U.S.: Greasy Wool Market Overview 2021

Greasy Wool Market Size in the U.S.

After two years of growth, the U.S. greasy wool market decreased by -X% to $X in 2019. In general, consumption continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2010 when the market value increased by X% year-to-year. As a result, consumption reached the peak level of $X. From 2011 to 2019, the growth of the market remained at a lower figure.

Greasy Wool Exports

Exports from the U.S.

Greasy wool exports from the U.S. declined to X tonnes in 2019, shrinking by -X% on 2018 figures. Overall, exports, however, saw measured growth. The most prominent rate of growth was recorded 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, greasy wool exports stood at $X in 2019. In general, total exports indicated a measured increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2012 when exports increased by X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2013; however, from 2014 to 2019, exports remained at a lower figure.

Exports by Country

Canada (X tonnes) was the main destination for greasy wool exports from the U.S., accounting for a X% share of total exports. Moreover, greasy wool exports to Canada exceeded the volume sent to the second major destination, the UK (X tonnes), fourfold. The third position in this ranking was occupied by Hong Kong SAR (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Canada stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+X% per year) and Hong Kong SAR (-X% per year).

In value terms, Canada ($X), the UK ($X) and China ($X) constituted the largest markets for greasy wool exported from the U.S. worldwide, with a combined X% share of total exports.

Among the main countries of destination, China saw 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

In 2019, the average greasy wool export price amounted to $X per tonne, surging by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average export prices hit record highs at $X per tonne in 2010; however, from 2011 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was China ($X per tonne), while the average price for exports to Canada ($X per tonne) was amongst the lowest.

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

Greasy Wool Imports

Imports into the U.S.

In 2019, purchases abroad of greasy wool decreased by -X% to X tonnes for the first time since 2015, thus ending a three-year rising trend. In general, imports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. As a result, imports attained the peak of X tonnes. From 2011 to 2019, the growth imports failed to regain the momentum.

In value terms, greasy wool imports rose notably to $X in 2019. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2019, imports failed to regain the momentum.

Imports by Country

China (X tonnes), Mexico (X tonnes) and the UK (X tonnes) were the main suppliers of greasy wool imports to the U.S., together accounting for X% of total imports.

From 2007 to 2019, the biggest increases were in Mexico, while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest greasy wool suppliers to the U.S. were Japan ($X), the UK ($X) and China ($X), with a combined X% share of total imports.

In terms of the main suppliers, Japan recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average greasy wool import price amounted to $X per tonne, rising by X% against the previous year. Overall, the import price showed a notable increase. The most prominent rate of growth was recorded in 2012 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per tonne in 2013; however, from 2014 to 2019, import prices remained at a lower figure.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Brazil, 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), together comprising 40% 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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China (14K tonnes) remains the largest greasy wool producing country worldwide, 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 the U.S.?

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In value terms, the largest greasy wool suppliers to the U.S. were Japan ($7.1M), the UK ($5.7M) and China ($4.2M), with a combined 70% share of total imports.

What are the leading importers of greasy wool from the U.S.?

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In value terms, Canada ($2.7M), the UK ($1.4M) and China ($1.4M) appeared to be the largest markets for greasy wool exported from the U.S. worldwide, together accounting for 62% of total exports.

What is the average export price for greasy wool in the U.S.?

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The average greasy wool export price stood at $3,751 per tonne in 2019, picking up by 12% against the previous year.

What is the average import price for greasy wool in the U.S.?

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In 2019, the average greasy wool import price amounted to $6,949 per tonne, increasing by 24% against the previous year.