Malaysia: Travelling Wool Rug Market 2024

Travelling Wool Rug Market Size in Malaysia

The Malaysian travelling wool rug market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Travelling Wool Rug Production in Malaysia

In value terms, travelling wool rug production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 81% against the previous year. Travelling wool rug production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Travelling Wool Rug Exports

Exports from Malaysia

Travelling wool rug exports from Malaysia amounted to X units in 2022, growing by 14% compared with 2021 figures. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 605%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, travelling wool rug exports reduced remarkably to $X in 2022. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 659% against the previous year. The exports peaked at $X in 2021, and then shrank notably in the following year.

Exports by Country

Brunei Darussalam (X units) was the main destination for travelling wool rug exports from Malaysia, accounting for a 45% share of total exports. Moreover, travelling wool rug exports to Brunei Darussalam exceeded the volume sent to the second major destination, the Philippines (X units), twofold. India (X units) ranked third in terms of total exports with an 18% share.

From 2012 to 2022, the average annual growth rate of volume to Brunei Darussalam amounted to +40.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+58.7% per year) and India (0.0% per year).

In value terms, Brunei Darussalam ($X), the Philippines ($X) and India ($X) were the largest markets for travelling wool rug exported from Malaysia worldwide, together comprising 93% of total exports. France and Tanzania lagged somewhat behind, together comprising a further 3.1%.

France, with a CAGR of +221.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average travelling wool rug export price amounted to $X per unit, waning by -44.6% against the previous year. In general, the export price, however, posted a strong expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 159%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Travelling Wool Rug Imports

Imports into Malaysia

Travelling wool rug imports into Malaysia skyrocketed to X units in 2022, rising by 167% against the previous year. Overall, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2014 when imports increased by 568%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, travelling wool rug imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 610%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main travelling wool rug supplier to Malaysia, accounting for a approx. 98% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.4%.

In value terms, China ($X) constituted the largest supplier of blankets and travelling rugs of wool to Malaysia.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +2.7%.

Import Prices by Country

In 2022, the average travelling wool rug import price amounted to $X per unit, surging by 4.4% against the previous year. Over the period under review, the import price, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2019 an increase of 30%. Over the period under review, average import prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, 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 -5.3% per year.

Source: IndexBox Platform

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