Asia: Travelling Wool Rug Market 2023

Travelling Wool Rug Market Size in Asia

The Asian travelling wool rug market dropped slightly to $X in 2022, with a decrease of -3.7% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Travelling Wool Rug Production in Asia

In value terms, travelling wool rug production declined modestly to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +5.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 27% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Travelling Wool Rug Exports

Exports in Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of blankets and travelling rugs of wool, when their volume decreased by -10.5% to X units. Over the period under review, exports saw a mild slump. The most prominent rate of growth was recorded in 2017 when exports increased by 34%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, travelling wool rug exports declined to $X in 2022. Overall, exports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 69%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

In 2022, China (X units) represented the main exporter of blankets and travelling rugs of wool, mixing up 73% of total exports. Turkey (X units) took the second position in the ranking, followed by the United Arab Emirates (X units). All these countries together took approx. 20% share of total exports. India (X units) took a minor share of total exports.

China was also the fastest-growing in terms of the blankets and travelling rugs of wool exports, with a CAGR of +11.9% from 2012 to 2022. At the same time, Turkey (+6.7%) displayed positive paces of growth. By contrast, India (-4.5%) and the United Arab Emirates (-20.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Turkey increased by +53 and +6.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest travelling wool rug supplier in Asia, comprising 71% of total exports. The second position in the ranking was taken by India ($X), with a 12% share of total exports. It was followed by Turkey, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +13.7%. In the other countries, the average annual rates were as follows: India (+3.5% per year) and Turkey (+8.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, with an increase of 11% against the previous year. In general, the export price enjoyed a prominent increase. The pace of growth was the most pronounced in 2015 an increase of 82% against the previous year. The level of export peaked 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 India ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.3%), while the other leaders experienced more modest paces of growth.

Travelling Wool Rug Imports

Imports in Asia

In 2022, overseas purchases of blankets and travelling rugs of wool decreased by -6.1% to X units, falling for the ninth consecutive year after two years of growth. Over the period under review, imports faced a deep slump. The pace of growth appeared the most rapid in 2013 with an increase of 13%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, travelling wool rug imports surged to $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Oman was the largest importer of blankets and travelling rugs of wool in Asia, with the volume of imports resulting at X units, which was near 29% of total imports in 2022. Afghanistan (X units) held a 7.8% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (4.8%). The following importers - the United Arab Emirates (X units), the Philippines (X units), Qatar (X units), Kazakhstan (X units), China (X units), South Korea (X units), Japan (X units), Yemen (X units), Hong Kong SAR (X units) and Bahrain (X units) - together made up 35% of total imports.

Imports into Oman decreased at an average annual rate of -18.0% from 2012 to 2022. At the same time, Afghanistan (+21.3%), Yemen (+14.5%), the Philippines (+6.5%), Malaysia (+5.4%), Kazakhstan (+3.8%) and China (+1.7%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Asia, with a CAGR of +21.3% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-1.4%), South Korea (-7.8%), Qatar (-8.9%), Japan (-9.3%) and Bahrain (-10.2%) illustrated a downward trend over the same period. While the share of Afghanistan (+7.4 p.p.), Malaysia (+3.8 p.p.), the Philippines (+3.6 p.p.), Kazakhstan (+3.1 p.p.), the United Arab Emirates (+2.9 p.p.), China (+2.7 p.p.) and Yemen (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (-43.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported blankets and travelling rugs of wool in Asia, comprising 31% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by Hong Kong SAR, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +19.1%. In the other countries, the average annual rates were as follows: Japan (-2.5% per year) and Hong Kong SAR (+10.9% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, increasing by 34% against the previous year. Overall, the import price recorded a strong expansion. The pace of growth was the most pronounced in 2018 when the import price increased by 49% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+22.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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