Asia: Textile Wadding Market 2022

Textile Wadding Market Size in Asia

In 2021, the Asian textile wadding market decreased by -0.6% to $X, falling for the second consecutive year after five years of growth. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 -3.0% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Textile Wadding Production in Asia

In value terms, textile wadding production amounted to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 22%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Textile Wadding Exports

Exports in Asia

In 2021, overseas shipments of wadding of textile materials and articles thereof increased by 5.2% to 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 +2.9% 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 2017 when exports increased by 26%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, textile wadding exports stood at $X in 2021. The total export value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 13%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

China was the largest exporter of wadding of textile materials and articles thereof in Asia, with the volume of exports amounting to X tons, which was approx. 37% of total exports in 2021. It was distantly followed by Thailand (X tons), Turkey (X tons), India (X tons), Japan (X tons) and South Korea (X tons), together creating a 44% share of total exports. Vietnam (X tons) and Uzbekistan (X tons) followed a long way behind the leaders.

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, Uzbekistan (+21.6%), Thailand (+13.4%), Vietnam (+10.4%), India (+6.3%), Turkey (+5.8%), South Korea (+4.7%) and Japan (+1.5%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +21.6% from 2012-2021. From 2012 to 2021, the share of Thailand, Uzbekistan, India, Turkey and Vietnam increased by +7, +2.6, +2.4, +2.2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest textile wadding supplier in Asia, comprising 36% of total exports. The second position in the ranking was held by Japan ($X), with a 13% share of total exports. It was followed by South Korea, with an 11% share.

In China, textile wadding exports increased at an average annual rate of +4.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+0.8% per year) and South Korea (+11.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, picking up by 2.8% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 an increase of 14%. 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

In 2021, textile wadding imports in Asia declined modestly to X tons, flattening at 2020 figures. Total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 26%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, textile wadding imports amounted to $X in 2021. The total import value increased at an average annual rate of +3.7% 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 with an increase of 12% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Japan (X tons), distantly followed by China (X tons), South Korea (X tons), Kazakhstan (X tons) and Kyrgyzstan (X tons) were the key importers of wadding of textile materials and articles thereof, together making up 43% of total imports. The following importers - India (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), Iran (X tons), Turkey (X tons), Democratic People's Republic of Korea (X tons), Hong Kong SAR (X tons) and the Philippines (X tons) - together made up 31% 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 Kyrgyzstan (with a CAGR of +22.5%), 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 38% of total imports. These countries were followed by India, Turkey, Vietnam, Taiwan (Chinese), Iran, Hong Kong SAR, the Philippines, Kazakhstan, Democratic People's Republic of Korea and Kyrgyzstan, which together accounted for a further 33%.

Among the main importing countries, Iran, with a CAGR of +25.2%, saw the highest rates of growth with regard to the value of imports, 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 amounted to $X per ton, surging by 6.6% 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 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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