Wool Grease Market in Belgium
Market Overview
In 
, the Belgian wool grease market increased by % to $, rising for the second year in a row after five years of decline. In general, consumption recorded a perceptible slump. Wool grease consumption peaked at $ in 2009; however, from 2010 to , consumption remained at a lower figure.
In value terms, wool grease production totaled less than $ in estimated in export price. Overall, production saw a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of %. Wool grease production peaked at $ in 2010; however, from 2011 to , production remained at a lower figure.
, the Belgian wool grease market increased by % to $, rising for the second year in a row after five years of decline. In general, consumption recorded a perceptible slump. Wool grease consumption peaked at $ in 2009; however, from 2010 to , consumption remained at a lower figure.In value terms, wool grease production totaled less than $
in estimated in export price. Overall, production saw a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of %. Wool grease production peaked at $ in 2010; however, from 2011 to , production remained at a lower figure.Consumption
In , consumption of wool grease and fatty substances decreased by -% to tons, falling for the seventh year in a row after three years of growth. Overall, consumption showed a abrupt contraction. Wool grease consumption peaked at tons in 2009; however, from 2010 to , consumption remained at a lower figure.
The value of the wool grease market in Belgium expanded remarkably 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). Over the period under review, consumption saw a noticeable shrinkage. Over the period under review, the market reached the peak level at $ in 2009; however, from 2010 to , consumption failed to regain momentum.
, consumption of wool grease and fatty substances decreased by -% to tons, falling for the seventh year in a row after three years of growth. Overall, consumption showed a abrupt contraction. Wool grease consumption peaked at tons in 2009; however, from 2010 to , consumption remained at a lower figure.The value of the wool grease market in Belgium expanded remarkably 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). Over the period under review, consumption saw a noticeable shrinkage. Over the period under review, the market reached the peak level at $ in 2009; however, from 2010 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for wool grease in Belgium, the market is expected to continue its downward consumption trend over the next eight years. 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 .
% 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 Belgium consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, Belgium relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand. The growth in the share of Belgium imports of in the wool grease market structure from % in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports.
% in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports.Trade Balance
Belgium remains a net exporter of wool grease; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a trade surplus of tons, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
. In , there was a trade surplus of tons, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
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