Eastern Asia: Blanket Market 2025

Blanket Market Size in Eastern Asia

In 2022, the East Asian blanket market decreased by -7.9% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption, however, recorded a perceptible decrease. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Blanket Production in Eastern Asia

In value terms, blanket production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2016 with an increase of 12% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Blanket Exports

Exports in Eastern Asia

In 2022, approx. X tons of blankets and traveling rugs (except electric blankets) were exported in Eastern Asia; growing by 34% against 2021. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.7% 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 +58.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 73% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, blanket exports stood at $X in 2022. The total export value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 31% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

China (X tons) represented roughly 99% of total exports in 2022.

China was also the fastest-growing in terms of the blankets and traveling rugs (except electric blankets) exports, with a CAGR of +7.1% from 2012 to 2022. While the share of China (+4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest blanket supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China stood at +3.0%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, dropping by -25.2% against the previous year. Overall, the export price recorded a pronounced contraction. The growth pace was the most rapid in 2014 an increase of 38% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -3.8% per year.

Blanket Imports

Imports in Eastern Asia

In 2022, the amount of blankets and traveling rugs (except electric blankets) imported in Eastern Asia skyrocketed to X tons, rising by 21% on the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, blanket imports shrank modestly to $X in 2022. In general, imports, however, continue to indicate a perceptible descent. The growth pace was the most rapid in 2021 with an increase of 13%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Japan was the key importer of blankets and traveling rugs (except electric blankets) in Eastern Asia, with the volume of imports finishing at X tons, which was near 66% of total imports in 2022. South Korea (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (9.1%). The following importers - China (X tons) and Hong Kong SAR (X tons) - together made up 6.2% of total imports.

From 2012 to 2022, average annual rates of growth with regard to blanket imports into Japan stood at -1.7%. At the same time, China (+12.3%), South Korea (+4.4%) and Taiwan (Chinese) (+2.2%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +12.3% from 2012-2022. By contrast, Hong Kong SAR (-5.2%) illustrated a downward trend over the same period. While the share of South Korea (+6.9 p.p.), China (+2.8 p.p.) and Taiwan (Chinese) (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-6.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported blankets and traveling rugs (except electric blankets) in Eastern Asia, comprising 67% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by China, with an 8.5% share.

In Japan, blanket imports plunged by an average annual rate of -4.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+6.4% per year) and China (+10.4% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, dropping by -17.8% against the previous year. Over the period under review, the import price continues to indicate a slight shrinkage. The growth pace was the most rapid in 2021 when the import price increased by 27%. As a result, import price attained the peak level of $X per ton, and then reduced rapidly in the following year.

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 China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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