Wadding Market

The article provides a comprehensive analysis of the global wadding market, highlighting trends from 2012 to 2030. It covers key metrics such as consumption, production, imports, and exports, with detailed insights on major countries and their growth rates. Market performance is forecasted to grow steadily, with consumption expected to reach 2.6M tons and a market value of $18.1B by 2030. China leads both in consumption and production, while countries like the United States, India, and Japan also play significant roles in the market. With increasing demand worldwide, the wadding market is predicted to continue its upward trend in the coming years.

Market Forecast

Driven by increasing demand for wadding worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 2.6M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $18.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wadding

In 2022, global consumption of wadding reduced to 2.2M tons, with a decrease of -2.2% compared with 2021 figures. The total consumption volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 2.3M tons in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global wadding market revenue fell modestly to $12.6B in 2022, remaining relatively unchanged 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). The market value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $13.1B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

China (386K tons) constituted the country with the largest volume of wadding consumption, comprising approx. 17% of total volume. Moreover, wadding consumption in China exceeded the figures recorded by the second-largest consumer, the United States (175K tons), twofold. The third position in this ranking was taken by India (144K tons), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +2.9%. In the other countries, the average annual rates were as follows: the United States (+2.9% per year) and India (+6.3% per year).

In value terms, the largest wadding markets worldwide were China ($1.7B), Japan ($910M) and the United States ($848M), together accounting for 27% of the global market. Brazil, Indonesia, India, South Korea, Bangladesh, Pakistan, Mexico, Italy, France and Nigeria lagged somewhat behind, together comprising a further 29%.

South Korea, with a CAGR of +9.8%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of wadding per capita consumption was registered in Italy (1,716 kg per 1000 persons), followed by South Korea (676 kg per 1000 persons), Japan (605 kg per 1000 persons) and France (584 kg per 1000 persons), while the world average per capita consumption of wadding was estimated at 279 kg per 1000 persons.

In Italy, wadding per capita consumption expanded at an average annual rate of +6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+5.1% per year) and Japan (+3.0% per year).

Production

World Production of Wadding

In 2022, approx. 2.2M tons of wadding were produced worldwide; reducing by -2.3% against 2021 figures. The total output volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the production volume increased by 16%. Over the period under review, global production reached the maximum volume at 2.3M tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, wadding production reached $12.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 11% against the previous year. Global production peaked at $12.9B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (457K tons) constituted the country with the largest volume of wadding production, comprising approx. 21% of total volume. Moreover, wadding production in China exceeded the figures recorded by the second-largest producer, the United States (166K tons), threefold. India (160K tons) ranked third in terms of total production with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +2.7%. In the other countries, the average annual rates were as follows: the United States (+2.6% per year) and India (+6.3% per year).

Imports

World Imports of Wadding

Global wadding imports rose significantly to 345K tons in 2022, surging by 11% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wadding imports rose markedly to $2.3B in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

The purchases of the twelve major importers of wadding, namely Russia, the United States, France, Canada, the UK, Germany, Japan, Myanmar, Vietnam, the Netherlands, China and Spain, represented more than third of total import. Kazakhstan (7K tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +104.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest wadding importing markets worldwide were the United States ($139M), France ($127M) and Russia ($103M), with a combined 16% share of global imports. The UK, Canada, China, Germany, Vietnam, Japan, the Netherlands, Spain, Kazakhstan and Myanmar lagged somewhat behind, together comprising a further 25%.

Myanmar, with a CAGR of +82.2%, 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 global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average wadding import price amounted to $6,673 per ton, reducing by -4.5% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 3.5%. As a result, import price attained the peak level of $7,332 per ton. From 2015 to 2022, the average 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 ($10,418 per ton), while Myanmar ($2,587 per ton) was amongst the lowest.

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

Exports

World Exports of Wadding

In 2022, shipments abroad of wadding increased by 9.6% to 366K tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 22%. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, wadding exports amounted to $2.4B in 2022. The total export value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, China (79K tons), distantly followed by Uzbekistan (28K tons), Turkey (23K tons) and India (20K tons) were the main exporters of wadding, together generating 41% of total exports. Poland (14K tons), Germany (13K tons), the United States (12K tons), Italy (12K tons), Bulgaria (12K tons), the Netherlands (11K tons), France (11K tons), Mexico (11K tons) and the United Arab Emirates (10K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wadding exports from China stood at +1.6%. At the same time, the United Arab Emirates (+36.9%), Mexico (+17.7%), Bulgaria (+13.0%), Turkey (+11.8%), India (+7.6%), the United States (+3.7%), Uzbekistan (+3.4%), the Netherlands (+2.5%) and France (+1.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of +36.9% from 2012-2022. Poland experienced a relatively flat trend pattern. By contrast, Germany (-2.4%) and Italy (-3.3%) illustrated a downward trend over the same period. While the share of Uzbekistan (+7.7 p.p.), Turkey (+3.5 p.p.), the United Arab Emirates (+2.7 p.p.), Mexico (+2.1 p.p.), Bulgaria (+1.9 p.p.) and India (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-2.7 p.p.), Italy (-3.1 p.p.) and China (-4.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($463M) remains the largest wadding supplier worldwide, comprising 19% of global exports. The second position in the ranking was taken by Turkey ($101M), with a 4.2% share of global exports. It was followed by Poland, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +6.0%. In the other countries, the average annual rates were as follows: Turkey (+9.3% per year) and Poland (+0.7% per year).

Export Prices By Country

The average wadding export price stood at $6,647 per ton in 2022, remaining constant against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 11% against the previous year. As a result, the export price attained the peak level of $7,519 per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($8,128 per ton), while Uzbekistan ($1,513 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