Global Wool Grease Market 2023

Wool Grease Market Size

In 2021, the global wool grease market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a slight reduction. Global consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Wool Grease Production

In value terms, wool grease production declined modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2016 with an increase of 41%. As a result, production attained the peak level of $X. From 2017 to 2021, global production growth remained at a somewhat lower figure.

Wool Grease Exports

Exports

In 2021, overseas shipments of wool grease and fatty substances increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a slight contraction. Over the period under review, the global exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, wool grease exports surged to $X in 2021. Overall, exports, however, saw a perceptible setback. Over the period under review, the global exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons) was the largest exporter of wool grease and fatty substances, mixing up 34% of total exports. The UK (X tons) ranks second in terms of the total exports with a 9% share, followed by the United States (8.7%), the Czech Republic (6.8%), Belgium (6.3%), New Zealand (6%), Japan (5.4%) and Uruguay (4.8%).

China experienced a relatively flat trend pattern with regard to volume of exports of wool grease and fatty substances. At the same time, the Czech Republic (+11.1%) and the United States (+2.4%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.1% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, New Zealand (-1.9%), Uruguay (-2.1%), Belgium (-2.5%) and the UK (-5.6%) illustrated a downward trend over the same period. While the share of the Czech Republic (+4.4 p.p.), the United States (+2.4 p.p.) and China (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the UK (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wool grease supplier worldwide, comprising 28% of global exports. The second position in the ranking was held by the UK ($X), with a 12% share of global exports. It was followed by Belgium, with a 10% share.

In China, wool grease exports decreased by an average annual rate of -2.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the UK (-6.7% per year) and Belgium (-1.1% per year).

Export Prices by Country

The average wool grease export price stood at $X per ton in 2021, increasing by 19% against the previous year. Overall, the export price, however, showed a slight descent. The global export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+1.4%), while the other global leaders experienced mixed trends in the export price figures.

Wool Grease Imports

Imports

After two years of decline, overseas purchases of wool grease and fatty substances increased by 12% to X tons in 2021. Over the period under review, imports, however, continue to indicate a slight reduction. Over the period under review, global imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, wool grease imports skyrocketed to $X in 2021. Overall, imports, however, recorded a perceptible descent. Global imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X tons), Germany (X tons), Japan (X tons) and the United States (X tons) represented the key importer of wool grease and fatty substances in the world, generating 61% of total import. It was distantly followed by India (X tons), achieving a 6.7% share of total imports. Belgium (X tons), Brazil (X tons), the Netherlands (X tons), Italy (X tons) and Uruguay (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +20.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), the UK ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 41% share of global imports. The United States, the Netherlands, Brazil, India, Belgium, Italy and Uruguay lagged somewhat behind, together accounting for a further 31%.

Among the main importing countries, India, with a CAGR of +12.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the average wool grease import price amounted to $X per ton, picking up by 17% against the previous year. In general, the import price, however, recorded a slight decrease. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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