Saudi Arabia: Greasy Wool Market Overview 2021

Greasy Wool Market Size in Saudi Arabia

In 2019, the Saudi greasy wool market increased by X% to $X for the first time since 2015, thus ending a three-year declining trend. In general, consumption, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2012 when the market value increased by X% y-o-y. Over the period under review, the market hit record highs at $X in 2007; however, from 2008 to 2019, consumption remained at a lower figure.

Greasy Wool Exports

Exports from Saudi Arabia

After two years of growth, overseas shipments of greasy wool decreased by -X% to X kg in 2019. Over the period under review, exports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at X tonnes in 2008; however, from 2009 to 2019, exports stood at a somewhat lower figure.

In value terms, greasy wool exports contracted sharply to $X in 2019. In general, exports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when exports increased by X% year-to-year. Exports peaked at $X in 2008; however, from 2009 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tonnes) was the main destination for greasy wool exports from Saudi Arabia, with a approx. X% share of total exports.

From 2007 to 2018, the average annual rate of growth in terms of volume to Bahrain was relatively modest.

From 2007 to 2018, the average annual rate of growth in terms of value to Bahrain was relatively modest.

Export Prices by Country

In 2018, the average greasy wool export price amounted to $X per tonne, waning by -X% against the previous year. Overall, the export price showed a deep contraction. The growth pace was the most rapid in 2011 when the average export price increased by X% against the previous year. The export price peaked at $X per tonne in 2015; however, from 2016 to 2018, export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Bahrain.

From 2007 to 2018, the rate of growth in terms of prices for Bahrain amounted to X% per year.

Greasy Wool Imports

Imports into Saudi Arabia

In 2019, after three years of decline, there was significant growth in supplies from abroad of greasy wool, when their volume increased by X% to X tonnes. Over the period under review, imports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. Imports peaked at X tonnes in 2008; however, from 2009 to 2019, imports remained at a lower figure.

In value terms, greasy wool imports surged to $X in 2019. In general, imports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. Imports peaked at $X in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Australia (X tonnes) constituted the largest supplier of greasy wool to Saudi Arabia, accounting for a X% share of total imports. Moreover, greasy wool imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tonnes), twofold. The third position in this ranking was occupied by the Netherlands (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and the Netherlands (-X% per year).

In value terms, China ($X), Australia ($X) and the UK ($X) constituted the largest greasy wool suppliers to Saudi Arabia, with a combined X% share of total imports. These countries were followed by India, the Netherlands and Germany, which together accounted for a further X recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average greasy wool 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 perceptible downturn. The growth pace was the most rapid in 2012 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2007; however, from 2008 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the UK ($X per tonne), while the price for Australia ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

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

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The countries with the highest volumes of greasy wool consumption in 2019 were Australia (4.2K tonnes), Japan (3.4K tonnes) and Germany (3.2K tonnes), with a combined 40% share of global consumption. China, New Zealand, the U.S., Canada, the UK, the Netherlands, Brazil, France, Argentina and Uruguay lagged somewhat behind, together comprising a further 40%.

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

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The country with the largest volume of greasy wool production was China (14K tonnes), comprising approx. 50% of total volume. Moreover, greasy wool production in China exceeded the figures recorded by the second-largest producer, Australia (5.1K tonnes), threefold. The third position in this ranking was occupied by New Zealand (3.2K tonnes), with a 11% share.

What are the leading suppliers of greasy wool to Saudi Arabia?

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In value terms, China ($38K), Australia ($24K) and the UK ($18K) constituted the largest greasy wool suppliers to Saudi Arabia, with a combined 77% share of total imports. India, the Netherlands and Germany lagged somewhat behind, together accounting for a further 17%.

What is the average export price for greasy wool in Saudi Arabia?

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The average greasy wool export price stood at $2,996 per tonne in 2018, with a decrease of -21.7% against the previous year.

What is the average import price for greasy wool in Saudi Arabia?

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In 2019, the average greasy wool import price amounted to $8,788 per tonne, declining by -17.8% against the previous year.