United Kingdom: Woolen Fabric Market 2024

Woolen Fabric Market Size in the UK

In 2021, the UK woolen fabric market increased by 13% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. Woolen fabric consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Woolen Fabric Production in the UK

In value terms, woolen fabric production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 11% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Woolen Fabric Exports

Exports from the UK

In 2021, overseas shipments of woven woolen fabrics decreased by -4.2% to X square meters, falling for the third consecutive year after two years of growth. Overall, exports saw a slight descent. The growth pace was the most rapid in 2018 when exports increased by 36% against the previous year. As a result, the exports reached the peak of X square meters. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, woolen fabric exports contracted modestly to $X in 2021. Over the period under review, exports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2018 with an increase of 12%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Denmark (X square meters), Germany (X square meters) and China (X square meters) were the main destinations of woolen fabric exports from the UK, together comprising 51% of total exports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +21.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), China ($X) and Germany ($X) constituted the largest markets for woolen fabric exported from the UK worldwide, with a combined 37% share of total exports. These countries were followed by Italy, the United States, Japan, Thailand, France, South Korea, Hong Kong SAR, the Philippines and Belgium, which together accounted for a further 42%.

In terms of the main countries of destination, South Korea, with a CAGR of +11.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average woolen fabric export price stood at $X per square meter in 2021, rising by 2.1% against the previous year. Overall, the export price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2019 an increase of 15%. Over the period under review, the average export prices attained the maximum at $X per square meter in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per square meter), while the average price for exports to Thailand ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Fabric Imports

Imports into the UK

In 2021, after two years of decline, there was significant growth in supplies from abroad of woven woolen fabrics, when their volume increased by 7.2% to X square meters. Overall, imports, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2014 when imports increased by 35% against the previous year. Imports peaked at X square meters in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, woolen fabric imports soared to $X in 2021. Over the period under review, imports, however, showed a perceptible descent. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Ireland (X square meters), Denmark (X square meters) and Italy (X square meters) were the main suppliers of woolen fabric imports to the UK, together comprising 57% of total imports.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +37.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest woolen fabric suppliers to the UK were Ireland ($X), Italy ($X) and Denmark ($X), together comprising 67% of total imports.

Ireland, with a CAGR of +34.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average woolen fabric import price amounted to $X per square meter, picking up by 35% against the previous year. In general, import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, woolen fabric import price increased by +108.0% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per square meter), while the price for India ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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