Thailand: Blanket Market 2024

Blanket Market Size in Thailand

In 2022, the Thai blanket market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Blanket consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Blanket Production in Thailand

In value terms, blanket production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the production volume increased by 928% against the previous year. Blanket production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Blanket Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in shipments abroad of blankets and traveling rugs (except electric blankets), when their volume decreased by -30.4% to X tons. In general, exports, however, continue to indicate a notable expansion. The pace of growth was the most pronounced in 2021 with an increase of 118% against the previous year. As a result, the exports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, blanket exports shrank remarkably to $X in 2022. Overall, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of 46%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Chile (X tons) and Cambodia (X tons) were the main destinations of blanket exports from Thailand, together accounting for 23% of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +102.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for blanket exported from Thailand were the United States ($X), Cambodia ($X) and Germany ($X), together comprising 64% of total exports. Chile, Poland, the UK, France, Spain, Lao People's Democratic Republic, Italy, Japan, Tanzania and Saudi Arabia lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, Chile, with a CAGR of +65.0%, recorded the highest rates of growth with regard to the value of exports, 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 blanket export price amounted to $X per ton, surging by 11% against the previous year. In general, the export price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 66% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Blanket Imports

Imports into Thailand

In 2022, purchases abroad of blankets and traveling rugs (except electric blankets) increased by 21% to X tons, rising for the third consecutive year after two years of decline. Overall, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 54%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, blanket imports amounted to $X in 2022. In general, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 52% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of blanket to Thailand, accounting for a 35% share of total imports. Moreover, blanket imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+30.1% per year) and India (+49.2% per year).

In value terms, China ($X) constituted the largest supplier of blankets and traveling rugs (except electric blankets) to Thailand, comprising 57% of total imports. The second position in the ranking was taken by South Korea ($X), with a 3.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+20.7% per year) and India (+23.7% per year).

Import Prices by Country

The average blanket import price stood at $X per ton in 2022, which is down by -7.3% against the previous year. Overall, the import price showed a deep setback. The growth pace was the most rapid in 2018 an increase of 21% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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