ECOWAS: Wool Grease Market 2025

Wool Grease Market Size in ECOWAS

In 2022, after three years of growth, there was significant decline in the ECOWAS wool grease market, when its value decreased by -6.7% to $X. In general, consumption showed a drastic downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wool Grease Production in ECOWAS

In value terms, wool grease production surged to $X in 2022 estimated in export price. Overall, production saw a significant increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Wool Grease Exports

Exports in ECOWAS

Wool grease exports skyrocketed to X tons in 2022, rising by 284% against 2021 figures. Over the period under review, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wool grease exports surged to $X in 2022. Overall, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Togo (X tons) represented the major exporter of wool grease and fatty substances, constituting 69% of total exports. It was distantly followed by Senegal (X tons), making up a 30% share of total exports. Cote d'Ivoire (X tons) held a little share of total exports.

Togo experienced a relatively flat trend pattern with regard to volume of exports of wool grease and fatty substances. At the same time, Senegal (+8.8%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +8.8% from 2012-2022. Cote d'Ivoire experienced a relatively flat trend pattern. While the share of Togo (+69 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-8.9 p.p.) and Senegal (-57.8 p.p.) displayed negative dynamics.

In value terms, Togo ($X) emerged as the largest wool grease supplier in ECOWAS, comprising 75% of total exports. The second position in the ranking was taken by Senegal ($X), with a 23% share of total exports.

In Togo, wool grease exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+3.5% per year) and Cote d'Ivoire (+0.1% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, picking up by 21% against the previous year. Overall, the export price, however, saw a perceptible downturn. The growth pace was the most rapid in 2018 when the export price increased by 38% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.1%).

Wool Grease Imports

Imports in ECOWAS

In 2022, after three years of growth, there was decline in overseas purchases of wool grease and fatty substances, when their volume decreased by -2.9% to X tons. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 58% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, wool grease imports reduced to $X in 2022. In general, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 26%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of wool grease imports in 2022 were Cote d'Ivoire (X tons), Nigeria (X tons) and Senegal (X tons), together accounting for 82% of total import. It was distantly followed by Togo (X tons), committing a 7.5% share of total imports. The following importers - Ghana (X tons), Gambia (X tons) and Guinea (X tons) - together made up 8.3% of total imports.

From 2012 to 2022, the biggest increases were recorded for Gambia (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wool grease importing markets in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Nigeria ($X), together accounting for 82% of total imports. Togo, Ghana, Gambia and Guinea lagged somewhat behind, together comprising a further 17%.

Togo, with a CAGR of +21.4%, saw 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

The import price in ECOWAS stood at $X per ton in 2022, reducing by -3.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 58% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform