Southern Asia: Greasy Wool Market 2024

Greasy Wool Market Size in Southern Asia

In 2022, the South Asian greasy wool market increased by 5.3% to $X, rising for the second year in a row after three years of decline. In general, consumption showed a pronounced downturn. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Greasy Wool Production in Southern Asia

In value terms, greasy wool production declined to $X in 2022 estimated in export price. Overall, production recorded a slight decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 67% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Greasy Wool Exports

Exports in Southern Asia

In 2022, overseas shipments of greasy wool increased by 101% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, recorded a deep slump. The growth pace was the most rapid in 2018 when exports increased by 163% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, greasy wool exports soared to $X in 2022. Over the period under review, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 126% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Afghanistan represented the main exporter of greasy wool in Southern Asia, with the volume of exports finishing at X tons, which was near 53% of total exports in 2022. Pakistan (X tons) held the second position in the ranking, distantly followed by India (X tons). All these countries together took near 44% share of total exports. Bangladesh (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bangladesh (with a CAGR of +50.6%), while the other leaders experienced a decline in the exports figures.

In value terms, Pakistan ($X), Afghanistan ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 94% of total exports. These countries were followed by Bangladesh, which accounted for a further 1.1%.

Bangladesh, with a CAGR of +24.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, rising by 1.7% against the previous year. Overall, the export price, however, showed a slight curtailment. The pace of growth was the most pronounced in 2017 an increase of 55% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Greasy Wool Imports

Imports in Southern Asia

After two years of growth, supplies from abroad of greasy wool decreased by -20.9% to X tons in 2022. Over the period under review, imports saw a slight decrease. The pace of growth appeared the most rapid in 2021 with an increase of 48% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, greasy wool imports skyrocketed to $X in 2022. In general, imports saw a perceptible decrease. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India dominates imports structure, amounting to X tons, which was approx. 95% of total imports in 2022. Nepal (X tons) took a minor share of total imports.

Imports into India decreased at an average annual rate of -2.0% from 2012 to 2022. At the same time, Nepal (+5.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +5.9% from 2012-2022. Nepal (+2.3 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, India ($X) constitutes the largest market for imported greasy wool in Southern Asia, comprising 97% of total imports. The second position in the ranking was held by Nepal ($X), with a 2.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled -3.7%.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, picking up by 64% against the previous year. Overall, the import price, however, showed a slight curtailment. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Nepal amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-1.8%).

Source: IndexBox Platform

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