EU: Wool Grease Market 2023

Wool Grease Market Size in the EU

The EU wool grease market fell to $X in 2021, which is down by -10.7% against the previous year. Over the period under review, consumption showed a noticeable contraction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Wool Grease Production in the EU

In value terms, wool grease production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 98% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Wool Grease Exports

Exports in the EU

In 2021, shipments abroad of wool grease and fatty substances was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, wool grease exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons) and Belgium (X tons) represented roughly 61% of total exports in 2021. Germany (X tons) ranks next in terms of the total exports with a 19% share, followed by Italy (8.2%) and the Netherlands (5.6%). Bulgaria (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bulgaria (with a CAGR of +88.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest wool grease supplying countries in the European Union were Belgium ($X), the Netherlands ($X) and Germany ($X), together accounting for 78% of total exports. These countries were followed by the Czech Republic, Italy and Bulgaria, which together accounted for a further 20%.

Bulgaria, with a CAGR of +64.4%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, falling by -2.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2018 an increase of 18% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+15.5%), while the other leaders experienced more modest paces of growth.

Wool Grease Imports

Imports in the EU

In 2021, purchases abroad of wool grease and fatty substances decreased by -5.9% to X tons, falling for the third year in a row after two years of growth. Overall, imports showed a pronounced decline. The pace of growth was the most pronounced in 2018 with an increase of 15% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, wool grease imports soared to $X in 2021. In general, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 29% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Germany represented the main importer of wool grease and fatty substances in the European Union, with the volume of imports reaching X tons, which was approx. 53% of total imports in 2021. Belgium (X tons) ranks second in terms of the total imports with a 14% share, followed by the Netherlands (7.9%), Italy (7.7%) and France (5.1%). Spain (X tons) and Poland (X tons) took a relatively small share of total imports.

Germany was also the fastest-growing in terms of the wool grease and fatty substances imports, with a CAGR of +3.4% from 2012 to 2021. Poland experienced a relatively flat trend pattern. Italy (-4.7%), France (-7.2%), Belgium (-7.9%), Spain (-8.4%) and the Netherlands (-9.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Germany increased by +22 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported wool grease and fatty substances in the European Union, comprising 45% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 12% share of total imports. It was followed by Belgium, with an 11% share.

In Germany, wool grease imports expanded at an average annual rate of +1.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (-6.9% per year) and Belgium (-8.2% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, surging by 24% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Poland ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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