Malaysia: Quilted Textile Products Market 2024

Quilted Textile Products Market Size in Malaysia

In 2021, the Malaysian quilted textile products market decreased by -5.4% to $X, falling for the second consecutive year after eight years of growth. Overall, consumption, however, saw a resilient expansion. Quilted textile products consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Quilted Textile Products Production in Malaysia

In value terms, quilted textile products production expanded to $X in 2021 estimated in export price. Over the period under review, production enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 60%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Quilted Textile Products Exports

Exports from Malaysia

In 2021, overseas shipments of quilted textile products in the piece (excluding embroidery) increased by 59% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports enjoyed buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 213% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, quilted textile products exports skyrocketed to $X in 2021. In general, exports posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 147% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for quilted textile products exports from Malaysia, with a 67% share of total exports. Moreover, quilted textile products exports to Singapore exceeded the volume sent to the second major destination, Cambodia (X tons), fourfold. The third position in this ranking was taken by Vietnam (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore amounted to +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+30.3% per year) and Vietnam (-0.1% per year).

In value terms, the largest markets for quilted textile products exported from Malaysia were Singapore ($X), Cambodia ($X) and Vietnam ($X), together comprising 87% of total exports.

Cambodia, with a CAGR of +37.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average quilted textile products export price stood at $X per ton in 2021, shrinking by -11.1% against the previous year. Over the period under review, the export price, however, enjoyed a tangible increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 42% against the previous year. The export price peaked at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Australia ($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 Vietnam (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Quilted Textile Products Imports

Imports into Malaysia

In 2021, quilted textile products imports into Malaysia reduced sharply to X tons, waning by -17.2% on the year before. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 464%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, quilted textile products imports fell sharply to $X in 2021. Overall, imports recorded a deep setback. The most prominent rate of growth was recorded in 2017 when imports increased by 633%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest quilted textile products supplier to Malaysia, with a 85% share of total imports. Moreover, quilted textile products imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. The third position in this ranking was taken by Singapore (X tons), with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-9.2% per year) and Singapore (-6.6% per year).

In value terms, China ($X) constituted the largest supplier of quilted textile products in the piece (excluding embroidery) to Malaysia, comprising 62% of total imports. The second position in the ranking was held by Singapore ($X), with a 21% share of total imports. It was followed by Japan, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-3.8% per year) and Japan (-21.1% per year).

Import Prices by Country

The average quilted textile products import price stood at $X per ton in 2021, which is down by -31% against the previous year. Over the period under review, the import price showed a drastic downturn. The pace of growth appeared the most rapid in 2015 an increase of 71% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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