Asia-Pacific: Textile Wadding Market 2022

Textile Wadding Market Size in Asia-Pacific

In 2021, the Asia-Pacific textile wadding market decreased by -0.1% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Textile Wadding Production in Asia-Pacific

In value terms, textile wadding production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 24% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Textile Wadding Exports

Exports in Asia-Pacific

In 2021, shipments abroad of wadding of textile materials and articles thereof was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 32%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, textile wadding exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; 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 14% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, China (X tons) represented the largest exporter of wadding of textile materials and articles thereof, comprising 44% of total exports. Thailand (X tons) ranks second in terms of the total exports with a 14% share, followed by India (11%), Japan (9%) and South Korea (5.9%). The following exporters - Vietnam (X tons) and Indonesia (X tons) - each resulted at an 8.3% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of wadding of textile materials and articles thereof. At the same time, Thailand (+13.4%), Vietnam (+10.4%), India (+6.3%), South Korea (+4.7%) and Japan (+1.5%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +13.4% from 2012-2021. Indonesia experienced a relatively flat trend pattern. Thailand (+8.4 p.p.), India (+3.1 p.p.) and Vietnam (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -9.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest textile wadding supplier in Asia-Pacific, comprising 41% of total exports. The second position in the ranking was taken by Japan ($X), with a 15% share of total exports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +4.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+0.8% per year) and South Korea (+11.3% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, rising by 2.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2013 when the export price increased by 16%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.3%), while the other leaders experienced mixed trends in the export price figures.

Textile Wadding Imports

Imports in Asia-Pacific

Textile wadding imports reduced to X tons in 2021, shrinking by -3.3% against the previous year. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 24%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, textile wadding imports reached $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 14% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Japan (X tons), distantly followed by China (X tons), South Korea (X tons), India (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), Democratic People's Republic of Korea (X tons) and Hong Kong SAR (X tons) represented the main importers of wadding of textile materials and articles thereof, together creating 73% of total imports. The Philippines (X tons), Thailand (X tons), Australia (X tons), Indonesia (X tons) and Singapore (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +13.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, together comprising 49% of total imports. These countries were followed by India, Vietnam, Taiwan (Chinese), Indonesia, Hong Kong SAR, Thailand, the Philippines, Australia, Singapore and Democratic People's Republic of Korea, which together accounted for a further 44%.

Indonesia, with a CAGR of +13.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, with an increase of 10% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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