GCC: Wool Grease Market 2024

Wool Grease Market Size in GCC

In 2022, the GCC wool grease market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption recorded a deep reduction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Wool Grease Production in GCC

In value terms, wool grease production rose slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Wool Grease Exports

Exports in GCC

In 2022, after two years of decline, there was significant growth in overseas shipments of wool grease and fatty substances, when their volume increased by X% to X tons. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, wool grease exports soared to $X in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Kuwait (X tons), comprising an X% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) emerged as the largest wool grease supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports.

In the United Arab Emirates, wool grease exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price saw slight growth. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Wool Grease Imports

Imports in GCC

In 2022, imports of wool grease and fatty substances in GCC skyrocketed to X tons, jumping by X% compared with the year before. In general, imports, however, showed a perceptible slump. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wool grease imports surged to $X in 2022. Overall, imports, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the main importer of wool grease and fatty substances in GCC, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Oman (X tons), generating a X% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the wool grease and fatty substances imports, with a CAGR of X% from 2012 to 2022. Oman (X%) and Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported wool grease and fatty substances in GCC, comprising X% of total imports. The second position in the ranking was held by Oman ($X), with a X% share of total imports.

In the United Arab Emirates, wool grease imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, reducing by X% against the previous year. Overall, the import price, however, recorded a modest increase. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell remarkably in the following year.

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 the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :