Asia-Pacific: Travelling Wool Rug Market 2023

Travelling Wool Rug Market Size in Asia-Pacific

The Asia-Pacific travelling wool rug market shrank to $X in 2022, dropping by -2% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 -9.0% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Travelling Wool Rug Production in Asia-Pacific

In value terms, travelling wool rug production dropped slightly to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 -7.5% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 21% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Travelling Wool Rug Exports

Exports in Asia-Pacific

In 2022, overseas shipments of blankets and travelling rugs of wool decreased by -12.6% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by 78%. Over the period under review, the exports hit record highs at X units in 2021, and then fell in the following year.

In value terms, travelling wool rug exports contracted to $X in 2022. Overall, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 78% against the previous year. The level of export peaked at $X in 2021, and then contracted modestly in the following year.

Exports by Country

China dominates exports structure, reaching X units, which was near 91% of total exports in 2022. India (X units) held 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. India (-4.5%) illustrated a downward trend over the same period. While the share of China (+17 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-11.7 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest travelling wool rug supplier in Asia-Pacific, comprising 76% of total exports. The second position in the ranking was held by India ($X), with a 13% share of total exports.

In China, travelling wool rug exports increased at an average annual rate of +13.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, growing by 14% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 20% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per unit), while China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.3%).

Travelling Wool Rug Imports

Imports in Asia-Pacific

Travelling wool rug imports shrank to X units in 2022, dropping by -11.4% on the previous year. Over the period under review, imports continue to indicate a mild curtailment. The growth pace was the most rapid in 2021 when imports increased by 42%. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, travelling wool rug imports skyrocketed to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +134.6% against 2016 indices. The pace of growth was the most pronounced in 2018 when imports increased by 28% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Australia (X units), distantly followed by Afghanistan (X units), Malaysia (X units), the Philippines (X units), China (X units), South Korea (X units), Japan (X units) and New Zealand (X units) represented the main importers of blankets and travelling rugs of wool, together committing 75% of total imports. Hong Kong SAR (X units), Thailand (X units), Cambodia (X units), Myanmar (X units) and Singapore (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported blankets and travelling rugs of wool in Asia-Pacific, comprising 32% of total imports. The second position in the ranking was taken by Australia ($X), with a 15% share of total imports. It was followed by Japan, with an 11% share.

In China, travelling wool rug imports increased at an average annual rate of +19.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+0.4% per year) and Japan (-2.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, picking up by 41% against the previous year. Over the period under review, the import price showed buoyant growth. The pace of growth appeared the most rapid in 2018 an increase of 61% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 China ($X per unit), while Afghanistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+24.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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