United Kingdom: Wadding Market 2024

Wadding Market Size in the UK

In 2021, after three years of growth, there was decline in the UK wadding market, when its value decreased by -1.6% to $X. Overall, consumption, however, saw a strong expansion. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced modestly in the following year.

Wadding Production in the UK

In value terms, wadding production totaled $X in 2021 estimated in export price. In general, production saw a perceptible slump. The pace of growth was the most pronounced in 2019 with an increase of 160% against the previous year. Wadding production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Wadding Exports

Exports from the UK

In 2021, the amount of wadding exported from the UK fell rapidly to X tons, with a decrease of -45.1% against the previous year. In general, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by 65%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, wadding exports reduced markedly to $X in 2021. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 26%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for wadding exports from the UK, accounting for a 48% share of total exports. Moreover, wadding exports to the Netherlands exceeded the volume sent to the second major destination, Ireland (X tons), threefold. Finland (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands totaled +37.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-1.3% per year) and Finland (+123.8% per year).

In value terms, the Netherlands ($X) remains the key foreign market for wadding exports from the UK, comprising 50% of total exports. The second position in the ranking was held by Ireland ($X), with an 11% share of total exports. It was followed by Germany, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands amounted to +37.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-2.4% per year) and Germany (-9.7% per year).

Export Prices by Country

In 2021, the average wadding export price amounted to $X per ton, increasing by 53% against the previous year. Over the period under review, the export price, however, saw a slight decrease. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Finland ($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 Bulgaria (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Wadding Imports

Imports into the UK

In 2021, wadding imports into the UK fell rapidly to X tons, which is down by -21.8% against 2020. In general, total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 17% against the previous year. As a result, imports reached the peak of X tons, and then declined markedly in the following year.

In value terms, wadding imports dropped dramatically to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.1% against 2015 indices. The pace of growth was the most pronounced in 2020 with an increase of 45% against the previous year. As a result, imports attained the peak of $X, and then reduced notably in the following year.

Imports by Country

China (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of wadding imports to the UK, with a combined 49% share of total imports. India, Austria, the Netherlands, Hungary, Bulgaria, Germany, France, Portugal, Poland and Greece lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +195.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wadding suppliers to the UK were Austria ($X), Italy ($X) and China ($X), together accounting for 54% of total imports. Turkey, Hungary, India, the Netherlands, Bulgaria, Germany, France, Portugal, Poland and Greece lagged somewhat behind, together accounting for a further 33%.

Bulgaria, with a CAGR of +123.9%, saw the highest growth rate of the value of imports, in terms of 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 wadding import price stood at $X per ton in 2021, surging by 6.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 24%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform