Kuwait: Wool Grease Market Overview 2021

Wool Grease Market Size in Kuwait

The Kuwaiti wool grease market skyrocketed to $X in 2019, increasing by X% against the previous year. Overall, consumption enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2015 when the market value increased by X% y-o-y. As a result, consumption reached the peak level of $X. From 2016 to 2019, the growth of the market remained at a somewhat lower figure.

Wool Grease Production in Kuwait

In value terms, wool grease production fell to $X in 2019 estimated in export prices. Overall, production saw a perceptible decline. The pace of growth was the most pronounced in 2012 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2019, production remained at a lower figure.

The average yield of wool grease in Kuwait stood at X kg per head in 2019, almost unchanged from the previous year. Overall, the yield showed a relatively flat trend pattern.

In 2019, number of animals slaughtered for wool grease production in Kuwait stood at X head, remaining constant against the year before. Over the period under review, the number of producing animals showed a relatively flat trend pattern.

Wool Grease Exports

Exports from Kuwait

After three years of decline, overseas shipments of wool grease decreased by -X% to X tonnes in 2019. Over the period under review, exports, however, recorded a temperate expansion. The pace of growth was the most pronounced in 2012 with an increase of X% year-to-year. Exports peaked at X tonnes in 2013; however, from 2014 to 2019, exports stood at a somewhat lower figure.

In value terms, wool grease exports soared to $X in 2019. In general, exports, however, recorded a mild contraction. The growth pace was the most rapid in 2012 when exports increased by X% year-to-year. Exports peaked at $X in 2015; however, from 2016 to 2019, exports failed to regain the momentum.

Exports by Country

Saudi Arabia (X tonnes) was the main destination for wool grease exports from Kuwait, with a X% share of total exports. Moreover, wool grease exports to Saudi Arabia exceeded the volume sent to the second major destination, India (X tonnes), fivefold.

From 2007 to 2019, the average annual rate of growth in terms of volume to Saudi Arabia stood at +X%.

In value terms, India ($X) and Saudi Arabia ($X) constituted the largest markets for wool grease exported from Kuwait worldwide.

Saudi Arabia recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average wool grease export price stood at $X per tonne in 2019, growing by X% against the previous year. Over the period under review, the export price, however, saw a deep reduction. The export price peaked at $X per tonne in 2011; however, from 2012 to 2019, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was India ($X per tonne), while the average price for exports to Saudi Arabia totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to India.

Wool Grease Imports

Imports into Kuwait

In 2019, purchases abroad of wool grease increased by X% to X tonnes, rising for the second consecutive year after two years of decline. Over the period under review, imports saw measured growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% y-o-y. Imports peaked in 2019 and are expected to retain growth in the near future.

In value terms, wool grease imports soared to $X in 2019. In general, imports continue to indicate a mild increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% year-to-year. Imports peaked in 2019 and are likely to see gradual growth in years to come.

Imports by Country

In 2019, Saudi Arabia (X tonnes) was the main supplier of wool grease to Kuwait, with a approx. X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of volume from Saudi Arabia stood at +X%.

In value terms, Saudi Arabia ($X) constituted the largest supplier of wool grease to Kuwait.

From 2007 to 2019, the average annual rate of growth in terms of value from Saudi Arabia stood at +X%.

Import Prices by Country

The average wool grease import price stood at $X per tonne in 2019, waning by -X% against the previous year. Over the period under review, the import price saw a pronounced decline. The most prominent rate of growth was recorded in 2014 an increase of X% y-o-y. As a result, import price reached the peak level of $X per tonne. From 2015 to 2019, the growth in terms of the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Saudi Arabia.

From 2007 to 2019, the rate of growth in terms of prices for Saudi Arabia amounted to -X% per year.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for wool grease in the world?

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The countries with the highest volumes of wool grease consumption in 2019 were Australia (803K tonnes), China (688K tonnes) and South Africa (208K tonnes), together accounting for 58% of global consumption.

What are the largest producers of wool grease in the world?

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Australia (1.2M tonnes) constituted the country with the largest volume of wool grease production, comprising approx. 36% of total volume. Moreover, wool grease production in Australia exceeded the figures recorded by the second-largest producer, South Africa (572K tonnes), twofold. The third position in this ranking was occupied by China (422K tonnes), with a 12% share.

What are the leading suppliers of wool grease to Kuwait?

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In value terms, Saudi Arabia ($907K) constituted the largest supplier of wool grease to Kuwait.

What are the leading importers of wool grease from Kuwait?

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In value terms, the largest markets for wool grease exported from Kuwait were India ($224K) and Saudi Arabia ($171K).

What is the average export price for wool grease in Kuwait?

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The average wool grease export price stood at $505 per tonne in 2019, jumping by 53% against the previous year.

What is the average import price for wool grease in Kuwait?

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In 2019, the average wool grease import price amounted to $870 per tonne, dropping by -8.6% against the previous year.