Guatemala: Textile Wadding Market 2024

Textile Wadding Market Size in Guatemala

The Guatemalan textile wadding market contracted modestly to $X in 2022, reducing by -3.1% against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.8% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Textile Wadding Production in Guatemala

In value terms, textile wadding production contracted modestly to $X in 2022 estimated in export price. In general, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 73% against the previous year. Textile wadding production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Textile Wadding Exports

Exports from Guatemala

In 2022, approx. X tons of wadding of textile materials and articles thereof were exported from Guatemala; picking up by 4.4% compared with the previous year. Overall, exports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, textile wadding exports surged to $X in 2022. In general, exports, however, showed a slight downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 66%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Costa Rica (X tons), El Salvador (X tons) and Honduras (X tons) were the main destinations of textile wadding exports from Guatemala, together accounting for 94% of total exports. Nicaragua lagged somewhat behind, accounting for a further 5.7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of +49.3%), while the other leaders experienced mixed trend patterns.

In value terms, Costa Rica ($X), El Salvador ($X) and Honduras ($X) were the largest markets for textile wadding exported from Guatemala worldwide, together comprising 95% of total exports. Nicaragua lagged somewhat behind, accounting for a further 5.2%.

In terms of the main countries of destination, Nicaragua, with a CAGR of +51.0%, saw the highest growth rate of 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

The average textile wadding export price stood at $X per ton in 2022, growing by 16% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2015; afterwards, it flattened through to 2022.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Costa Rica ($X per ton) and El Salvador ($X per ton), while the average price for exports to Honduras ($X per ton) and Nicaragua ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Textile Wadding Imports

Imports into Guatemala

In 2022, approx. X tons of wadding of textile materials and articles thereof were imported into Guatemala; growing by 6.3% against the previous year. In general, imports, however, recorded a pronounced descent. The growth pace was the most rapid in 2015 when imports increased by 115%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, textile wadding imports fell to $X in 2022. Overall, imports, however, continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by 38% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of textile wadding to Guatemala, accounting for a 64% share of total imports. Moreover, textile wadding imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+7.9% per year) and the United States (-7.8% per year).

In value terms, Mexico ($X) constituted the largest supplier of wadding of textile materials and articles thereof to Guatemala, comprising 63% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports. It was followed by the United States, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from Mexico amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.0% per year) and the United States (-10.4% per year).

Import Prices by Country

The average textile wadding import price stood at $X per ton in 2022, shrinking by -15.2% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, textile wadding import price increased by +11.7% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 47% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+37.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform