Philippines: Market for Blankets And Travelling Rugs Of Synthetic Fibres 2025

Market Size for Blankets And Travelling Rugs Of Synthetic Fibres in the Philippines

The Philippine market for blankets and travelling rugs of synthetic fibres rose modestly to $X in 2022, picking up by 3.6% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value 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, consumption decreased by -3.3% against 2020 indices. Travelling rugs of synthetic fibre consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Blankets And Travelling Rugs Of Synthetic Fibres in the Philippines

In value terms, travelling rugs of synthetic fibre production reached $X in 2022 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 73% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Blankets And Travelling Rugs Of Synthetic Fibres

Exports from the Philippines

In 2022, approx. X units of blankets and travelling rugs of synthetic fibres were exported from the Philippines; rising by 1,436% against 2021. Overall, exports, however, continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 2,155%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, travelling rugs of synthetic fibre exports soared to $X in 2022. In general, exports, however, saw a sharp downturn. The pace of growth was the most pronounced in 2016 when exports increased by 1,791% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units) was the main destination for travelling rugs of synthetic fibre exports from the Philippines, with a 94% share of total exports. Moreover, travelling rugs of synthetic fibre exports to Japan exceeded the volume sent to the second major destination, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +51.3%.

In value terms, Japan ($X) emerged as the key foreign market for blankets and travelling rugs of synthetic fibres exports from the Philippines, comprising 94% of total exports. The second position in the ranking was taken by the United States ($X), with a 6.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +46.8%.

Export Prices by Country

The average export price for blankets and travelling rugs of synthetic fibres stood at $X per unit in 2022, waning by -17% against the previous year. Over the period under review, the export price, however, recorded a resilient expansion. The growth pace was the most rapid in 2015 when the average export price increased by 107%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then shrank notably in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+63.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Blankets And Travelling Rugs Of Synthetic Fibres

Imports into the Philippines

In 2022, approx. X units of blankets and travelling rugs of synthetic fibres were imported into the Philippines; jumping by 17% against the previous year's figure. In general, imports recorded a moderate expansion. The most prominent rate of growth was recorded in 2016 with an increase of 337%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, travelling rugs of synthetic fibre imports surged to $X in 2022. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 255%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of travelling rugs of synthetic fibre to the Philippines, accounting for a 84% share of total imports. Moreover, travelling rugs of synthetic fibre imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+14.7% per year) and India (+14.7% per year).

In value terms, China ($X) constituted the largest supplier of blankets and travelling rugs of synthetic fibres to the Philippines, comprising 84% of total imports. The second position in the ranking was held by South Korea ($X), with a 5.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+62.8% per year) and India (+36.7% per year).

Import Prices by Country

The average import price for blankets and travelling rugs of synthetic fibres stood at $X per unit in 2022, picking up by 4% against the previous year. Over the period under review, the import price recorded significant growth. The pace of growth was the most pronounced in 2018 when the average import price increased by 314% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+41.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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