Mexico: Textile Wadding Market 2024

Textile Wadding Market Size in Mexico

The Mexican textile wadding market shrank slightly to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, recorded a perceptible reduction. Textile wadding consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Textile Wadding Production in Mexico

In value terms, textile wadding production reduced modestly to $X in 2022 estimated in export price. In general, production, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 3.5%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Textile Wadding Exports

Exports from Mexico

For the seventh consecutive year, Mexico recorded growth in shipments abroad of wadding of textile materials and articles thereof, which increased by 15% to X tons in 2022. Over the period under review, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2020 when exports increased by 34% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, textile wadding exports soared to $X in 2022. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 71%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for textile wadding exports from Mexico, accounting for a 95% share of total exports. It was followed by Canada (X tons), with a 2.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +13.1%.

In value terms, the United States ($X) remains the key foreign market for wadding of textile materials and articles thereof exports from Mexico, comprising 95% of total exports. The second position in the ranking was taken by Canada ($X), with a 2.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +23.7%.

Export Prices by Country

The average textile wadding export price stood at $X per ton in 2022, increasing by 3% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, textile wadding export price decreased by -1.4% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 40% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+13.7%), while the prices for the other major destinations experienced mixed trend patterns.

Textile Wadding Imports

Imports into Mexico

In 2022, approx. X tons of wadding of textile materials and articles thereof were imported into Mexico; surging by 12% against the previous year. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 41%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, textile wadding imports soared to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.6% against 2016 indices. The pace of growth appeared the most rapid in 2019 with an increase of 30%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), China (X tons) and Germany (X tons) were the main suppliers of textile wadding imports to Mexico, with a combined 93% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +9.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest textile wadding suppliers to Mexico were the United States ($X), China ($X) and Germany ($X), with a combined 84% share of total imports.

China, with a CAGR of +14.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average textile wadding import price stood at $X per ton in 2022, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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