India: Quilted Textile Products Market 2024

Quilted Textile Products Market Size in India

In 2021, after four years of growth, there was decline in the Indian quilted textile products market, when its value decreased by -0.4% to $X. Overall, consumption, however, continues to indicate buoyant growth. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Quilted Textile Products Production in India

In value terms, quilted textile products production shrank slightly to $X in 2021 estimated in export price. In general, production, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 56%. Over the period under review, production hit record highs at $X in 2020, and then declined modestly in the following year.

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Quilted Textile Products Exports

Exports from India

In 2021, overseas shipments of quilted textile products in the piece (excluding embroidery) were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, recorded a abrupt shrinkage. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, quilted textile products exports soared to $X in 2021. In general, exports, however, recorded a abrupt curtailment. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for quilted textile products exports from India, with a 37% share of total exports. Moreover, quilted textile products exports to the United States exceeded the volume sent to the second major destination, Bhutan (X tons), twofold. The UK (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bhutan (+97.6% per year) and the UK (-9.0% per year).

In value terms, the United States ($X) remains the key foreign market for quilted textile products in the piece (excluding embroidery) exports from India, comprising 37% of total exports. The second position in the ranking was taken by Bhutan ($X), with a 15% share of total exports. It was followed by the UK, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bhutan (+107.0% per year) and the UK (-4.0% per year).

Export Prices by Country

In 2021, the average quilted textile products export price amounted to $X per ton, growing by 10% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, quilted textile products export price increased by +99.9% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 52% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Arab Emirates (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Quilted Textile Products Imports

Imports into India

In 2021, overseas purchases of quilted textile products in the piece (excluding embroidery) increased by 46% to X tons, rising for the sixth year in a row after three years of decline. In general, imports enjoyed resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 57%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, quilted textile products imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed noticeable growth. The pace of growth appeared the most rapid in 2017 when imports increased by 58% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), Sri Lanka (X tons) and Bangladesh (X tons) were the main suppliers of quilted textile products imports to India, together accounting for 75% of total imports. These countries were followed by Germany, Hong Kong SAR, Poland, Italy and Thailand, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +112.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest quilted textile products suppliers to India were China ($X), Sri Lanka ($X) and Bangladesh ($X), with a combined 75% share of total imports. These countries were followed by Germany, Hong Kong SAR, Poland, Italy and Thailand, which together accounted for a further 23%.

Poland, with a CAGR of +111.1%, saw the highest growth rate of the value of imports, among 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 quilted textile products import price stood at $X per ton in 2021, approximately mirroring the previous year. In general, the import price, however, recorded a mild setback. The most prominent rate of growth was recorded in 2015 an increase of 28%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Italy ($X per ton) and Thailand ($X per ton), while the price for Bangladesh ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+18.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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