Myanmar: Textile Wadding Market 2024

Textile Wadding Market Size in Myanmar

The Myanmar's textile wadding market was finally on the rise to reach $X in 2022, after five years of decline. Over the period under review, consumption, however, recorded a noticeable setback. Textile wadding consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Textile Wadding Production in Myanmar

In value terms, textile wadding production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when the production volume increased by 82%. Textile wadding production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Textile Wadding Exports

Exports from Myanmar

Textile wadding exports from Myanmar soared to X tons in 2022, jumping by 424% against the year before. Over the period under review, exports posted a perceptible increase. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, textile wadding exports skyrocketed to $X in 2022. In general, exports posted a temperate increase. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), South Korea (X kg) and Vietnam (X kg) were the main destinations of textile wadding exports from Myanmar, together accounting for 81% of total exports. Japan, China and Singapore lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +63.4%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), India ($X) and Japan ($X) were the largest markets for textile wadding exported from Myanmar worldwide, together comprising 79% of total exports. Vietnam, China and Singapore lagged somewhat behind, together comprising a further 12%.

In terms of the main countries of destination, Singapore, with a CAGR of +65.3%, saw the highest rates of growth with regard to 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

In 2022, the average textile wadding export price amounted to $X per ton, growing by 44% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Japan (+35.1%), while the prices for the other major destinations experienced mixed trend patterns.

Textile Wadding Imports

Imports into Myanmar

In 2022, purchases abroad of wadding of textile materials and articles thereof was finally on the rise to reach X tons after two years of decline. Overall, imports recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 505% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, textile wadding imports skyrocketed to $X in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 570% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest textile wadding supplier to Myanmar, accounting for a 80% share of total imports. Moreover, textile wadding imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), more than tenfold. Thailand (X tons) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +209.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+113.7% per year) and Thailand (+62.3% per year).

In value terms, China ($X) constituted the largest supplier of wadding of textile materials and articles thereof to Myanmar, comprising 61% of total imports. The second position in the ranking was held by the Philippines ($X), with a 22% share of total imports. It was followed by Japan, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +146.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+104.5% per year) and Japan (+70.4% per year).

Import Prices by Country

In 2022, the average textile wadding import price amounted to $X per ton, which is down by -29.3% against the previous year. In general, the import price faced a deep contraction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 15% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+75.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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