Eastern Europe: Wool Grease Market 2024

Wool Grease Market Size in Eastern Europe

The East European wool grease market surged to $X in 2022, jumping by 56% against the previous year. Overall, consumption, however, saw a pronounced decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Wool Grease Production in Eastern Europe

In value terms, wool grease production stood at $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2013 with an increase of 6.8%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Wool Grease Exports

Exports in Eastern Europe

In 2022, the amount of wool grease and fatty substances exported in Eastern Europe fell significantly to X tons, reducing by -44.2% on the previous year's figure. Overall, exports, however, enjoyed pronounced growth. The pace of growth appeared the most rapid in 2021 when exports increased by 108% against the previous year. As a result, the exports attained the peak of X tons, and then dropped dramatically in the following year.

In value terms, wool grease exports fell significantly to $X in 2022. In general, exports, however, continue to indicate a slight expansion. The growth pace was the most rapid in 2021 with an increase of 159%. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

The Czech Republic was the main exporter of wool grease and fatty substances in Eastern Europe, with the volume of exports accounting for X tons, which was near 78% of total exports in 2022. It was distantly followed by Bulgaria (X tons), creating a 19% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wool grease exports from the Czech Republic stood at +2.4%. At the same time, Bulgaria (+77.7%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +77.7% from 2012-2022. While the share of Bulgaria (+19 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Czech Republic (-19.9 p.p.) displayed negative dynamics.

In value terms, the Czech Republic ($X) remains the largest wool grease supplier in Eastern Europe, comprising 78% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 17% share of total exports.

In the Czech Republic, wool grease exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, growing by 18% against the previous year. Overall, the export price, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2017 an increase of 39%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Bulgaria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (-2.4%).

Wool Grease Imports

Imports in Eastern Europe

In 2022, approx. X tons of wool grease and fatty substances were imported in Eastern Europe; with an increase of 7.1% against the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, wool grease imports expanded notably to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. 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

Russia (X tons) and Poland (X tons) represented roughly 61% of total imports in 2022. The Czech Republic (X tons) held the next position in the ranking, followed by Bulgaria (X tons), Slovakia (X tons), Romania (X tons) and Hungary (X tons). All these countries together held near 35% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +9.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and the Czech Republic ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 70% of total imports. Bulgaria, Romania, Hungary and Slovakia lagged somewhat behind, together accounting for a further 26%.

Hungary, with a CAGR of +8.5%, recorded the highest growth rate of the value of imports, among the main importing countries 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 Eastern Europe amounted to $X per ton, picking up by 3.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 29%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Poland ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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