Actually refers to fiber length, but is casually used to refer to silk fabric made from short fibers. The fabric is slightly rough to the touch and may have specks of irregularities of fiber that add to its appeal.
Noil is the short fiber left over from combing wool or spinning silk. Silk noil is also called "raw silk", although that is a misnomer. As noil is a relatively short fiber, fabric made from noil is weaker and considered less valuable.