Northern America: Wool Market 2024

Wool Market Size in Northern America

The North American wool market contracted modestly to $X in 2022, declining by X% against the previous year. Overall, consumption saw a pronounced decline. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Wool Production in Northern America

In value terms, wool production fell to $X in 2022 estimated in export price. In general, production showed a noticeable contraction. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

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Wool Exports

Exports in Northern America

In 2022, overseas shipments of wool were finally on the rise to reach X tons after four years of decline. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, wool exports surged to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2017; afterwards, it flattened through to 2022.

Exports by Country

In 2022, the United States (X tons) was the largest exporter of wool, making up X% of total exports. It was distantly followed by Canada (X tons), creating a X% share of total exports.

The United States was also the fastest-growing in terms of the wool exports, with a CAGR of X% from 2012 to 2022. At the same time, Canada (X%) displayed positive paces of growth. While the share of the United States (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Canada (X p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest wool supplier in Northern America, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.

In the United States, wool exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Wool Imports

Imports in Northern America

In 2022, the amount of wool imported in Northern America dropped to X tons, shrinking by X% against the previous year's figure. Overall, imports recorded a slight decrease. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, wool imports rose remarkably to $X in 2022. Over the period under review, imports recorded a perceptible contraction. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) represented the largest importer of wool, generating X% of total imports. It was distantly followed by Canada (X tons), comprising a X% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of wool. Canada (X%) illustrated a downward trend over the same period. The United States (X p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported wool in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with an X% share of total imports.

In the United States, wool imports plunged by an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, showed a pronounced contraction. The level of import peaked at $X per ton in 2014; however, from 2015 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 the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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