China: Blanket Market 2024

Blanket Market Size in China

In 2022, the Chinese blanket market decreased by -19.1% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption saw a abrupt descent. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Blanket Production in China

In value terms, blanket production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Blanket production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Blanket Exports

Exports from China

In 2022, exports of blankets and traveling rugs (except electric blankets) from China soared to X tons, picking up by 35% against the previous year. In general, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 76%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, blanket exports stood at $X in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 31%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for blanket exports from China, with a 42% share of total exports. Moreover, blanket exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), more than tenfold. The third position in this ranking was taken by Germany (X tons), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+10.7% per year) and Germany (+7.2% per year).

In value terms, the United States ($X) remains the key foreign market for blankets and traveling rugs (except electric blankets) exports from China, comprising 45% of total exports. The second position in the ranking was held by Japan ($X), with a 3.7% share of total exports. It was followed by Saudi Arabia, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.5% per year) and Saudi Arabia (+0.2% per year).

Export Prices by Country

In 2022, the average blanket export price amounted to $X per ton, which is down by -25.6% against the previous year. In general, the export price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2014 an increase of 39%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Blanket Imports

Imports into China

In 2022, the amount of blankets and traveling rugs (except electric blankets) imported into China soared to X tons, increasing by 249% on the year before. In general, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, blanket imports skyrocketed to $X in 2022. Overall, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 39%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Vietnam (X tons), India (X tons) and Thailand (X tons) were the main suppliers of blanket imports to China, together accounting for 44% of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +71.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Italy ($X) and India ($X) constituted the largest blanket suppliers to China, together comprising 82% of total imports.

The UK, with a CAGR of +51.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average blanket import price amounted to $X per ton, falling by -61.1% against the previous year. Overall, the import price saw a mild setback. The growth pace was the most rapid in 2021 an increase of 193%. As a result, import price attained the peak level of $X per ton, and then declined markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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