China: Glutamic Acid Market 2024

Glutamic Acid Market Size in China

The Chinese glutamic acid market dropped sharply to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption recorded a dramatic setback. Glutamic acid consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Glutamic Acid Production in China

In value terms, glutamic acid production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced curtailment. The growth pace was the most rapid in 2016 with an increase of X%. As a result, production reached 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 from China

In 2022, approx. X tons of glutamic acid and its salts were exported from China; with an increase of X% compared with the year before. In general, exports recorded buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, glutamic acid exports skyrocketed to $X in 2022. Overall, exports showed a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Thailand (X tons), Vietnam (X tons) and Indonesia (X tons) were the main destinations of glutamic acid exports from China, with a combined X% share of total exports. Nigeria, Myanmar, India, Malaysia, Taiwan (Chinese), the Philippines, Japan, South Korea, South Africa and Democratic People's Republic of Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, Thailand ($X), Vietnam ($X) and Indonesia ($X) constituted the largest markets for glutamic acid exported from China worldwide, together accounting for X% of total exports. Nigeria, Myanmar, India, Malaysia, Taiwan (Chinese), the Philippines, Japan, South Korea, South Africa and Democratic People's Republic of Korea lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glutamic acid export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Nigeria ($X per ton) and South Africa ($X per ton), while the average price for exports to Democratic People's Republic of Korea ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.

Glutamic Acid Imports

Imports into China

Glutamic acid imports into China surged to X tons in 2022, increasing by X% compared with 2021. In general, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glutamic acid imports skyrocketed to $X in 2022. Overall, imports saw a tangible increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest glutamic acid supplier to China, with a X% share of total imports. Moreover, glutamic acid imports from Vietnam exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), eightfold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Japan (X% per year).

In value terms, Vietnam ($X), Japan ($X) and France ($X) were the largest glutamic acid suppliers to China, together comprising X% of total imports.

In terms of the main suppliers, France, with a CAGR of X%, 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 average glutamic acid import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price continues to indicate a abrupt decline. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($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 prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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