Asia-Pacific: Glutamic Acid Market 2024

Glutamic Acid Market Size in Asia-Pacific

In 2022, the Asia-Pacific glutamic acid market increased by X% to $X, rising for the second year in a row after four years of decline. In general, consumption continues to indicate a mild reduction. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Glutamic Acid Production in Asia-Pacific

In value terms, glutamic acid production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced contraction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Glutamic Acid Exports

Exports in Asia-Pacific

In 2022, exports of glutamic acid and its salts in Asia-Pacific surged to X tons, jumping by X% against the previous year's figure. Total exports indicated a resilient expansion 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, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, glutamic acid exports skyrocketed to $X in 2022. Total exports indicated a buoyant 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, exports increased by X% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. Indonesia (X tons) held the second position in the ranking, followed by Thailand (X tons) and Vietnam (X tons). All these countries together held approx. X% share of total exports. Malaysia (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to glutamic acid exports from China stood at X%. At the same time, Malaysia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Indonesia (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Vietnam and Indonesia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glutamic acid supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat 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 China ($X per ton) and Vietnam ($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 Asia-Pacific

In 2022, glutamic acid imports in Asia-Pacific stood at X tons, picking up by X% on 2021 figures. Total imports indicated a buoyant increase 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 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, glutamic acid imports soared to $X in 2022. Total imports indicated a prominent 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 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the ten major importers of glutamic acid and its salts, namely Japan, Thailand, Indonesia, Vietnam, Malaysia, the Philippines, South Korea, India, Taiwan (Chinese) and Myanmar, represented more than two-thirds of total import. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

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

In value terms, Japan ($X), Thailand ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Indonesia, Malaysia, the Philippines, India, South Korea, Taiwan (Chinese), Myanmar and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, continues to indicate 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.

Prices varied noticeably by country of destination: 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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