increased at an average annual r...
1247
In 2016, the amount of oxygen-function amino-compound imported worldwide amounted to X tons, rising by X% against the previous year level. The total import volume increased at an average annual r...
