South-Eastern Asia: Quilted Textile Products Market 2024

Quilted Textile Products Market Size in South-Eastern Asia

In 2021, the Southeast Asian quilted textile products market decreased by -0.2% to $X, falling for the second consecutive year after six years of growth. Overall, consumption continues to indicate a resilient increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Quilted Textile Products Production in South-Eastern Asia

In value terms, quilted textile products production amounted to $X in 2021 estimated in export price. In general, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 35% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

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Quilted Textile Products Exports

Exports in South-Eastern Asia

After two years of decline, overseas shipments of quilted textile products in the piece (excluding embroidery) increased by 57% to X tons in 2021. Overall, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 140%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, quilted textile products exports soared to $X in 2021. Over the period under review, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 77%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia represented the largest exporting country with an export of about X tons, which reached 60% of total exports. Thailand (X tons) held a 24% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (10%). The following exporters - Lao People's Democratic Republic (X tons) and Myanmar (X tons) - each accounted for a 3.5% share of total exports.

Exports from Malaysia increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+233.7%), Myanmar (+24.7%), Vietnam (+20.7%) and Thailand (+9.6%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +233.7% from 2012-2021. Vietnam (+7 p.p.), Thailand (+6.1 p.p.), Malaysia (+2.5 p.p.) and Lao People's Democratic Republic (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest quilted textile products supplier in South-Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by Thailand ($X), with an 18% share of total exports. It was followed by Vietnam, with an 11% share.

In Malaysia, quilted textile products exports increased at an average annual rate of +11.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+5.9% per year) and Vietnam (+27.4% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, reducing by -20% against the previous year. Export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 31%. The level of export peaked at $X per ton in 2020, and then declined markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+12.5%), while the other leaders experienced more modest paces of growth.

Quilted Textile Products Imports

Imports in South-Eastern Asia

In 2021, the amount of quilted textile products in the piece (excluding embroidery) imported in South-Eastern Asia shrank to X tons, waning by -8.1% on 2020. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 40% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, quilted textile products imports expanded markedly to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 39% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Thailand (X tons), Singapore (X tons), Indonesia (X tons) and Malaysia (X tons) were the main importers of quilted textile products in the piece (excluding embroidery), together comprising 92% of total imports. The following importers - the Philippines (X tons) and Cambodia (X tons) - each resulted at a 6.5% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +69.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) were the countries with the highest levels of imports in 2021, together accounting for 77% of total imports. Indonesia, Malaysia, the Philippines and Cambodia lagged somewhat behind, together accounting for a further 20%.

Among the main importing countries, the Philippines, with a CAGR of +52.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, picking up by 15% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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