Europe: Wool Grease Market 2024

Wool Grease Market Size in Europe

For the third year in a row, the Europe wool grease market recorded growth in sales value, which increased by 26% to $X in 2022. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Wool Grease Production in Europe

In value terms, wool grease production surged to $X in 2022 estimated in export price. In general, production showed a temperate expansion. The pace of growth appeared the most rapid in 2016 with an increase of 111%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Wool Grease Exports

Exports in Europe

In 2022, overseas shipments of wool grease and fatty substances increased by 3.4% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 10%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, wool grease exports rose notably to $X in 2022. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 22% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK represented the largest exporter of wool grease and fatty substances in Europe, with the volume of exports accounting for X tons, which was approx. 43% of total exports in 2022. Belgium (X tons) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Germany (13%), the Czech Republic (11%) and Italy (7.8%). The following exporters - the Netherlands (X tons) and Bulgaria (X tons) - each accounted for a 6% share of total exports.

Exports from the UK decreased at an average annual rate of -1.1% from 2012 to 2022. At the same time, Bulgaria (+77.7%), Germany (+3.9%) and the Czech Republic (+2.4%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Europe, with a CAGR of +77.7% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, the Netherlands (-2.6%) and Belgium (-3.4%) illustrated a downward trend over the same period. Germany (+4.5 p.p.), the Czech Republic (+2.6 p.p.) and Bulgaria (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while the UK and Belgium saw its share reduced by -2.7% and -6.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($X) remains the largest wool grease supplier in Europe, comprising 41% of total exports. The second position in the ranking was taken by Belgium ($X), with a 20% share of total exports. It was followed by Germany, with a 15% share.

In the UK, wool grease exports contracted by an average annual rate of -1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (-1.2% per year) and Germany (+7.6% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, surging by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2018 an increase of 11%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain 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 Europe

In 2022, overseas purchases of wool grease and fatty substances increased by 2.9% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a perceptible descent. The growth pace was the most rapid in 2017 when imports increased by 18% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, wool grease imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a mild setback. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons) and the UK (X tons) were the largest importers of wool grease and fatty substances in 2022, accounting for near 35% and 26% of total imports, respectively. Belgium (X tons) ranks next in terms of the total imports with a 12% share, followed by the Netherlands (6.7%). Italy (X tons), France (X tons) and Spain (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Germany (with a CAGR of +4.0%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest wool grease importing markets in Europe were Germany ($X), the UK ($X) and Belgium ($X), together comprising 63% of total imports.

Germany, with a CAGR of +3.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, growing by 17% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wool grease import price increased by +44.3% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 23%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

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 France ($X per ton), while the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform