Eastern Asia: Wadding Market 2024

Wadding Market Size in Eastern Asia

In 2021, the East Asian wadding market decreased by -4% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020, and then fell in the following year.

Wadding Production in Eastern Asia

In value terms, wadding production contracted to $X in 2021 estimated in export price. The total output 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 most prominent rate of growth was recorded in 2016 when the production volume increased by 29%. The level of production peaked at $X in 2020, and then reduced in the following year.

Wadding Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of wadding, when their volume increased by 5.3% to X tons. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 32% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, wadding exports expanded remarkably to $X in 2021. The total export value increased at an average annual rate of +4.7% 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 2014 when exports increased by 14%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 81% of total exports in 2021. South Korea (X tons) took the second position in the ranking, followed by Japan (X tons). All these countries together held approx. 15% share of total exports. Hong Kong SAR (X tons) took a minor share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of wadding. At the same time, South Korea (+4.0%) and Japan (+1.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.0% from 2012-2021. By contrast, Hong Kong SAR (-9.5%) illustrated a downward trend over the same period. South Korea (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wadding supplier in Eastern Asia, comprising 64% of total exports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total exports. It was followed by Japan, with a 12% share.

In China, wadding exports increased at an average annual rate of +4.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+11.8% per year) and Japan (+1.4% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, with an increase of 5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2013 when the export price increased by 23%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.1%), while the other leaders experienced more modest paces of growth.

Wadding Imports

Imports in Eastern Asia

In 2021, the amount of wadding imported in Eastern Asia expanded to X tons, increasing by 2.8% compared with the previous year. Over the period under review, imports, however, recorded a mild downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 17% against the previous year. 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, wadding imports expanded rapidly to $X in 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 18% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) represented roughly 75% of total imports in 2021. Taiwan (Chinese) (X tons) took the next position in the ranking, followed by Hong Kong SAR (X tons). All these countries together took approx. 24% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Japan (with a CAGR of +1.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wadding importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined 77% share of total imports.

China, with a CAGR of +3.4%, recorded the highest rates of growth with regard to 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 Eastern Asia amounted to $X per ton, surging by 4.9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2020 when the import price increased by 19%. The level of import peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform