In 2023, the import of chenille fabric of manmade fibres to the Philippines stood at 7.000 million USD. The forecasted values from 2024 to 2028 show a consistent upward trend. Specifically, imports are expected to increase from 7.2787 million USD in 2024 to 8.7665 million USD by 2028. The year-on-year percentage variation shows a gradual increase: 5.26% in 2025, 4.90% in 2026, 4.58% in 2027, and 4.29% in 2028. The compound annual growth rate (CAGR) for the 5-year period from 2023 to 2028 is calculated to be approximately 4.67%.
Future trends to watch for include potential changes in consumer preferences towards sustainable and eco-friendly materials, which could impact the demand for synthetic chenille fabric. Additionally, fluctuations in trade policies and tariffs, as well as advancements in textile technology, could also play significant roles in future import values.
