Textile Wadding Market

The global market for wadding of textile materials and articles thereof is projected to see continued growth in consumption over the next eight years, with market volume expected to reach 2M tons and market value set to reach $12.6B by 2030. Key consuming countries include China, the United States, and Italy. The market performance is forecasted to expand at an anticipated CAGR of +1.7% in volume and +3.8% in value from 2022 to 2030. The article also highlights trends in production, imports, and exports of textile wadding, with detailed insights on key players and growth rates for different countries.

Market Forecast

Driven by increasing demand for wadding of textile materials and articles thereof worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market volume to 2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $12.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wadding of Textile Materials and Articles Thereof

In 2022, approx. 1.7M tons of wadding of textile materials and articles thereof were consumed worldwide; waning by -2% on 2021 figures. The total consumption volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak volume of 1.8M tons. From 2018 to 2022, the growth of the global consumption remained at a lower figure.

The global textile wadding market revenue shrank modestly to $9.4B in 2022, waning by -3.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $9.7B in 2021, and then reduced slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (237K tons), the United States (165K tons) and Italy (104K tons), together comprising 29% of global consumption.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +16.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest textile wadding markets worldwide were China ($1.1B), the United States ($1B) and Italy ($778M), together comprising 31% of the global market.

Among the main consuming countries, Italy, with a CAGR of +13.0%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of textile wadding per capita consumption was registered in Italy (1,753 kg per 1000 persons), followed by France (625 kg per 1000 persons), the UK (516 kg per 1000 persons) and the United States (493 kg per 1000 persons), while the world average per capita consumption of textile wadding was estimated at 221 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the textile wadding per capita consumption in Italy totaled +16.7%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: France (+4.7% per year) and the UK (-0.4% per year).

Production

World Production of Wadding of Textile Materials and Articles Thereof

In 2022, global production of wadding of textile materials and articles thereof contracted to 1.8M tons, with a decrease of -2.3% against the previous year. The total output volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 13%. As a result, production attained the peak volume of 1.8M tons; afterwards, it flattened through to 2022.

In value terms, textile wadding production totaled $9.3B in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 12% against the previous year. Global production peaked at $10.7B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Production By Country

China (308K tons) remains the largest textile wadding producing country worldwide, accounting for 17% of total volume. Moreover, textile wadding production in China exceeded the figures recorded by the second-largest producer, the United States (150K tons), twofold. India (116K tons) ranked third in terms of total production with a 6.6% share.

In China, textile wadding production increased at an average annual rate of +1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+1.9% per year) and India (+1.1% per year).

Imports

World Imports of Wadding of Textile Materials and Articles Thereof

In 2022, the amount of wadding of textile materials and articles thereof imported worldwide rose rapidly to 405K tons, increasing by 11% on the previous year's figure. The total import volume increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 12%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, textile wadding imports rose sharply to $2.8B in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 12%. Over the period under review, global imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Japan (31K tons), the United States (31K tons), France (24K tons), Russia (23K tons), Canada (19K tons), the UK (17K tons), Germany (16K tons), China (12K tons), Vietnam (9K tons), Myanmar (8.4K tons), Spain (7.7K tons) and the Netherlands (7.1K tons) was the largest importer of wadding of textile materials and articles thereof in the world, mixing up 51% of total import. Turkey (7.1K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +100.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($196M), Russia ($156M) and France ($147M) were the countries with the highest levels of imports in 2022, with a combined 18% share of global imports. Japan, China, Germany, the UK, Canada, Vietnam, Turkey, the Netherlands, Spain and Myanmar lagged somewhat behind, together comprising a further 29%.

In terms of the main importing countries, Myanmar, with a CAGR of +78.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average textile wadding import price stood at $6,941 per ton in 2022, declining by -4.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 7%. Global import price peaked at $7,373 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($9,355 per ton), while Myanmar ($2,574 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wadding of Textile Materials and Articles Thereof

For the third year in a row, the global market recorded growth in overseas shipments of wadding of textile materials and articles thereof, which increased by 8.8% to 424K tons in 2022. The total export volume increased at an average annual rate of +3.1% 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 2017 when exports increased by 20%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, textile wadding exports rose to $2.8B in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 8.1%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

In 2022, China (83K tons), distantly followed by Uzbekistan (28K tons), Thailand (28K tons), Turkey (25K tons) and India (21K tons) represented the major exporters of wadding of textile materials and articles thereof, together comprising 44% of total exports. Germany (19K tons), the United States (16K tons), Poland (14K tons), Italy (12K tons), Bulgaria (12K tons), Japan (12K tons), France (12K tons) and the Netherlands (11K tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to textile wadding exports from China stood at +1.7%. At the same time, Thailand (+14.3%), Bulgaria (+13.0%), Turkey (+8.4%), India (+7.3%), Uzbekistan (+3.4%), the United States (+2.5%) and France (+1.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.3% from 2012-2022. Poland and Japan experienced a relatively flat trend pattern. By contrast, Germany (-1.8%), the Netherlands (-3.1%) and Italy (-3.2%) illustrated a downward trend over the same period. While the share of Uzbekistan (+6.6 p.p.), Thailand (+4.2 p.p.), Turkey (+2.4 p.p.), Bulgaria (+1.7 p.p.) and India (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the Netherlands (-2.3 p.p.), Italy (-2.5 p.p.), Germany (-2.8 p.p.) and China (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($498M) remains the largest textile wadding supplier worldwide, comprising 18% of global exports. The second position in the ranking was taken by Thailand ($124M), with a 4.4% share of global exports. It was followed by the United States, with a 4.4% share.

In China, textile wadding exports expanded at an average annual rate of +6.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+9.6% per year) and the United States (+2.0% per year).

Export Prices By Country

The average textile wadding export price stood at $6,569 per ton in 2022, declining by -3.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 8.2%. As a result, the export price reached the peak level of $7,617 per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($9,865 per ton), while Uzbekistan ($1,515 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+13.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform