Latin America and the Caribbean: Quilted Textile Products Market 2024

Quilted Textile Products Market Size in Latin America and the Caribbean

The Latin American quilted textile products market expanded remarkably to $X in 2021, picking up by 6.8% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.4% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Quilted Textile Products Production in Latin America and the Caribbean

In value terms, quilted textile products production rose sharply to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% 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 -5.7% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 25%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Quilted Textile Products Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of quilted textile products in the piece (excluding embroidery) increased by 26% to X tons, rising for the third year in a row after four years of decline. Overall, exports, however, recorded a deep downturn. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, quilted textile products exports surged to $X in 2021. Over the period under review, exports, however, showed a perceptible shrinkage. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico was the key exporter of quilted textile products in the piece (excluding embroidery) in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was near 57% of total exports in 2021. The Dominican Republic (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Chile (10%) and Colombia (7.1%). The following exporters - Brazil (X tons), Panama (X tons) and Paraguay (X tons) - together made up 9.1% of total exports.

Exports from Mexico decreased at an average annual rate of -2.8% from 2012 to 2021. At the same time, the Dominican Republic (+13.2%), Panama (+8.3%) and Paraguay (+3.9%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +13.2% from 2012-2021. By contrast, Brazil (-4.2%), Chile (-5.4%) and Colombia (-16.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, the Dominican Republic, Panama and Chile increased by +22, +13, +2.2 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest quilted textile products supplier in Latin America and the Caribbean, comprising 77% of total exports. The second position in the ranking was held by Brazil ($X), with a 6.5% share of total exports. It was followed by the Dominican Republic, with a 6.1% share.

In Mexico, quilted textile products exports expanded at an average annual rate of +1.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-3.7% per year) and the Dominican Republic (+16.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.2%. The most prominent rate of growth was recorded in 2014 when the export price increased by 34%. Over the period under review, the export prices reached the maximum in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+4.9%), while the other leaders experienced more modest paces of growth.

Quilted Textile Products Imports

Imports in Latin America and the Caribbean

In 2021, imports of quilted textile products in the piece (excluding embroidery) in Latin America and the Caribbean skyrocketed to X tons, increasing by 51% compared with the year before. Over the period under review, imports posted a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, quilted textile products imports skyrocketed to $X in 2021. Overall, imports showed a mild expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons), distantly followed by Peru (X tons), Mexico (X tons), Bolivia (X tons) and Colombia (X tons) represented the key importers of quilted textile products in the piece (excluding embroidery), together comprising 84% of total imports. Ecuador (X tons) and El Salvador (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Peru (with a CAGR of +57.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported quilted textile products in the piece (excluding embroidery) in Latin America and the Caribbean, comprising 43% of total imports. The second position in the ranking was taken by Brazil ($X), with a 19% share of total imports. It was followed by Peru, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico stood at -2.9%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+21.1% per year) and Peru (+40.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with a decrease of -11.6% against the previous year. Overall, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 when the import price increased by 11%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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