China: Wadding Market 2024

Wadding Market Size in China

In 2021, after three years of growth, there was decline in the Chinese wadding market, when its value decreased by -2.9% to $X. The market value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020, and then reduced in the following year.

Wadding Production in China

In value terms, wadding production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period 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 2016 with an increase of 23%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2021.

Wadding Exports

Exports from China

In 2021, after three years of decline, there was significant growth in overseas shipments of wadding, when their volume increased by 8.1% to X tons. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 35%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, wadding exports soared to $X in 2021. The total export value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons), the United States (X tons) and Japan (X tons) were the main destinations of wadding exports from China, together comprising 32% of total exports. South Korea, the Philippines, Australia, Bangladesh, Cambodia, Malaysia, Mexico, the UK, Thailand and Indonesia lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +29.2%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), the United States ($X) and South Korea ($X) were the largest markets for wadding exported from China worldwide, together accounting for 30% of total exports. These countries were followed by Japan, the Philippines, Malaysia, the UK, Australia, Thailand, Cambodia, Indonesia, Bangladesh and Mexico, which together accounted for a further 29%.

Among the main countries of destination, the Philippines, with a CAGR of +33.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wadding export price amounted to $X per ton, picking up by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 28%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wadding Imports

Imports into China

In 2021, purchases abroad of wadding decreased by -1.4% to X tons, falling for the third year in a row after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 33% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, wadding imports declined modestly to $X in 2021. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.4% 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 -11.9% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 54% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of wadding imports to China, with a combined 60% share of total imports. These countries were followed by Thailand, Italy, the United States, Taiwan (Chinese), South Korea, Pakistan, Lithuania, the UK and Hong Kong SAR, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +649.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and Indonesia ($X) appeared to be the largest wadding suppliers to China, together comprising 56% of total imports. Italy, the United States, Thailand, Lithuania, South Korea, Taiwan (Chinese), the UK, Hong Kong SAR and Pakistan lagged somewhat behind, together comprising a further 39%.

In terms of the main suppliers, Lithuania, with a CAGR of +813.0%, 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

The average wadding import price stood at $X per ton in 2021, declining by -3.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2017 an increase of 16%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Lithuania ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform