Sweden: Wool Grease Market 2024

Wool Grease Market Size in Sweden

The Swedish wool grease market skyrocketed to $X in 2022, jumping by 294% against the previous year. In general, consumption enjoyed a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wool Grease Production in Sweden

In value terms, wool grease production amounted to less than $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with a decrease of 99.9% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Wool Grease Exports

Exports from Sweden

In 2022, shipments abroad of wool grease and fatty substances decreased by -35.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded pronounced growth. The pace of growth appeared the most rapid in 2021 when exports increased by 297% against the previous year. As a result, the exports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, wool grease exports surged to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 30% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Norway (X tons) was the main destination for wool grease exports from Sweden, with a 66% share of total exports. Moreover, wool grease exports to Norway exceeded the volume sent to the second major destination, Denmark (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Norway totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-3.2% per year) and Finland (+45.9% per year).

In value terms, the largest markets for wool grease exported from Sweden were Denmark ($X), Norway ($X) and Finland ($X), with a combined 100% share of total exports.

In terms of the main countries of destination, Finland, with a CAGR of +31.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average wool grease export price amounted to $X per ton, with an increase of 83% against the previous year. Overall, the export price, however, continues to indicate a mild shrinkage. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+7.2%), while the prices for the other major destinations experienced a decline.

Wool Grease Imports

Imports into Sweden

In 2022, the amount of wool grease and fatty substances imported into Sweden declined to X tons, shrinking by -14.1% on the previous year's figure. Over the period under review, imports, however, saw a tangible expansion. The pace of growth appeared the most rapid in 2015 with an increase of 66%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, wool grease imports reached $X in 2022. In general, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 61%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

The UK (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of wool grease imports to Sweden, together accounting for 93% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +22.3%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Belgium ($X), the UK ($X) and Germany ($X) constituted the largest wool grease suppliers to Sweden, with a combined 92% share of total imports.

Belgium, with a CAGR of +28.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wool grease import price stood at $X per ton in 2022, growing by 20% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wool grease import price increased by +148.3% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of 60% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+41.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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