United Kingdom: Wool Grease Market 2024

Wool Grease Market Size in the UK

The UK wool grease market expanded sharply to $X in 2022, rising by 7.6% against the previous year. In general, consumption recorded a mild slump. Wool grease consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wool Grease Production in the UK

In value terms, wool grease production totaled less than $X in 2022 estimated in export price. Over the period under review, production faced a sharp shrinkage. The pace of growth appeared the most rapid in 2017 when the production volume decreased by 99.9% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Wool Grease Exports

Exports from the UK

In 2022, the amount of wool grease and fatty substances exported from the UK surged to X tons, increasing by 51% on the previous year's figure. Overall, exports, however, recorded a mild shrinkage. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, wool grease exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a mild slump. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), the Netherlands (X tons) and the United States (X tons) were the main destinations of wool grease exports from the UK, together accounting for 60% of total exports. Italy, Japan, Poland, France, India, Spain, Brazil, Ireland and Singapore lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +10.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wool grease exported from the UK were the Netherlands ($X), Germany ($X) and the United States ($X), together accounting for 59% of total exports. Poland, Japan, Italy, France, Brazil, Ireland, India, Spain and Singapore lagged somewhat behind, together accounting for a further 29%.

Poland, with a CAGR of +11.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wool grease export price amounted to $X per ton, picking up by 10% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29%. Over the period under review, the average export prices reached the peak figure 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 for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Spain ($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 Singapore (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wool Grease Imports

Imports into the UK

In 2022, the amount of wool grease and fatty substances imported into the UK declined markedly to X tons, with a decrease of -22.7% compared with 2021 figures. In general, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 when imports increased by 127%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, wool grease imports fell to $X in 2022. Overall, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 92% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wool grease to the UK, accounting for a 50% share of total imports. Moreover, wool grease imports from China exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), threefold. Seychelles (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-2.5% per year) and Seychelles (+127.9% per year).

In value terms, China ($X) constituted the largest supplier of wool grease and fatty substances to the UK, comprising 49% of total imports. The second position in the ranking was held by New Zealand ($X), with a 14% share of total imports. It was followed by Seychelles, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-2.0% per year) and Seychelles (+158.5% per year).

Import Prices by Country

In 2022, the average wool grease import price amounted to $X per ton, surging by 13% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 28% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Seychelles (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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