MENA: Wool Grease Market 2024

Wool Grease Market Size in MENA

The MENA's wool grease market reduced to $X in 2022, standing approx. at the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Wool Grease Production in MENA

In value terms, wool grease production declined dramatically to $X in 2022 estimated in export price. Overall, production recorded buoyant growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Wool Grease Exports

Exports in MENA

In 2022, overseas shipments of wool grease and fatty substances were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, wool grease exports soared to $X in 2022. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Egypt (X tons) was the main exporter of wool grease and fatty substances, constituting X% of total exports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (X%) and Israel (X%). Kuwait (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Kuwait (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) remains the largest wool grease supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Egypt stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Israel (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price showed a pronounced setback. The pace of growth was the most pronounced in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced more modest paces of growth.

Wool Grease Imports

Imports in MENA

Wool grease imports rose significantly to X tons in 2022, with an increase of X% against 2021 figures. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, wool grease imports rose notably to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X tons) and Iran (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Morocco (X tons), Israel (X tons) and the United Arab Emirates (X tons), together creating a X% share of total imports. Egypt (X tons) and Algeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wool grease importing markets in MENA were Turkey ($X), Iran ($X) and Morocco ($X), together accounting for X% of total imports. Israel, the United Arab Emirates, Egypt and Algeria lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, almost unchanged from the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the United Arab Emirates ($X per ton) and Morocco ($X per ton), while Turkey ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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