MENA: Wool Grease Market 2024

Wool Grease Market Size in MENA

The MENA's wool grease market surged to $X in 2022, jumping by 19% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Wool Grease Production in MENA

In value terms, wool grease production reduced rapidly to $X in 2022 estimated in export price. Overall, production recorded a measured expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 211% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Wool Grease Exports

Exports in MENA

In 2022, shipments abroad of wool grease and fatty substances increased by 236% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 754% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, wool grease exports soared to $X in 2022. Over the period under review, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 296% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

Egypt dominates exports structure, recording X tons, which was near 81% of total exports in 2022. Turkey (X tons) held the second position in the ranking, followed by Israel (X tons). All these countries together held near 13% share of total exports. The United Arab Emirates (X tons) took a minor share of total exports.

Egypt was also the fastest-growing in terms of the wool grease and fatty substances exports, with a CAGR of +61.8% from 2012 to 2022. At the same time, the United Arab Emirates (+22.7%) and Turkey (+5.6%) displayed positive paces of growth. Israel experienced a relatively flat trend pattern. Egypt (+73 p.p.) and Israel (+6.1 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Turkey saw its share reduced by -2.2% and -45.2% from 2012 to 2022, respectively.

In value terms, Egypt ($X) remains the largest wool grease supplier in MENA, comprising 70% of total exports. The second position in the ranking was held by Israel ($X), with a 14% share of total exports. It was followed by Turkey, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Egypt amounted to +59.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (-1.4% per year) and Turkey (-4.9% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, reducing by -44.5% against the previous year. Overall, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2020 when the export price increased by 84%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Israel ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (-1.1%), while the other leaders experienced a decline in the export price figures.

Wool Grease Imports

Imports in MENA

In 2022, approx. X tons of wool grease and fatty substances were imported in MENA; with an increase of 20% compared with 2021 figures. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 32%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, wool grease imports soared to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 31% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey was the main importer of wool grease and fatty substances in MENA, with the volume of imports finishing at X tons, which was approx. 31% of total imports in 2022. It was distantly followed by Israel (X tons), Morocco (X tons), Iran (X tons), the United Arab Emirates (X tons), Algeria (X tons) and Egypt (X tons), together constituting a 60% share of total imports.

Turkey was also the fastest-growing in terms of the wool grease and fatty substances imports, with a CAGR of +3.0% from 2012 to 2022. At the same time, Morocco (+3.0%), the United Arab Emirates (+3.0%) and Israel (+2.5%) displayed positive paces of growth. Algeria and Iran experienced a relatively flat trend pattern. By contrast, Egypt (-2.0%) illustrated a downward trend over the same period. While the share of Turkey (+9 p.p.), Morocco (+4.1 p.p.), Israel (+3.8 p.p.) and the United Arab Emirates (+1.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Morocco ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2022, with a combined 58% share of total imports. Iran, the United Arab Emirates, Algeria and Egypt lagged somewhat behind, together comprising a further 33%.

The United Arab Emirates, with a CAGR of +6.5%, 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 MENA stood at $X per ton in 2022, leveling off at the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 21%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the United Arab Emirates ($X per ton) and Algeria ($X per ton), while Turkey ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform