Eastern Europe: Glutamic Acid Market 2024

Glutamic Acid Exports

Exports in Eastern Europe

In 2022, shipments abroad of glutamic acid and its salts decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, exports, however, recorded significant growth. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, glutamic acid exports surged to $X in 2022. In general, exports, however, posted significant growth. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Poland represented the major exporter of glutamic acid and its salts in Eastern Europe, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by the Czech Republic (X tons), Hungary (X tons) and Russia (X tons), together creating a X% share of total exports. Latvia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to glutamic acid exports from Poland stood at X%. At the same time, Hungary (X%), Latvia (X%), the Czech Republic (X%) and Russia (X%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the Czech Republic, Hungary and Latvia increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest glutamic acid supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total exports. It was followed by Hungary, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Poland stood at X%. In the other countries, the average annual rates were as follows: the Czech Republic (X% per year) and Hungary (X% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price recorded 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced mixed trends in the export price figures.

Glutamic Acid Imports

Imports in Eastern Europe

In 2022, after two years of growth, there was significant decline in purchases abroad of glutamic acid and its salts, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, glutamic acid imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Russia was the major importer of glutamic acid and its salts in Eastern Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Poland (X tons) took the second position in the ranking, distantly followed by Hungary (X tons), Slovakia (X tons), Ukraine (X tons) and Romania (X tons). All these countries together held approx. X% share of total imports. The Czech Republic (X tons) took a little share of total imports.

Russia was also the fastest-growing in terms of the glutamic acid and its salts imports, with a CAGR of X% from 2012 to 2022. At the same time, Ukraine (X%), Hungary (X%), Slovakia (X%) and Romania (X%) displayed positive paces of growth. Poland experienced a relatively flat trend pattern. By contrast, the Czech Republic (X%) illustrated a downward trend over the same period. Russia (X p.p.) significantly strengthened its position in terms of the total imports, while the Czech Republic and Poland 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, the largest glutamic acid importing markets in Eastern Europe were Russia ($X), Poland ($X) and Hungary ($X), with a combined X% share of total imports.

Hungary, with a CAGR of X%, saw 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

The import price in Eastern Europe stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Romania ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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