Report Update: Apr 1, 2024

Republic of Korea - Wool Grease And Fatty Substances - Market Analysis, Forecast, Size, Trends and Insights

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Wool Grease Price in South Korea - 2022

Wool Grease Price in South Korea (CIF) - 2022

The average wool grease import price stood at $20,283 per ton in December 2022, surging by 381% against the previous month. In general, the import price posted a remarkable increase. The import price peaked at $42,667 per ton in September 2022; however, from October 2022 to December 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In December 2022, the country with the highest price was Japan ($20,623 per ton), while the price for China amounted to $13,793 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by China (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Wool Grease Price in South Korea (FOB) - 2022

The average wool grease export price stood at $48,112 per ton in 2022, declining by -3.6% against the previous year. Over the period under review, the export price, however, showed a buoyant increase. The pace of growth was the most pronounced in 2013 an increase of 214%. Over the period under review, the average export prices reached the maximum at $94,096 per ton in 2020; however, from 2021 to 2022, the export prices remained at a 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 China ($75,318 per ton), while the average price for exports to Vietnam ($35,500 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 Vietnam (+15.4%).

Wool Grease Imports in South Korea

In 2022, wool grease imports into South Korea dropped rapidly to 108 tons, waning by -41.2% compared with 2021. Over the period under review, imports showed a sharp contraction. The most prominent rate of growth was recorded in 2021 with an increase of 54%.

In value terms, wool grease imports declined to $1.1M in 2022. Overall, imports showed a abrupt descent. The smallest decline of -1.5% was in 2021.

Import of Wool Grease in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	562	863	792	713	8.3%
China	124	205	359	281	31.3%
India	N/A	N/A	N/A	15.2	0%
Singapore	482	59.4	N/A	5.7	-77.2%
Others	112	117	73.9	39.1	-29.6%
Total	1,280	1,244	1,225	1,054	-6.3%

Top Suppliers of Wool Grease to South Korea in 2022:

Japan (70.7 tons)
China (26.1 tons)
India (7.6 tons)
Singapore (0.2 tons)

Wool Grease Exports in South Korea

Wool grease exports from South Korea shrank dramatically to 457 kg in 2022, which is down by -56% on the previous year's figure. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 1,896% against the previous year. As a result, the exports attained the peak of 1 tons, and then fell significantly in the following year.

In value terms, wool grease exports reduced sharply to $22K in 2022. Overall, exports showed a sharp setback. The most prominent rate of growth was recorded in 2021 with an increase of 959%.

Export of Wool Grease in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Vietnam	16.4	N/A	10.4	12.1	-9.6%
China	38.0	4.8	41.5	8.1	-40.3%
Russia	N/A	N/A	N/A	0.4	0%
Sudan	1.1	N/A	N/A	N/A	0%
Others	0.7	0.1	N/A	1.5	28.9%
Total	56.2	4.9	51.8	22.0	-26.8%

Top Export Markets for Wool Grease from South Korea in 2022:

Vietnam (340.0 kg)
China (107.0 kg)
Russia (8.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the wool grease market in Republic of Korea. 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:

FCL 994 - Wool Grease and Lanolin

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. 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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. 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
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. 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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023