What is Wool Worsted Yarn?
Wool worsted yarn is used in various applications such as apparel (blazers, jacketing, Others), blankets, among others. Countries such as Australia, China, United States and New Zealand are the world's top wool-producing countries. For instance, According to worldatlas, in 2016, the United States produced more than 25.7 million pounds of wool. In addition, it was also found that major top wool-producing states are California, Utah, Texas, Colorado, and Wyoming. While the United States produces more than 17% of the world's wool. Hence, it will drive the market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Yünsa (Turkey), Tollegno 1900 (Italy), Suedwolle Group (Germany), Boyner Sanayi A.S. (Turkey), Zegna Baruffa Lane Borgosesia (Italy), The Fibre Co (United Kingdom), Di.Vé (Italy), E.Miroglio (Bulgaria), Schoeller Textil AG (Switzerland) and Transilana (Romania) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Tropical Worsted Wool and Plain Weave Worsted Wool) , by application (Apparel {Blazers, Jacketing, Others}, Blankets and Others) and major geographies. Research Analyst at AMA predicts that Italy Vendors will contribute to the maximum growth of Global Wool Worsted Yarn market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Wool Worsted Yarn market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Yünsa (Turkey), Tollegno 1900 (Italy), Suedwolle Group (Germany), Boyner Sanayi A.S. (Turkey), Zegna Baruffa Lane Borgosesia (Italy), The Fibre Co (United Kingdom), Di.Vé (Italy), E.Miroglio (Bulgaria), Schoeller Textil AG (Switzerland) and Transilana (Romania).
Market Overview:
In July 2022, Indorama Ventures Public Company Limited (IVL), a renowned global sustainable chemical company, acquired Tollegno 1900 SpA's wool spinning businesses located in Italy and Poland. This strategic move enables IVL to expand its portfolio with a broader range of sustainable products.
The global wool worsted yarn market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Influencing Trend:
Increasing Number of Customer from Online Channel
Market Growth Drivers:
In the last few years, there is a significant demand for wool production. For instance, according to the International Wool Textile Organisation, in 2018, more than 1.155 million kg of clean raw wool is produced by approximately 1.177 billion sheep around the world. Hence, the rising demand for wool production will propel market growth.
Challenges:
Sheep health & disease, and prices of raw materials and finished textile products are some of the major challenges of wool worsted yarn.
Restraints:
Acrylic Can Be Used as a Substitute for Wool, As It is a Lightweight & Soft.
Opportunities:
There is a high production for wool worsted yarn in emerging markets such as China. For instance, as per an article published by worldatlas, China produces more than 18% of the world's wool in the textile & clothing industries. Moreover, it is found that, China is currently the world's largest as well as 2nd largest exporter of clothing & textiles respectively. Hence, the rising demand for wool production will create an opportunity for market expansion.
Key highlights of the Global Wool Worsted Yarn market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Wool Worsted Yarn market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Wool Worsted Yarn market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Wool Worsted Yarn Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Wool Worsted Yarn market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Wool Worsted Yarn market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Wool Worsted Yarn Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.