Africa: Greasy Wool Market 2024

Greasy Wool Market Size in Africa

The African greasy wool market soared to $X in 2022, rising by 45% against the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +54.1% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Greasy Wool Production in Africa

In value terms, greasy wool production declined to $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by 18% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Greasy Wool Exports

Exports in Africa

In 2022, after two years of growth, there was significant decline in overseas shipments of greasy wool, when their volume decreased by -20.6% to X tons. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. The volume of export peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, greasy wool exports reduced rapidly to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 29%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Africa prevails in exports structure, reaching X tons, which was near 70% of total exports in 2022. Lesotho (X tons) ranks second in terms of the total exports with a 9.1% share, followed by Tunisia (7.9%). Libya (X tons), Kenya (X tons), Algeria (X tons) and Morocco (X tons) took a relatively small share of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of greasy wool. At the same time, Algeria (+26.8%), Tunisia (+15.8%), Kenya (+7.3%) and Libya (+5.9%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing exporter exported in Africa, with a CAGR of +26.8% from 2012-2022. By contrast, Morocco (-5.7%) and Lesotho (-9.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Tunisia, South Africa, Algeria, Libya and Kenya increased by +6.2, +5, +2.7, +1.9 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest greasy wool supplier in Africa, comprising 85% of total exports. The second position in the ranking was held by Lesotho ($X), with a 12% share of total exports. It was followed by Tunisia, with a 1% share.

In South Africa, greasy wool exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Lesotho (+0.4% per year) and Tunisia (+8.9% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, approximately reflecting the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 24% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Lesotho ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lesotho (+10.3%), while the other leaders experienced a decline in the export price figures.

Greasy Wool Imports

Imports in Africa

In 2022, supplies from abroad of greasy wool was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 79%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, greasy wool imports expanded markedly to $X in 2022. Over the period under review, imports enjoyed buoyant growth. The growth pace was the most rapid in 2018 with an increase of 110%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Egypt (X tons) and South Africa (X tons) prevails in imports structure, together comprising 88% of total imports. It was distantly followed by Mauritius (X tons), generating a 7.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mauritius (with a CAGR of +162.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), South Africa ($X) and Mauritius ($X) were the countries with the highest levels of imports in 2022, with a combined 99% share of total imports.

In terms of the main importing countries, Mauritius, with a CAGR of +150.3%, 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 2022, the import price in Africa amounted to $X per ton, with an increase of 5.3% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 31%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritius ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+8.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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