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Global trade in wool & animal hair growing at 13%

18
Dec '19
Pic: Shutterstock
Pic: Shutterstock
The global trade of wool and animal hair has been growing with a high CAGR (compound annual growth rate) of 13.37 per cent from 2016, according to data from TexPro. In terms of value, the global trade of wool and animal hair was $3,995.02 million in 2016, which increased to $5,134.30 million in 2018, registering a growth rate of 28.52 per cent.

The total wool and animal hair trade gained by 16.87 per cent in 2018 over the previous year, and is anticipated to reach $7,484.56 million in 2021 with a CAGR of 11.42 per cent from 2018, according to Fibre2Fashion's market analysis tool TexPro.

In terms of value, the global exports of wool and animal hair was $1,942.23 million in 2016, which jumped to $2,451.97 million in 2018 with a growth rate of 26.24 per cent. Total exports of wool and animal hair moved up by 14.44 per cent in 2018 over the previous year, and is expected to reach $3,478.03 million in 2021 with a CAGR of 12.36 per cent from 2018.

In terms of volume, the global exports of wool and animal hair was 396.73 thousand tonnes in 2016, which dropped by 3.53 per cent to 382.71 thousand tonnes in 2018. Total exports of wool and animal hair rose by 0.32 per cent in 2018 over the wool and animal hair export in 2017. It is expected to decline to 362.61 thousand tonnes in 2021 with a CAGR of 1.78 per cent from 2018.

In 2018, Chile (201.97 thousand tonnes), China (52.02 thousand tonnes), Italy (23.64 thousand tonnes), the UK (21.75 thousand tonnes) and the Czech Republic (18.13 thousand tonnes) were the key exporters of wool and animal hair across the globe, together comprising 82.96 per cent of total exports. These were distantly followed by Uruguay (13.39 thousand tonnes), Germany (9.69 thousand tonnes), Argentina (9.42 thousand tonnes), Bulgaria (5.67 thousand tonnes) and Peru (4.68 thousand tonnes).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by the UK (234.55 per cent) and Italy (114.31 per cent).

In value terms, China ($882.20 million), Italy ($400.74 million), Czech Republic ($258.80 million), Germany ($143.27 million), Uruguay ($126.46 million) and Argentina ($52.72 million) were the key exporters of wool and animal hair across the globe in 2018, together comprising 78.26 per cent of total export. These were followed by Peru (US$ 91.35 million), UK (US$ 89.10 million), Bulgaria (US$ 76.32 million) and South Africa (US$ 65.77 million).

From 2013 to 2018, the most notable rate of growth in terms of export, amongst the main exporting countries, was attained by Italy (157.40 per cent) and the Czech Republic (27.51 per cent).

Fibre2Fashion News Desk (RKS)


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