China: Wool Grease Market Overview 2021

Wool Grease Market Size in China

The Chinese wool grease market dropped rapidly to $X in 2020, reducing by -X% against the previous year. Overall, consumption faced a deep downturn. The most prominent rate of growth was recorded in 2016 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Wool Grease Production in China

In value terms, wool grease production stood at $X in 2020 estimated in export prices. Over the period under review, production showed a slight curtailment. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2008; however, from 2009 to 2020, production remained at a lower figure.

Wool Grease Exports

Exports from China

In 2020, wool grease exports from China rose remarkably to X tonnes, with an increase of X% compared with the previous year's figure. in general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2009 when exports increased by X% y-o-y. Over the period under review, exports hit record highs at X tonnes in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, wool grease exports expanded sharply to $X in 2020. Overall, exports posted buoyant growth. The pace of growth was the most pronounced in 2009 with an increase of X% year-to-year. Exports peaked at $X in 2012; however, from 2013 to 2020, exports stood at a somewhat lower figure.

Exports by Country

The UK (X tonnes), Japan (X tonnes) and Belgium (X tonnes) were the main destinations of wool grease exports from China, with a combined X% share of total exports. Germany, the U.S. and India lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in Germany, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wool grease exported from China were the UK ($X), Japan ($X) and Germany ($X), together accounting for X% of total exports.

Among the main countries of destination, Germany recorded the highest rates of growth with regard to 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 wool grease export price stood at $X per tonne in 2020, growing by X% against the previous year. Overall, the export price, however, continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2012 an increase of X% against the previous year. Over the period under review, average export prices reached the peak figure at $X per tonne in 2007; however, from 2008 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. in 2020, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to India ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced a decline.

Wool Grease Imports

Imports into China

In 2020, after three years of growth, there was significant decline in overseas purchases of wool grease and fatty substances, when their volume decreased by -X% to X tonnes. in general, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2013 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2019, and then contracted significantly in the following year.

In value terms, wool grease imports declined remarkably to $X in 2020. Over the period under review, imports, however, enjoyed a noticeable expansion. The growth pace was the most rapid in 2013 when imports increased by X% y-o-y. As a result, imports reached the peak of $X. from 2014 to 2020, the growth imports remained at a lower figure.

Imports by Country

Uruguay (X tonnes), Australia (X tonnes) and Singapore (X tonnes) were the main suppliers of wool grease imports to China, with a combined X% share of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia, while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of wool grease to China, comprising X% of total imports. The second position in the ranking was occupied by Uruguay ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Australia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (X% per year) and Japan (+X% per year).

Import Prices by Country

The average wool grease import price stood at $X per tonne in 2020, surging by X% against the previous year. in general, the import price, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2011 an increase of X% year-to-year. Over the period under review, average import prices reached the peak figure at $X per tonne in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per tonne), while the price for Uruguay ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Japan, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform