ASEAN: Glutamic Acid Market 2024

Glutamic Acid Market Size in ASEAN

The ASEAN glutamic acid market surged to $X in 2022, jumping by X% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2012 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Glutamic Acid Production in ASEAN

In value terms, glutamic acid production shrank modestly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Glutamic Acid Exports

Exports in ASEAN

In 2022, shipments abroad of glutamic acid and its salts increased by X% to X tons, rising for the second year in a row after four years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, glutamic acid exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons), Thailand (X tons) and Vietnam (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Malaysia (X tons), comprising an X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments 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 exports in 2022, with a combined X% share of total exports. Malaysia lagged somewhat behind, accounting for a further X%.

In terms of the main exporting countries, Malaysia, with a CAGR of X%, recorded 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 trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price saw 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 noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Malaysia ($X per ton) and Thailand ($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 (X%), while the other leaders experienced a decline in the export price figures.

Glutamic Acid Imports

Imports in ASEAN

In 2022, approx. X tons of glutamic acid and its salts were imported in ASEAN; picking up by X% compared with 2021. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2012 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, glutamic acid imports surged to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), Indonesia (X tons), Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Myanmar (X tons), creating a X% share of total imports. Lao People's Democratic Republic (X tons) held a relatively small share of total imports.

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

In value terms, Thailand ($X), Vietnam ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 ASEAN amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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