Ecuador: Textile Wadding Market 2024

Textile Wadding Market Size in Ecuador

The Ecuadorian textile wadding market rose significantly to $X in 2022, with an increase of 8% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.9% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Textile Wadding Production in Ecuador

In value terms, textile wadding production expanded modestly to $X in 2022 estimated in export price. Overall, production enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 36% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Textile Wadding Exports

Exports from Ecuador

In 2022, the amount of wadding of textile materials and articles thereof exported from Ecuador shrank remarkably to X tons, reducing by -32.8% compared with the previous year's figure. Over the period under review, exports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 7,434%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, textile wadding exports declined significantly to $X in 2022. Overall, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2018 when exports increased by 4,737% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X tons), Panama (X kg) and Venezuela (X kg) were the main destinations of textile wadding exports from Ecuador, with a combined 77% share of total exports. Peru and the United States lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +83.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X) remains the key foreign market for wadding of textile materials and articles thereof exports from Ecuador, comprising 79% of total exports. The second position in the ranking was taken by Panama ($X), with an 8% share of total exports. It was followed by Peru, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value to Venezuela amounted to -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-14.7% per year) and Peru (-16.4% per year).

Export Prices by Country

The average textile wadding export price stood at $X per ton in 2022, waning by -9.8% against the previous year. In general, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2016 an increase of 119% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (-2.4%), while the prices for the other major destinations experienced a decline.

Textile Wadding Imports

Imports into Ecuador

In 2022, the amount of wadding of textile materials and articles thereof imported into Ecuador skyrocketed to X tons, picking up by 35% on the previous year. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 111%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, textile wadding imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 102% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of textile wadding to Ecuador, accounting for a 55% share of total imports. Moreover, textile wadding imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. The third position in this ranking was taken by Peru (X tons), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +30.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+27.7% per year) and Peru (-5.2% per year).

In value terms, China ($X), the Netherlands ($X) and Belgium ($X) constituted the largest textile wadding suppliers to Ecuador, with a combined 66% share of total imports. France, Brazil, Peru, Colombia, Italy, the United States, Poland and Israel lagged somewhat behind, together accounting for a further 30%.

Poland, with a CAGR of +56.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average textile wadding import price amounted to $X per ton, flattening at the previous year. Overall, the import price continues to indicate a pronounced descent. The growth pace was the most rapid in 2018 when the average import price increased by 18% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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