Updated Jan 22, 2023 09:08

Wool Grease Market in Finland

Market Overview
The Finnish wool grease market skyrocketed to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a abrupt descent. Over the period under review, the market attained the peak level at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.


Consumption
In , wool grease consumption in Finland soared to tons, with an increase of % on the previous year's figure. Over the period under review, consumption, however, recorded a deep downturn. Over the period under review, consumption reached the peak volume at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.

The value of the wool grease market in Finland soared to $ in , jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a abrupt descent. Wool grease consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.


Market Forecast
Depressed by shrinking demand for wool grease in Finland, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Wool grease market in Finland consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Finland remains a net importer of wool grease; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.