
Asia - Wool Grease and Fatty Substances - Market Analysis, Forecast, Size, Trends and Insights
Asia: Wool Grease Market 2023
Wool Grease Market Size in Asia
The Asian wool grease market expanded significantly to $X in 2021, with an increase of 12% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.
Wool Grease Production in Asia
In value terms, wool grease production totaled $X in 2021 estimated in export price. Overall, production, however, saw a pronounced downturn. The growth pace was the most rapid in 2016 when the production volume increased by 38% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.
Wool Grease Exports
Exports in Asia
In 2021, shipments abroad of wool grease and fatty substances increased by 11% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a slight decrease. The pace of growth was the most pronounced in 2017 when exports increased by 23%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.
In value terms, wool grease exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a perceptible decline. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
In 2021, China (X tons) was the key exporter of wool grease and fatty substances, constituting 80% of total exports. Japan (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by India (6%).
China experienced a relatively flat trend pattern with regard to volume of exports of wool grease and fatty substances. At the same time, India (+3.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +3.2% from 2012-2021. Japan experienced a relatively flat trend pattern. From 2012 to 2021, the share of China and India increased by +6.3 and +2.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($X) remains the largest wool grease supplier in Asia, comprising 70% of total exports. The second position in the ranking was taken by Japan ($X), with a 22% share of total exports.
From 2012 to 2021, the average annual growth rate of value in China stood at -2.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-2.1% per year) and India (+5.1% per year).
Export Prices by Country
The export price in Asia stood at $X per ton in 2021, picking up by 34% against the previous year. Overall, the export price, however, continues to indicate a slight curtailment. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.8%), while the other leaders experienced a decline in the export price figures.
Wool Grease Imports
Imports in Asia
In 2021, after two years of decline, there was significant growth in purchases abroad of wool grease and fatty substances, when their volume increased by 24% to X tons. Over the period under review, imports, however, showed a slight downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 35% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.
In value terms, wool grease imports surged to $X in 2021. In general, imports, however, saw a pronounced setback. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.
Imports by Country
Japan was the largest importing country with an import of about X tons, which amounted to 57% of total imports. It was distantly followed by India (X tons), making up a 26% share of total imports. The following importers - Thailand (X tons), China (X tons), South Korea (X tons), Turkey (X tons) and Pakistan (X tons) - each finished at a 10% share of total imports.
Japan experienced a relatively flat trend pattern with regard to volume of imports of wool grease and fatty substances. At the same time, India (+20.5%), Pakistan (+10.1%) and China (+9.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia, with a CAGR of +20.5% from 2012-2021. Turkey and South Korea experienced a relatively flat trend pattern. By contrast, Thailand (-3.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India and China increased by +21 and +1.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Japan ($X) constitutes the largest market for imported wool grease and fatty substances in Asia, comprising 57% of total imports. The second position in the ranking was held by India ($X), with a 19% share of total imports. It was followed by Thailand, with a 4.1% share.
In Japan, wool grease imports contracted by an average annual rate of -2.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+12.3% per year) and Thailand (-4.4% per year).
Import Prices by Country
In 2021, the import price in Asia amounted to $X per ton, picking up by 19% against the previous year. Overall, the import price, however, showed a pronounced descent. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.
Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per ton), while China ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.6%), while the other leaders experienced a decline in the import price figures.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the wool grease market in Asia. 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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