Paraguay: Textile Wadding Market 2024

Textile Wadding Market Size in Paraguay

In 2022, the Paraguayan textile wadding market was finally on the rise to reach $X after two years of decline. Overall, consumption recorded a strong increase. 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 Paraguay

In value terms, textile wadding production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 38%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Textile Wadding Exports

Exports from Paraguay

In 2022, overseas shipments of wadding of textile materials and articles thereof decreased by -28% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2019 with an increase of 54%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, textile wadding exports contracted to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 48% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Brazil (X tons), Argentina (X tons) and Uruguay (X tons) were the main destinations of textile wadding exports from Paraguay, with a combined 92% share of total exports. Chile and Mexico lagged somewhat behind, together comprising a further 6.2%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +23.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and Uruguay ($X) were the largest markets for textile wadding exported from Paraguay worldwide, together comprising 85% of total exports. Mexico and Chile lagged somewhat behind, together accounting for a further 13%.

Mexico, with a CAGR of +45.7%, recorded the highest rates of growth with regard to 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

In 2022, the average textile wadding export price amounted to $X per ton, picking up by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Brazil ($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 Mexico (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Textile Wadding Imports

Imports into Paraguay

In 2022, purchases abroad of wadding of textile materials and articles thereof increased by 58% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports showed a notable expansion. The most prominent rate of growth was recorded in 2016 with an increase of 82% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, textile wadding imports totaled $X in 2022. Overall, imports continue to indicate tangible growth. The pace of growth was the most pronounced in 2017 when imports increased by 79%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of textile wadding to Paraguay, with a 68% share of total imports. Moreover, textile wadding imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. Uruguay (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+17.0% per year) and Uruguay (+3.6% per year).

In value terms, Brazil ($X), China ($X) and Argentina ($X) were the largest textile wadding suppliers to Paraguay, together accounting for 92% of total imports.

Among the main suppliers, Brazil, with a CAGR of +12.6%, saw the highest rates of growth with regard to the value of imports, 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, reducing by -28.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 44%. The import price peaked at $X per ton in 2021, and then contracted significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform