Market research

Felt market in Portugal

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

The Portuguese felt market in 2018 was anchored by global leaders like FEPSA, which exports 98% of its high-quality hat felt to international luxury brands, and Cortadoria Nacional de Pêlo, a dominant supplier of raw material. However, by 2019 the industry faced a shrinking global market and a shortage of qualified workers, which contributed to a decline in market volume to 17 811 t. The COVID-19 pandemic in 2020 further reduced market activity, pushing the volume down to 13 987 t, although producers maintained operations by focusing on export markets.

A sharp recovery followed in 2021, with market volume jumping to 21 827 t. This growth was supported by investments in innovation, notably the 'Felt the Future' project developing acoustic and lighting modules from felt, and the broader digital transformation of the textile sector, which helped diversify products and stimulate demand.

By 2023, the market volume contracted significantly to 12 134 t. A key factor was the persistent talent shortage in the labor market, which constrained production capacity. Legislative changes in 2022 aimed at facilitating foreign worker mobility may have provided some relief, but labor challenges continued to impact the industry.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2021, 2023
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2021, 2023
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2021, 2023
    2. 4.1.2.2. Imports, 2018-2025
    3. 4.1.2.3. Exports, 2018-2025
    4. 4.1.2.4. Market size, 2018-2021, 2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Portugal
  1. 5.1.1. In kind, 2018-2021, 2023, t
  2. 5.1.2. In value, 2018-2021, 2023, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, t
  2. 5.2.2. In value, 2018-2024, K $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, t
    1. 6.1.2.1. Annual dynamics of product's exports from Portugal in kind, 2018-2025, t
    2. 6.1.2.2. Dynamics of product's exports in kind from Portugal by countries, 2018-2025, t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Portugal in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Portugal by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Portugal, 2018-2025, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Portugal by countries, 2018-2025, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, t
    1. 6.2.2.1. Annual dynamics of product's exports from Portugal in kind, 2018-2025, t
    2. 6.2.2.2. Dynamics of product's exports in kind from Portugal by countries, 2018-2025, t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Portugal in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Portugal by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Portugal, 2018-2025, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Portugal by countries, 2018-2025, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, t
    1. 7.1.2.1. Annual dynamics of product's imports to Portugal in kind, 2018-2025, t
    2. 7.1.2.2. Dynamics of product's imports in kind to Portugal by countries, 2018-2025, t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Portugal in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Portugal by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Portugal, 2018-2025, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Portugal by countries, 2018-2025, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, t
    1. 7.2.2.1. Annual dynamics of product's imports to Portugal in kind, 2018-2025, t
    2. 7.2.2.2. Dynamics of product's imports in kind to Portugal by countries, 2018-2025, t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Portugal in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Portugal by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Portugal, 2018-2025, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Portugal by countries, 2018-2025, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production felt in Portugal

In value, 2018-2021, K $ US

After two consecutive years of decline, Portugal's felt production rebounded in value terms. In 2021, output reached 36 203 K $ US, marking a substantial 18.4% increase from the previous year. The lowest value was recorded in 2020 at 30 582 K $ US, following the largest decline of 14.2% in 2019.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(14.2%)	(2.2%)	18.4%	(0.2%)

Source: SHEV.io

In kind, 2018-2021, t

Following two years of reduction, Portugal's felt production in physical terms saw a significant increase. In 2021, production amounted to 20 783 t, showing a sharp 59.9% rise compared to 2020. Over the period from 2018 to 2021, production grew by 2.8%, equivalent to an annualized rate of 0.9%. The lowest volume was recorded in 2020 at 13 001 t, which also saw the largest decline of 28.9%.

Annual dynamics of production in Portugal in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	(9.5%)	(28.9%)	59.9%	0.9%

Source: SHEV.io

Exports felt from Portugal

Exports in kind, t

In 2021, Portugal exported 2 018 t of felt, representing a 52.1% increase from the previous year. However, between 2018 and 2021, exports decreased by 22.2%, translating to an annualized decline of 8.0%. The lowest export volume was in 2020 at 1 326 t, while the peak was in 2019 at 2 785 t. The largest decline occurred in 2020, with a drop of 52.4%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	7.4%	(52.4%)	52.1%	(8.0%)

Source: SHEV.io

From 2018 to 2021, Spain was the dominant buyer of felt from Portugal, accounting for 76.8% of total exports in physical terms, with other countries making up the remainder.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Portugal in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

Portugal's felt exports in value terms reached 13 413 K $ US in 2021, up by 16.7% compared to the previous year. Over the 2018-2021 period, exports increased by 12.2%, equivalent to an annualized growth rate of 3.9%. The lowest value was recorded in 2020 at 11 489 K $ US, which also experienced the largest decline of 5.6%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	1.9%	(5.6%)	16.7%	3.9%

Source: SHEV.io

Between 2018 and 2021, Spain remained the leading buyer of felt from Portugal in value terms, accounting for 74.9% of total exports, while other countries shared the remaining volume.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Portugal in value, 2018-2021

Source: SHEV.io

Imports felt to Portugal

Imports in kind, t

Portugal's felt imports in physical terms increased for the third consecutive year. In 2021, imports totaled 3 062 t, showing a strong rise of 32.4% compared to 2020. Over the 2018-2021 period, imports grew by 40.2%, with a compound annual growth rate (CAGR) of 11.9%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	5.8%	0.2%	32.4%	11.9%

Source: SHEV.io

Throughout 2018-2021, Spain, Italy, and Germany formed the core sources of felt imports in physical terms for Portugal. Spain accounted for 45.3%, Italy for 25.7%, and Germany for 10.7% of imports, together representing 81.7% of total flows.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Portugal in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

In 2021, Portugal's felt imports in value terms amounted to 13 365 K $ US, up by 41.2% from the previous year. Over the 2018-2021 period, imports increased by 42.7%, with a CAGR of 12.6%. The largest decline was recorded in 2020 at 9.2%.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	11.3%	(9.2%)	41.2%	12.6%

Source: SHEV.io

From 2018 to 2021, Italy, Spain, and Germany were the main sources of felt imports in value terms for Portugal. Italy accounted for 30.2%, Spain for 26.7%, and Germany for 14.4%, together making up 71.4% of total imports.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Portugal in value, 2018-2021

Source: SHEV.io