Eastern Asia: Book Cover Market 2024

Book Cover Market Size in Eastern Asia

The East Asian book cover market declined slightly to $X in 2022, reducing by -3.6% against the previous year. Overall, consumption showed a deep setback. The most prominent rate of growth was recorded in 2021 when the market value increased by 3.6% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Book Cover Production in Eastern Asia

In value terms, book cover production contracted slightly to $X in 2022 estimated in export price. Overall, production saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 5.8%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Book Cover Exports

Exports in Eastern Asia

In 2022, overseas shipments of blotting pads and book covers increased by 16% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a slight downturn. The pace of growth was the most pronounced in 2017 with an increase of 43% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, book cover exports soared to $X in 2022. The total export value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 94% of total exports in 2022. It was distantly followed by South Korea (X tons), mixing up a 4.6% share of total exports.

Exports from China decreased at an average annual rate of -1.2% from 2012 to 2022. At the same time, South Korea (+9.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +9.8% from 2012-2022. While the share of South Korea (+3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest book cover supplier in Eastern Asia, comprising 91% of total exports. The second position in the ranking was taken by South Korea ($X), with a 5.6% share of total exports.

In China, book cover exports expanded at an average annual rate of +2.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by 7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2021 when the export price increased by 17% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.2%).

Book Cover Imports

Imports in Eastern Asia

In 2022, supplies from abroad of blotting pads and book covers decreased by -4.3% to X tons, falling for the third consecutive year after two years of growth. Overall, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 13% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, book cover imports shrank modestly to $X in 2022. Over the period under review, imports continue to indicate a perceptible reduction. The growth pace was the most rapid in 2018 with an increase of 18% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Japan was the key importing country with an import of around X tons, which recorded 57% of total imports. South Korea (X tons) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (13%) and China (5.1%). Taiwan (Chinese) (X tons) and Macao SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to book cover imports into Japan stood at -3.4%. At the same time, Macao SAR (+35.5%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +35.5% from 2012-2022. By contrast, South Korea (-1.2%), China (-4.3%), Taiwan (Chinese) (-8.9%) and Hong Kong SAR (-11.1%) illustrated a downward trend over the same period. Japan (+6.8 p.p.), South Korea (+5.7 p.p.) and Macao SAR (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Hong Kong SAR saw its share reduced by -2.2% and -12.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported blotting pads and book covers in Eastern Asia, comprising 51% of total imports. The second position in the ranking was taken by South Korea ($X), with a 24% share of total imports. It was followed by China, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at -4.7%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+2.2% per year) and China (+4.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, with an increase of 3.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2016 when the import price increased by 15% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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