Asia: Wool Market 2025

Wool Market Size in Asia

In 2022, the Asian wool market increased by 5.4% to $X, rising for the second year in a row after four years of decline. Overall, consumption, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2016 with an increase of 9.7%. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Wool Production in Asia

In value terms, wool production dropped modestly to $X in 2022 estimated in export price. Overall, production saw a noticeable reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Wool Exports

Exports in Asia

In 2022, the amount of wool exported in Asia contracted dramatically to X tons, with a decrease of -17.9% compared with 2021 figures. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 33% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, wool exports reduced dramatically to $X in 2022. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 17%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Turkey (X tons) and Syrian Arab Republic (X tons) were the main exporters of wool in Asia, together making up 52% of total exports. China (X tons) took the next position in the ranking, distantly followed by Turkmenistan (X tons), Uzbekistan (X tons) and the United Arab Emirates (X tons). All these countries together held approx. 31% share of total exports. Saudi Arabia (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +36.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Syrian Arab Republic ($X) constituted the countries with the highest levels of exports in 2022, with a combined 76% share of total exports. Turkmenistan, Uzbekistan, the United Arab Emirates and Saudi Arabia lagged somewhat behind, together accounting for a further 9.7%.

Uzbekistan, with a CAGR of +44.8%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, which is down by -1.8% against the previous year. Overall, the export price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2019 an increase of 3.7% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+6.1%), while the other leaders experienced a decline in the export price figures.

Wool Imports

Imports in Asia

In 2022, purchases abroad of wool increased by 3.3% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 19%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, wool imports reached $X in 2022. Overall, imports, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons) and India (X tons) prevails in imports structure, together creating 80% of total imports. South Korea (X tons), Malaysia (X tons), Thailand (X tons), Japan (X tons) and Nepal (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +17.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined 62% share of total imports. Malaysia, Thailand, Japan and Nepal lagged somewhat behind, together comprising a further 28%.

Thailand, with a CAGR of +26.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2019 when the import price increased by 5.4%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Malaysia ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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