Egypt: Wool Grease Market 2024

Wool Grease Market Size in Egypt

In 2022, the Egyptian wool grease market increased by 72% to $X, rising for the third year in a row after two years of decline. Overall, consumption recorded resilient growth. Wool grease consumption peaked in 2022 and is likely to continue growth in the immediate term.

Wool Grease Production in Egypt

In value terms, wool grease production contracted remarkably to $X in 2022 estimated in export price. In general, production, however, recorded a deep reduction. The growth pace was the most rapid in 2018 with a decrease of -5.7% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Wool Grease Exports

Exports from Egypt

In 2022, shipments abroad of wool grease and fatty substances increased by 359% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 8,313%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, wool grease exports skyrocketed to $X in 2022. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2013 with an increase of 10,476% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Belgium (X tons) was the main destination for wool grease exports from Egypt, accounting for a 66% share of total exports. Moreover, wool grease exports to Belgium exceeded the volume sent to the second major destination, Japan (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Belgium amounted to +28.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.8% per year) and Uruguay (0.0% per year).

In value terms, Belgium ($X) emerged as the key foreign market for wool grease and fatty substances exports from Egypt, comprising 57% of total exports. The second position in the ranking was held by Japan ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Belgium totaled +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+0.4% per year) and Uruguay (0.0% per year).

Export Prices by Country

In 2022, the average wool grease export price amounted to $X per ton, which is down by -18.1% against the previous year. In general, the export price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2017 an increase of 61% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while the average price for exports to Belgium ($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 Japan (+2.2%), while the prices for the other major destinations experienced a decline.

Wool Grease Imports

Imports into Egypt

For the fourth year in a row, Egypt recorded decline in overseas purchases of wool grease and fatty substances, which decreased by -3.2% to X tons in 2022. Overall, imports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2013 with an increase of 112%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, wool grease imports expanded significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2013 with an increase of 139% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Uruguay (X tons) constituted the largest wool grease supplier to Egypt, with a 74% share of total imports. Moreover, wool grease imports from Uruguay exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume from Uruguay amounted to -14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-20.1% per year) and Germany (-9.8% per year).

In value terms, Uruguay ($X) constituted the largest supplier of wool grease and fatty substances to Egypt, comprising 74% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by Germany, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Uruguay totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-14.2% per year) and Germany (-6.0% per year).

Import Prices by Country

In 2022, the average wool grease import price amounted to $X per ton, with an increase of 16% against the previous year. Overall, the import price recorded a prominent increase. The most prominent rate of growth was recorded in 2021 an increase of 40% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Germany ($X per ton), while the price for Uruguay ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+29.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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