The polymeric fibre used as a substitute for wool in making synthetic blankets, sweaters, etc, is:

Orlon is a synthetic acrylic fibre made from polyacrylonitrile (PAN) [t1][t5]. It is widely used as a substitute for wool because it possesses a wool-like feel, warmth, and softness [t2][t3]. Developed by DuPont in 1941, Orlon is manufactured by spinning polyacrylonitrile into filaments that are then cut into staple lengths similar to wool hairs [t5][t6]. Due to its excellent heat retention and durability, it is the primary material for synthetic blankets, sweaters, and hand-knitting yarns [t5][t6]. In contrast, nylon is a different synthetic fibre used for textiles but lacks the specific wool-like texture of acrylics [c1]. Teflon (polytetrafluoroethylene) is a non-stick fluoropolymer used for cookware and industrial gaskets [t4], while Bakelite is a thermosetting phenol-formaldehyde resin used for electrical insulators and molded parts, not as a textile fibre [t4].

Sources

1. [1] https://pmc.ncbi.nlm.nih.gov/articles/PMC11314402/
2. [2] https://www.sciencedirect.com/topics/engineering/acrylic-fiber
3. [3] https://en.wikipedia.org/wiki/Acrylic_fiber
4. [4] Certificate Physical and Human Geography , GC Leong (Oxford University press 3rd ed.) > Chapter 28: Manufacturing Industry and The Iron and Steel Industry > Groups of Industries > p. 279