Report Update Nov 1, 2024

Nigeria - Greasy Wool - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Greasy Wool Market 2024

Greasy Wool Market Size in Nigeria

The Nigerien greasy wool market expanded rapidly to $X in 2022, growing by 12% against the previous year. In general, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Greasy Wool Production in Nigeria

In value terms, greasy wool production expanded remarkably to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced setback. The growth pace was the most rapid in 2020 with an increase of 27% against the previous year. Greasy wool production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Greasy Wool Exports

Exports from Nigeria

In 2022, overseas shipments of greasy wool increased by 2.2% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2021 when exports increased by 585%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, greasy wool exports totaled $X in 2022. Overall, exports, however, saw a precipitous decline. The most prominent rate of growth was recorded in 2021 when exports increased by 302% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X tons) was the main destination for greasy wool exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Burkina Faso totaled +15.1%.

In value terms, Burkina Faso ($X) also remains the key foreign market for greasy wool exports from Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value to Burkina Faso amounted to +12.8%.

Export Prices by Country

In 2022, the average greasy wool export price amounted to $X per ton, which is down by -1.7% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 63%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Burkina Faso.

From 2012 to 2022, the rate of growth in terms of prices for Burkina Faso amounted to -2.0% per year.

Greasy Wool Imports

Imports into Nigeria

In 2022, imports of greasy wool into Nigeria surged to X tons, picking up by 38% against the year before. In general, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 1,106% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, greasy wool imports fell slightly to $X in 2022. Over the period under review, imports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 606%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of greasy wool to Nigeria, accounting for a 86% share of total imports. Moreover, greasy wool imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +16.1%.

In value terms, China ($X) constituted the largest supplier of greasy wool to Nigeria, comprising 85% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +6.2%.

Import Prices by Country

In 2022, the average greasy wool import price amounted to $X per ton, reducing by -27.6% against the previous year. Overall, the import price saw a perceptible decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 81%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for greasy wool in the world?

China constituted the country with the largest volume of greasy wool consumption, accounting for 33% of total volume. Moreover, greasy wool consumption in China exceeded the figures recorded by the second-largest consumer, New Zealand, fivefold. India ranked third in terms of total consumption with a 6% share.

What are the largest producers of greasy wool in the world?

The countries with the highest volumes of greasy wool production in 2021 were China, Australia and New Zealand, with a combined 42% share of global production. These countries were followed by Turkey, the UK, Morocco, Iran, Russia, South Africa, India, Pakistan, Argentina and Turkmenistan, which together accounted for a further 28%.

What are the leading suppliers of greasy wool to Nigeria?

In value terms, China constituted the largest supplier of greasy wool to Nigeria, comprising 84% of total imports. The second position in the ranking was occupied by the United States, with a 16% share of total imports.

What are the leading importers of greasy wool from Nigeria?

In value terms, Burkina Faso remains the key foreign market for greasy wool exports from Nigeria.

What is the average export price for greasy wool in Nigeria?

In 2021, the average greasy wool export price amounted to $601 per ton, dropping by -7.7% against the previous year.

What is the average import price for greasy wool in Nigeria?

The average greasy wool import price stood at $5,154 per ton in 2021, reducing by -19.8% against the previous year.

This report provides an in-depth analysis of the greasy wool market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 987 - Wool, Greasy

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023