U.S.: Wool Grease Market 2024

Wool Grease Market Size in the U.S.

In 2022, the U.S. wool grease market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted a measured expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wool Grease Exports

Exports from the U.S.

In 2022, overseas shipments of wool grease and fatty substances decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wool grease exports expanded modestly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for wool grease exports from the United States, with a X% share of total exports. Moreover, wool grease exports to Canada exceeded the volume sent to the second major destination, the UK (X tons), fivefold. The third position in this ranking was taken by China (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms 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 China (X% per year).

In value terms, Canada ($X) remains the key foreign market for wool grease and fatty substances exports from the United States, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and the UK (X% per year).

Export Prices by Country

The average wool grease export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Wool Grease Imports

Imports into the U.S.

In 2022, approx. X tons of wool grease and fatty substances were imported into the United States; growing by X% compared with the previous year. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wool grease imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), China (X tons) and Japan (X tons) were the main suppliers of wool grease imports to the United States, with a combined X% share of total imports.

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

In value terms, the largest wool grease suppliers to the United States were Japan ($X), the UK ($X) and China ($X), with a combined X% share of total imports. India, Belgium, Italy, Uruguay, Mexico and Singapore lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, India, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the average wool grease import price amounted to $X per ton, increasing by X% against the previous year. Overall, the import price, however, showed a mild downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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