South-Eastern Asia: Wadding Market 2024

Wadding Market Size in South-Eastern Asia

The Southeast Asian wadding market rose rapidly to $X in 2021, picking up by 8.6% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Wadding Production in South-Eastern Asia

In value terms, wadding production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 20%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Wadding Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of wadding increased by 16% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 20%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, wadding exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 26% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Thailand (X tons) represented the largest exporter of wadding, comprising 37% of total exports. Malaysia (X tons) took a 19% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (18%), Indonesia (14%) and Singapore (7.8%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Malaysia (with a CAGR of +24.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest wadding supplying countries in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Vietnam ($X), together comprising 79% of total exports. These countries were followed by Singapore, the Philippines and Malaysia, which together accounted for a further 21%.

Among the main exporting countries, the Philippines, with a CAGR of +23.5%, 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

The export price in South-Eastern Asia stood at $X per ton in 2021, falling by -9% against the previous year. In general, the export price showed a perceptible decline. The most prominent rate of growth was recorded in 2013 when the export price increased by 5%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Wadding Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of wadding decreased by -13.7% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -17.2% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 25%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, wadding imports shrank modestly to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.1% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 24% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Myanmar (X tons), the Philippines (X tons), Indonesia (X tons), Singapore (X tons), Thailand (X tons), Malaysia (X tons) and Cambodia (X tons) represented roughly 99% of total imports in 2021.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 62% of total imports. Myanmar, Singapore, Thailand, Malaysia and Cambodia lagged somewhat behind, together accounting for a further 37%.

Myanmar, with a CAGR of +18.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, with an increase of 11% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform