GCC: Greasy Wool Market 2025

Greasy Wool Market Size in GCC

The GCC greasy wool market rose remarkably to $X in 2022, surging by 11% against the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +112.6% against 2016 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the immediate term.

Greasy Wool Production in GCC

In value terms, greasy wool production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 44% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Greasy Wool Exports

Exports in GCC

In 2022, the amount of greasy wool exported in GCC fell markedly to X tons, with a decrease of -25.3% against the previous year's figure. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 35%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, greasy wool exports contracted to $X in 2022. In general, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 16%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the largest exporter of greasy wool in GCC, with the volume of exports reaching X tons, which was near 70% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Kuwait (X tons), together generating a 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to greasy wool exports from Saudi Arabia stood at -10.4%. Kuwait (-5.4%) and the United Arab Emirates (-5.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Kuwait increased by +5.9 and +3.8 percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest greasy wool supplier in GCC, comprising 74% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia stood at -8.8%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-9.9% per year) and Kuwait (-6.5% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, increasing by 21% against the previous year. In general, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.8%), while the other leaders experienced a decline in the export price figures.

Greasy Wool Imports

Imports in GCC

In 2022, greasy wool imports in GCC skyrocketed to X tons, jumping by 20% on the year before. In general, imports showed a slight expansion. The pace of growth was the most pronounced in 2018 with an increase of 1,083% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, greasy wool imports surged to $X in 2022. Overall, imports, however, recorded a mild setback. The growth pace was the most rapid in 2018 with an increase of 606% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Kuwait (X tons) was the largest importer of greasy wool, creating 85% of total imports. It was distantly followed by the United Arab Emirates (X tons), generating a 15% share of total imports.

Imports into Kuwait increased at an average annual rate of +8.1% from 2012 to 2022. At the same time, the United Arab Emirates (+10.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +10.2% from 2012-2022. While the share of Kuwait (+38 p.p.) and the United Arab Emirates (+8.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported greasy wool in GCC, comprising 74% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 23% share of total imports.

In Kuwait, greasy wool imports increased at an average annual rate of +4.7% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price showed a pronounced decline. The pace of growth was the most pronounced in 2014 when the import price increased by 22%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, 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 the United Arab Emirates ($X per ton), while Kuwait amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-2.5%).

Source: IndexBox Platform