Middle East: Blanket Market 2024

Blanket Market Size in the Middle East

In 2022, the Middle Eastern blanket market decreased by -3.3% to $X, falling for the third year in a row after eight years of growth. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Blanket Production in the Middle East

In value terms, blanket production reduced notably to $X in 2022 estimated in export price. Overall, production showed noticeable growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 63% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Blanket Exports

Exports in the Middle East

In 2022, approx. X tons of blankets and traveling rugs (except electric blankets) were exported in the Middle East; increasing by 13% compared with 2021 figures. Overall, exports, however, recorded a noticeable contraction. The growth pace was the most rapid in 2017 when exports increased by 23%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, blanket exports soared to $X in 2022. In general, exports, however, recorded a noticeable reduction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey represented the key exporter of blankets and traveling rugs (except electric blankets) in the Middle East, with the volume of exports accounting for X tons, which was approx. 73% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a 21% share of total exports. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to blanket exports from Turkey stood at +1.4%. At the same time, Iran (+24.0%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +24.0% from 2012-2022. By contrast, the United Arab Emirates (-9.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Iran increased by +27 and +1.6 percentage points, respectively.

In value terms, Turkey ($X) remains the largest blanket supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports.

In Turkey, blanket exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-7.5% per year) and Iran (+17.5% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, surging by 5.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2021 when the export price increased by 13%. The level of export peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.2%), while the other leaders experienced a decline in the export price figures.

Blanket Imports

Imports in the Middle East

In 2022, supplies from abroad of blankets and traveling rugs (except electric blankets) increased by 4.6% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports, however, recorded a mild decline. The growth pace was the most rapid in 2016 with an increase of 28%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, blanket imports shrank slightly to $X in 2022. In general, imports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2014 with an increase of 16%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main importer of blankets and traveling rugs (except electric blankets), comprising 35% of total imports. Iraq (X tons) held the second position in the ranking, distantly followed by Yemen (X tons), Oman (X tons), Qatar (X tons), Israel (X tons) and Iran (X tons). All these countries together held near 55% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +22.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported blankets and traveling rugs (except electric blankets) in the Middle East, comprising 33% of total imports. The second position in the ranking was taken by Iraq ($X), with a 16% share of total imports. It was followed by Yemen, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at -4.9%. The remaining importing countries recorded the following average annual rates of imports growth: Iraq (-2.0% per year) and Yemen (+3.6% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, falling by -5.6% against the previous year. Overall, the import price recorded a slight setback. The growth pace was the most rapid in 2014 when the import price increased by 19%. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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