Book Cover Market

The global book cover market is projected to experience growth in both volume and value from 2022 to 2030, with a forecasted CAGR of +1.4% and +3.4% respectively. Consumption of blotting pads and book covers increased in 2022, with notable growth in countries like Nigeria. Production and exports also showed fluctuations over the analyzed period, with China being the largest exporter and Nigeria the largest importer. Significant differences in import and export prices were observed among major countries, indicating varied growth rates.

Market Forecast

Driven by rising demand for book cover worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 600K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market value to $2.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Blotting Pads And Book Covers

In 2022, consumption of blotting pads and book covers increased by 5.6% to 538K tons, rising for the second consecutive year after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Global consumption peaked at 592K tons in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The global book cover market revenue contracted to $2.1B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $2.6B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (103K tons), Nigeria (61K tons) and India (43K tons), together accounting for 38% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Nigeria (with a CAGR of +104.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($364M), China ($353M) and the United States ($212M) constituted the countries with the highest levels of market value in 2022, together comprising 44% of the global market. Nigeria, India, Germany, Turkey, Russia, Mexico, Indonesia, Brazil, Pakistan and the UK lagged somewhat behind, together accounting for a further 30%.

Among the main consuming countries, Nigeria, with a CAGR of +101.9%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced mixed trends in the market figures.

The countries with the highest levels of book cover per capita consumption in 2022 were Nigeria (279 kg per 1000 persons), Germany (244 kg per 1000 persons) and Turkey (211 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +98.9%), while consumption for the other global leaders experienced mixed trends in the per capita consumption figures.

Production

World Production of Blotting Pads And Book Covers

Global book cover production contracted to 472K tons in 2022, reducing by -6.5% against 2021 figures. Over the period under review, production showed a perceptible downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by 17%. Over the period under review, global production attained the maximum volume at 586K tons in 2018; however, from 2019 to 2022, production failed to regain momentum.

In value terms, book cover production contracted to $1.9B in 2022 estimated in export price. Overall, production showed a slight shrinkage. The growth pace was the most rapid in 2021 when the production volume increased by 19% against the previous year. Global production peaked at $2.6B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of book cover production was China (121K tons), comprising approx. 26% of total volume. Moreover, book cover production in China exceeded the figures recorded by the second-largest producer, India (44K tons), threefold. The third position in this ranking was held by the United States (40K tons), with an 8.5% share.

In China, book cover production declined by an average annual rate of -2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (-2.5% per year) and the United States (+0.2% per year).

Imports

World Imports of Blotting Pads And Book Covers

In 2022, supplies from abroad of blotting pads and book covers increased by 84% to 127K tons, rising for the second consecutive year after three years of decline. In general, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +105.1% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, book cover imports surged to $371M in 2022. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Nigeria (61K tons) was the key importer of blotting pads and book covers, comprising 48% of total imports. The Netherlands (4.8K tons), France (4.4K tons), the UK (3.9K tons), Canada (3K tons), Singapore (2.9K tons), Germany (2.9K tons) and the United States (2.4K tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the blotting pads and book covers imports, with a CAGR of +94.3% from 2012 to 2022. At the same time, the Netherlands (+15.3%), Canada (+6.9%), France (+4.0%), Singapore (+3.2%) and Germany (+2.5%) displayed positive paces of growth. By contrast, the UK (-2.7%) and the United States (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and the Netherlands increased by +48 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($92M) constitutes the largest market for imported blotting pads and book covers worldwide, comprising 25% of global imports. The second position in the ranking was held by the Netherlands ($40M), with an 11% share of global imports. It was followed by France, with a 5.5% share.

In Nigeria, book cover imports increased at an average annual rate of +87.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+21.6% per year) and France (+2.3% per year).

Import Prices By Country

The average book cover import price stood at $2,928 per ton in 2022, dropping by -29.1% against the previous year. In general, the import price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 16%. Over the period under review, average import prices attained the peak figure at $4,316 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($8,261 per ton), while Singapore ($1,105 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Blotting Pads And Book Covers

In 2022, approx. 60K tons of blotting pads and book covers were exported worldwide; falling by -5.8% compared with the previous year's figure. In general, exports recorded a noticeable contraction. The pace of growth was the most pronounced in 2021 with an increase of 26% against the previous year. Over the period under review, the global exports reached the peak figure at 75K tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, book cover exports totaled $259M in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 28%. The global exports peaked at $282M in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China represented the main exporter of blotting pads and book covers in the world, with the volume of exports finishing at 18K tons, which was approx. 31% of total exports in 2022. The UK (4.5K tons) ranks second in terms of the total exports with a 7.5% share, followed by Russia (5.5%). Germany (2.7K tons), India (2.7K tons), Italy (2.3K tons), Austria (2K tons), the Netherlands (1.9K tons), Mexico (1.8K tons), Indonesia (1.7K tons), Portugal (1.6K tons), South Africa (1.6K tons) and France (1.3K tons) held a little share of total exports.

Exports from China decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Russia (+21.1%), the Netherlands (+10.9%), Mexico (+2.6%), the UK (+2.6%) and Italy (+1.2%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in the world, with a CAGR of +21.1% from 2012-2022. Austria and Germany experienced a relatively flat trend pattern. By contrast, India (-1.2%), Portugal (-4.1%), Indonesia (-4.3%), France (-7.7%) and South Africa (-12.1%) illustrated a downward trend over the same period. While the share of Russia (+4.8 p.p.), the UK (+2.8 p.p.), the Netherlands (+2.3 p.p.) and China (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of France (-1.7 p.p.) and South Africa (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($82M) remains the largest book cover supplier worldwide, comprising 32% of global exports. The second position in the ranking was taken by the UK ($23M), with an 8.8% share of global exports. It was followed by Germany, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +2.0%. In the other countries, the average annual rates were as follows: the UK (+7.4% per year) and Germany (+1.2% per year).

Export Prices By Country

In 2022, the average book cover export price amounted to $4,307 per ton, rising by 6.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 11%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($6,863 per ton), while Russia ($2,472 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform