ASEAN: Market for Blankets And Travelling Rugs Of Synthetic Fibres 2024

Market Size for Blankets And Travelling Rugs Of Synthetic Fibres in ASEAN

In 2022, the ASEAN market for blankets and travelling rugs of synthetic fibres increased by 7.4% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Blankets And Travelling Rugs Of Synthetic Fibres in ASEAN

In value terms, travelling rugs of synthetic fibre production totaled $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 34% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Blankets And Travelling Rugs Of Synthetic Fibres

Exports in ASEAN

After three years of growth, overseas shipments of blankets and travelling rugs of synthetic fibres decreased by -21.8% to X units in 2022. Overall, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of 83% against the previous year. The volume of export peaked at X units in 2021, and then fell significantly in the following year.

In value terms, travelling rugs of synthetic fibre exports fell markedly to $X in 2022. Over the period under review, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 65%. Over the period under review, the exports reached the maximum at $X in 2021, and then declined remarkably in the following year.

Exports by Country

In 2022, Vietnam (X units) was the major exporter of blankets and travelling rugs of synthetic fibres, mixing up 59% of total exports. Thailand (X units) ranks second in terms of the total exports with a 21% share, followed by Cambodia (17%). Indonesia (X units) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the blankets and travelling rugs of synthetic fibres exports, with a CAGR of +35.2% from 2012 to 2022. At the same time, Cambodia (+27.5%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. By contrast, Indonesia (-2.9%) illustrated a downward trend over the same period. Vietnam (+50 p.p.) and Cambodia (+13 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by -6.1% and -49% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest travelling rugs of synthetic fibre supplier in ASEAN, comprising 61% of total exports. The second position in the ranking was held by Cambodia ($X), with a 21% share of total exports. It was followed by Thailand, with a 13% share.

In Vietnam, travelling rugs of synthetic fibre exports expanded at an average annual rate of +24.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Cambodia (+26.8% per year) and Thailand (-6.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, rising by 4.9% against the previous year. Overall, the export price, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 17% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.2%), while the other leaders experienced a decline in the export price figures.

Imports of Blankets And Travelling Rugs Of Synthetic Fibres

Imports in ASEAN

In 2022, supplies from abroad of blankets and travelling rugs of synthetic fibres increased by 3% to X units, rising for the second year in a row after three years of decline. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by 136%. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, travelling rugs of synthetic fibre imports shrank remarkably to $X in 2022. In general, imports showed a mild expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 135% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units) represented the main importer of blankets and travelling rugs of synthetic fibres, mixing up 52% of total imports. Thailand (X units) ranks second in terms of the total imports with a 19% share, followed by Vietnam (14%) and Myanmar (5.2%). Malaysia (X units) and Singapore (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to travelling rugs of synthetic fibre imports into Indonesia stood at +15.9%. At the same time, Myanmar (+37.5%), Singapore (+17.9%) and Thailand (+6.9%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +37.5% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Malaysia (-11.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Myanmar and Singapore increased by +30, +4.8 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest travelling rugs of synthetic fibre importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Thailand ($X), with a combined 79% share of total imports. These countries were followed by Singapore, Malaysia and Myanmar, which together accounted for a further 17%.

In terms of the main importing countries, Myanmar, with a CAGR of +20.7%, 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

In 2022, the import price in ASEAN amounted to $X per unit, reducing by -20.1% against the previous year. In general, the import price saw a perceptible downturn. The pace of growth appeared the most rapid in 2021 when the import price increased by 43%. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+0.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform