Eastern Asia: Quilted Textile Products Market 2024

Quilted Textile Products Market Size in Eastern Asia

In 2021, the East Asian quilted textile products market decreased by -2% to $X, falling for the second consecutive year after eight years of growth. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.4% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Quilted Textile Products Production in Eastern Asia

In value terms, quilted textile products production reached $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 27%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

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Quilted Textile Products Exports

Exports in Eastern Asia

In 2021, the amount of quilted textile products in the piece (excluding embroidery) exported in Eastern Asia soared to X tons, rising by 31% compared with 2020 figures. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 289% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, quilted textile products exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 38% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 92% of total exports in 2021. It was distantly followed by South Korea (X tons), creating a 4.7% share of total exports. Japan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to quilted textile products exports from China stood at +15.8%. At the same time, South Korea (+21.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +21.3% from 2012-2021. Japan experienced a relatively flat trend pattern. While the share of China (+18 p.p.) and South Korea (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-4.2 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest quilted textile products supplier in Eastern Asia, comprising 84% of total exports. The second position in the ranking was taken by South Korea ($X), with an 8% share of total exports.

In China, quilted textile products exports increased at an average annual rate of +15.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+20.9% per year) and Japan (-3.8% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, standing approx. at the previous year. Overall, the export price continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2016 an increase of 83% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.2%), while the other leaders experienced a decline in the export price figures.

Quilted Textile Products Imports

Imports in Eastern Asia

In 2021, imports of quilted textile products in the piece (excluding embroidery) in Eastern Asia totaled X tons, almost unchanged from the previous year's figure. Over the period under review, imports, however, showed a mild decline. The most prominent rate of growth was recorded in 2015 when imports increased by 6.8%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, quilted textile products imports shrank to $X in 2021. In general, imports, however, recorded a noticeable downturn. The growth pace was the most rapid in 2014 when imports increased by 11%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons) and Japan (X tons) represented the largest importers of quilted textile products in the piece (excluding embroidery) in 2021, finishing at approx. 41% and 28% of total imports, respectively. Democratic People's Republic of Korea (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (6.6%) and Hong Kong SAR (5.5%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of +11.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported quilted textile products in the piece (excluding embroidery) in Eastern Asia, comprising 53% of total imports. The second position in the ranking was taken by Japan ($X), with a 25% share of total imports. It was followed by Hong Kong SAR, with a 9.8% share.

In China, quilted textile products imports contracted by an average annual rate of -8.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+10.5% per year) and Hong Kong SAR (+4.7% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, falling by -2.7% against the previous year. Over the period under review, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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