U.S.: Woolen Yarn Market 2024

Woolen Yarn Market Size in the U.S.

In 2021, after two years of decline, there was significant growth in the U.S. woolen yarn market, when its value increased by 34% to $X. Overall, consumption, however, recorded a perceptible reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Woolen Yarn Production in the U.S.

In value terms, woolen yarn production reached $X in 2021. Overall, production, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2017 with an increase of 12% against the previous year. Woolen yarn production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Woolen Yarn Exports

Exports from the U.S.

In 2021, shipments abroad of yarn of wool was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, recorded a perceptible contraction. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, woolen yarn exports soared to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons), Costa Rica (X tons) and Panama (X tons) were the main destinations of woolen yarn exports from the United States, together accounting for 70% of total exports. These countries were followed by Thailand, Mexico, Sri Lanka and the UK, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Sri Lanka (with a CAGR of +1,675.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Costa Rica ($X) and Panama ($X) constituted the largest markets for woolen yarn exported from the United States worldwide, with a combined 62% share of total exports. These countries were followed by the UK, Mexico, Thailand and Sri Lanka, which together accounted for a further 19%.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +1,001.6%, saw the highest rates of growth with regard to 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 yarn export price stood at $X per ton in 2021, which is down by -9.8% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 an increase of 24% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into the U.S.

In 2021, supplies from abroad of yarn of wool was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports recorded a relatively flat trend pattern. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, woolen yarn imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Peru (X tons), Canada (X tons) and the UK (X tons) were the main suppliers of woolen yarn imports to the United States, with a combined 39% share of total imports. Turkey, India, Portugal, Denmark, Italy, Romania, Mexico, Vietnam, China and New Zealand lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +252.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) constituted the largest supplier of yarn of wool to the United States, comprising 28% of total imports. The second position in the ranking was taken by Canada ($X), with a 12% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Peru amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-0.2% per year) and Italy (-6.5% per year).

Import Prices by Country

In 2021, the average woolen yarn import price amounted to $X per ton, approximately mirroring the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 6.2%. As a result, import price reached the peak level of $X per ton, and then contracted slightly in the following year.

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 Italy ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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