Denmark: Greasy Wool Market 2024

Greasy Wool Market Size in Denmark

In 2022, the Danish greasy wool market decreased by -20.4% to $X, falling for the second consecutive year after two years of growth. Overall, consumption showed a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Greasy Wool Production in Denmark

In value terms, greasy wool production fell remarkably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a precipitous slump. The growth pace was the most rapid in 2014 with an increase of 307% against the previous year. Greasy wool production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Greasy Wool Exports

Exports from Denmark

In 2022, the amount of greasy wool exported from Denmark surged to X tons, jumping by 48% on the previous year's figure. Overall, exports showed a significant increase. The growth pace was the most rapid in 2015 when exports increased by 12,100%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, greasy wool exports soared to $X in 2022. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 14,142% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for greasy wool exports from Denmark, with a 76% share of total exports. Moreover, greasy wool exports to the UK exceeded the volume sent to the second major destination, South Africa (X tons), fourfold. The third position in this ranking was held by Greenland (X kg), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (0.0% per year) and Greenland (+91.1% per year).

In value terms, the largest markets for greasy wool exported from Denmark were the UK ($X), South Africa ($X) and Greenland ($X), together comprising 94% of total exports.

Greenland, with a CAGR of +61.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average greasy wool export price amounted to $X per ton, rising by 28% against the previous year. In general, the export price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 147%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to the UK ($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 Faroe Islands (+4.5%), while the prices for the other major destinations experienced a decline.

Greasy Wool Imports

Imports into Denmark

In 2022, overseas purchases of greasy wool decreased by -94.2% to X tons, falling for the second year in a row after two years of growth. Overall, imports showed a deep slump. The pace of growth appeared the most rapid in 2014 when imports increased by 150,729% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, greasy wool imports fell dramatically to $X in 2022. Over the period under review, imports continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 60,271% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Norway (X tons) was the main supplier of greasy wool to Denmark, accounting for a 94% share of total imports. Moreover, greasy wool imports from Norway exceeded the figures recorded by the second-largest supplier, the UK (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Norway stood at -94.5%.

In value terms, Norway ($X) constituted the largest supplier of greasy wool to Denmark, comprising 59% of total imports. The second position in the ranking was held by the UK ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Norway stood at -95.5%.

Import Prices by Country

The average greasy wool import price stood at $X per ton in 2022, surging by 12% against the previous year. In general, the import price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2018 an increase of 159%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Norway stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greenland (+5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :