South-Eastern Asia: Greasy Wool Market 2024

Greasy Wool Market Size in South-Eastern Asia

After three years of decline, the Southeast Asian greasy wool market increased by 8.2% to $X in 2022. Over the period under review, consumption, however, showed a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Greasy Wool Production in South-Eastern Asia

In value terms, greasy wool production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of 15%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Greasy Wool Exports

Exports in South-Eastern Asia

In 2022, greasy wool exports in South-Eastern Asia soared to X tons, growing by 27% compared with the previous year. Over the period under review, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2015 when exports increased by 439% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, greasy wool exports reduced to $X in 2022. In general, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2015 with an increase of 321% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Malaysia (X tons) and Vietnam (X tons) represented the key exporters of greasy wool in South-Eastern Asia, together accounting for approx. 88% of total exports. It was distantly followed by Indonesia (X tons), creating a 12% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +24.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Malaysia ($X) remains the largest greasy wool supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Malaysia totaled -9.0%. In the other countries, the average annual rates were as follows: Vietnam (+3.3% per year) and Indonesia (+4.6% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, waning by -24.4% against the previous year. Export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, greasy wool export price increased by +29.7% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 71% against the previous year. The level of export peaked at $X per ton in 2021, and then reduced markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.6%), while the other leaders experienced a decline in the export price figures.

Greasy Wool Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of greasy wool increased by 272% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports showed a perceptible expansion. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, greasy wool imports surged to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia dominates imports structure, recording X tons, which was approx. 90% of total imports in 2022. It was distantly followed by Vietnam (X tons), mixing up a 9.1% share of total imports.

Malaysia was also the fastest-growing in terms of the greasy wool imports, with a CAGR of +14.9% from 2012 to 2022. At the same time, Vietnam (+7.4%) displayed positive paces of growth. Malaysia (+55 p.p.) and Vietnam (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported greasy wool in South-Eastern Asia, comprising 79% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 20% share of total imports.

In Malaysia, greasy wool imports increased at an average annual rate of +6.6% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by 4.4% against the previous year. Overall, the import price, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2021 when the import price increased by 59% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Vietnam ($X per ton), while Malaysia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+18.2%).

Source: IndexBox Platform

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