Bangladesh: Cushion Cover Market 2022

Cushion Cover Market Size in Bangladesh

The Bangladeshi cushion cover market shrank to $X in 2021, which is down by -8.6% against the previous year. Over the period under review, consumption continues to indicate a abrupt slump. Cushion cover consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Cushion Cover Production in Bangladesh

In value terms, cushion cover production declined to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 29% against the previous year. Cushion cover production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cushion Cover Exports

Exports from Bangladesh

In 2021, approx. X tons of furnishing articles for car seats were exported from Bangladesh; with an increase of 27% against the previous year's figure. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 84% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, cushion cover exports skyrocketed to $X in 2021. In general, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 90%. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Germany (X tons), the United States (X tons) and Poland (X tons) were the main destinations of cushion cover exports from Bangladesh, with a combined 44% share of total exports. These countries were followed by Canada, the United Arab Emirates, Sweden, Italy, the Netherlands, India, the UK, Spain, China and Russia, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +142.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and the United States ($X) constituted the largest markets for cushion cover exported from Bangladesh worldwide, with a combined 58% share of total exports. These countries were followed by Sweden, the Netherlands, India, Spain, Italy, the UK, the United Arab Emirates, China, Canada and Russia, which together accounted for a further 27%.

Among the main countries of destination, the Netherlands, with a CAGR of +114.2%, 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

In 2021, the average cushion cover export price amounted to $X per ton, almost unchanged from the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2017 an increase of 28%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Canada ($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 the United States (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cushion Cover Imports

Imports into Bangladesh

In 2021, overseas purchases of furnishing articles for car seats were finally on the rise to reach X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 26%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, cushion cover imports amounted to $X in 2021. In general, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 41% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest cushion cover supplier to Bangladesh, with a 69% share of total imports. Moreover, cushion cover imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-7.7% per year) and Thailand (-15.1% per year).

In value terms, the largest cushion cover suppliers to Bangladesh were China ($X), India ($X) and Thailand ($X), with a combined 98% share of total imports.

In terms of the main suppliers, China, with a CAGR of -4.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average cushion cover import price amounted to $X per ton, increasing by 5.8% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cushion cover import price increased by +59.3% against 2018 indices. The pace of growth appeared the most rapid in 2020 an increase of 37%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+30.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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