Global Wadding Market to Reach $20.1B by 2030, with 1.9% CAGR

IndexBox has just published a new report: World - Wadding Of Textile Materials And Articles Thereof - Market Analysis, Forecast, Size, Trends and Insights.

The global market for wadding of textile materials is expected to see steady growth, reaching 2.8M tons in volume and $20.1B in value by the end of 2030. This growth is driven by rising demand and a positive market performance trend, making it an area of interest for investors and industry stakeholders.

Market Forecast

Driven by increasing demand for wadding of textile materials and articles thereof worldwide, the market is expected to continue an upward consumption trend over the next six years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the period from 2024 to 2030, which is projected to bring the market volume to 2.8M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2024 to 2030, which is projected to bring the market value to $20.1B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Wadding of Textile Materials and Articles Thereof

In 2024, global textile wadding consumption amounted to 2.5M tons, remaining constant against the previous year's figure. The total consumption volume increased at an average annual rate of +2.3% over the period from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Global consumption peaked at 2.6M tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The global textile wadding market revenue reduced to $16.1B in 2024, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.6% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the maximum level at $16.4B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of textile wadding consumption was China (494K tons), comprising approx. 20% of total volume. Moreover, textile wadding consumption in China exceeded the figures recorded by the second-largest consumer, India (205K tons), twofold. The third position in this ranking was taken by the United States (186K tons), with a 7.4% share.

In China, textile wadding consumption increased at an average annual rate of +4.4% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+4.3% per year) and the United States (+2.1% per year).

In value terms, the largest textile wadding markets worldwide were China ($2.2B), the United States ($1.4B) and Italy ($831M), with a combined 28% share of the global market.

In terms of the main consuming countries, Italy, with a CAGR of +9.9%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2024, the highest levels of textile wadding per capita consumption was registered in Italy (1,416 kg per 1000 persons), followed by Russia (605 kg per 1000 persons), Japan (574 kg per 1000 persons) and the United States (550 kg per 1000 persons), while the world average per capita consumption of textile wadding was estimated at 314 kg per 1000 persons.

From 2013 to 2024, the average annual growth rate of the textile wadding per capita consumption in Italy totaled +7.1%. In the other countries, the average annual rates were as follows: Russia (+0.4% per year) and Japan (+0.3% per year).

Production

World Production of Wadding of Textile Materials and Articles Thereof

In 2024, approx. 2.6M tons of wadding of textile materials and articles thereof were produced worldwide; approximately reflecting 2023 figures. The total output volume increased at an average annual rate of +2.5% from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when the production volume increased by 11%. Global production peaked at 2.6M tons in 2022; afterwards, it flattened through to 2024.

In value terms, textile wadding production fell to $16.2B in 2024 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by 17% against the previous year. Global production peaked at $16.6B in 2023, and then shrank modestly in the following year.

Production By Country

China (587K tons) constituted the country with the largest volume of textile wadding production, comprising approx. 23% of total volume. Moreover, textile wadding production in China exceeded the figures recorded by the second-largest producer, India (223K tons), threefold. The third position in this ranking was held by the United States (171K tons), with a 6.7% share.

From 2013 to 2024, the average annual growth rate of volume in China totaled +5.0%. The remaining producing countries recorded the following average annual rates of production growth: India (+4.7% per year) and the United States (+1.5% per year).

Imports

World Imports of Wadding of Textile Materials and Articles Thereof

In 2024, overseas purchases of wadding of textile materials and articles thereof decreased by -9.5% to 371K tons for the first time since 2021, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.9% from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2022 when imports increased by 10%. Over the period under review, global imports reached the maximum at 410K tons in 2023, and then declined in the following year.

In value terms, textile wadding imports contracted to $2.8B in 2024. The total import value increased at an average annual rate of +2.5% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2023 with an increase of 12% against the previous year. As a result, imports attained the peak of $3.1B, and then fell in the following year.

Imports By Country

Japan (29K tons), the United States (28K tons), Russia (19K tons), the UK (16K tons), France (14K tons), Germany (14K tons), Vietnam (12K tons), South Korea (8.5K tons) and China (8.2K tons) represented roughly 40% of total imports in 2024. Spain (7.9K tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Vietnam (with a CAGR of +8.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($169M), Japan ($117M) and Russia ($115M) constituted the countries with the highest levels of imports in 2024, together comprising 14% of global imports. The UK, Germany, France, Vietnam, China, South Korea and Spain lagged somewhat behind, together comprising a further 21%.

Vietnam, with a CAGR of +8.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average textile wadding import price stood at $7,653 per ton in 2024, therefore, remained relatively stable against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2023 when the average import price increased by 6.6%. Over the period under review, average import prices hit record highs in 2024 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was China ($9,102 per ton), while Japan ($3,979 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Spain (+1.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wadding of Textile Materials and Articles Thereof

In 2024, after two years of growth, there was significant decline in overseas shipments of wadding of textile materials and articles thereof, when their volume decreased by -5.9% to 406K tons. The total export volume increased at an average annual rate of +3.2% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 19% against the previous year. Over the period under review, the global exports attained the maximum at 431K tons in 2023, and then shrank in the following year.

In value terms, textile wadding exports shrank to $2.8B in 2024. The total export value increased at an average annual rate of +2.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2023 with an increase of 17%. As a result, the exports reached the peak of $3.2B, and then dropped in the following year.

Exports By Country

China represented the key exporter of wadding of textile materials and articles thereof in the world, with the volume of exports accounting for 101K tons, which was near 25% of total exports in 2024. Uzbekistan (30K tons) ranks second in terms of the total exports with a 7.3% share, followed by Thailand (6.7%), India (6.4%) and Turkey (6.1%). The following exporters - Germany (14K tons), the United States (13K tons), the Netherlands (13K tons), Italy (12K tons) and Poland (11K tons) - each resulted at a 15% share of total exports.

Exports from China increased at an average annual rate of +6.3% from 2013 to 2024. At the same time, Thailand (+11.3%), India (+11.0%), Turkey (+6.9%) and Uzbekistan (+3.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.3% from 2013-2024. The United States experienced a relatively flat trend pattern. By contrast, Italy (-2.0%), the Netherlands (-2.4%), Poland (-3.1%) and Germany (-4.6%) illustrated a downward trend over the same period. Uzbekistan (+7.3 p.p.), China (+6.9 p.p.), Thailand (+3.8 p.p.), India (+3.6 p.p.) and Turkey (+2 p.p.) significantly strengthened its position in terms of the global exports, while the United States, Italy, Poland, the Netherlands and Germany saw its share reduced by -1.7%, -2.2%, -2.6%, -2.6% and -4.6% from 2013 to 2024, respectively.

In value terms, China ($465M) remains the largest textile wadding supplier worldwide, comprising 17% of global exports. The second position in the ranking was taken by the Netherlands ($152M), with a 5.4% share of global exports. It was followed by Thailand, with a 5% share.

In China, textile wadding exports increased at an average annual rate of +5.8% over the period from 2013-2024. In the other countries, the average annual rates were as follows: the Netherlands (-2.1% per year) and Thailand (+7.7% per year).

Export Prices By Country

The average textile wadding export price stood at $6,945 per ton in 2024, dropping by -6.8% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2023 when the average export price increased by 11%. Over the period under review, the average export prices hit record highs at $7,680 per ton in 2013; however, from 2014 to 2024, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($12,083 per ton), while Uzbekistan ($1,672 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Uzbekistan (+11.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform