EU: Wool Grease Market 2024

Wool Grease Market Size in the EU

The EU wool grease market surged to $X in 2022, picking up by 33% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Wool Grease Production in the EU

In value terms, wool grease production skyrocketed to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +23.6% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 36%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Wool Grease Exports

Exports in the EU

Wool grease exports shrank dramatically to X tons in 2022, which is down by -16.5% against the year before. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 49%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, wool grease exports reduced to $X in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 46%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Belgium (X tons), Germany (X tons), the Czech Republic (X tons) and Italy (X tons), together amounting to 86% of total export. It was distantly followed by the Netherlands (X tons), comprising a 6% share of total exports. Bulgaria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bulgaria (with a CAGR of +77.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest wool grease supplying countries in the European Union were Belgium ($X), Germany ($X) and the Netherlands ($X), with a combined 79% share of total exports. The Czech Republic, Italy and Bulgaria lagged somewhat behind, together comprising a further 18%.

Bulgaria, with a CAGR of +59.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, rising by 13% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2018 an increase of 18% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

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 the Netherlands ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.9%), while the other leaders experienced more modest paces of growth.

Wool Grease Imports

Imports in the EU

In 2022, supplies from abroad of wool grease and fatty substances was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, wool grease imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany was the main importing country with an import of about X tons, which resulted at 50% of total imports. Belgium (X tons) held the second position in the ranking, distantly followed by the Netherlands (X tons) and Italy (X tons). All these countries together held approx. 33% share of total imports. The following importers - France (X tons), Spain (X tons) and Ireland (X tons) - together made up 9.8% of total imports.

Germany was also the fastest-growing in terms of the wool grease and fatty substances imports, with a CAGR of +4.0% from 2012 to 2022. Ireland (-2.4%), Belgium (-2.9%), the Netherlands (-5.4%), Italy (-5.7%), Spain (-5.9%) and France (-6.6%) illustrated a downward trend over the same period. Germany (+19 p.p.) significantly strengthened its position in terms of the total imports, while Spain, France, Italy, Belgium and the Netherlands saw its share reduced by -2.6%, -3.5%, -3.7%, -4.3% and -5.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported wool grease and fatty substances in the European Union, comprising 42% of total imports. The second position in the ranking was taken by Belgium ($X), with a 15% share of total imports. It was followed by the Netherlands, with a 14% share.

In Germany, wool grease imports expanded at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (-1.5% per year) and the Netherlands (-2.2% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, surging by 15% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 21% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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