Asia-Pacific: Electric Blanket Market 2024

Electric Blanket Market Size in Asia-Pacific

The Asia-Pacific electric blanket market shrank markedly to $X in 2021, reducing by -46.1% against the previous year. Over the period under review, consumption saw a deep reduction. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Electric Blanket Production in Asia-Pacific

In value terms, electric blanket production shrank to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 43%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Electric Blanket Exports

Exports in Asia-Pacific

In 2021, shipments abroad of electric blankets was finally on the rise to reach X units after two years of decline. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 71% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, electric blanket exports soared to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X units, which was near 95% of total exports in 2021. Indonesia (X units) and Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to electric blanket exports from China stood at +5.3%. At the same time, Vietnam (+53.0%) and Indonesia (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +53.0% from 2012-2021. Vietnam (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electric blanket supplier in Asia-Pacific, comprising 94% of total exports. The second position in the ranking was held by Indonesia ($X), with a 3.2% share of total exports.

In China, electric blanket exports expanded at an average annual rate of +5.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-1.1% per year) and Vietnam (+60.5% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, picking up by 5.7% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 52% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.9%), while the other leaders experienced mixed trends in the export price figures.

Electric Blanket Imports

Imports in Asia-Pacific

Electric blanket imports surged to X units in 2021, rising by 20% against the year before. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, electric blanket imports surged to $X in 2021. Over the period under review, imports saw 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

Japan was the major importing country with an import of around X units, which reached 51% of total imports. It was distantly followed by Australia (X units) and South Korea (X units), together mixing up a 31% share of total imports. Taiwan (Chinese) (X units), New Zealand (X units) and Hong Kong SAR (X units) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of electric blankets. At the same time, South Korea (+44.4%), Taiwan (Chinese) (+7.0%) and Australia (+3.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +44.4% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, New Zealand (-2.8%) illustrated a downward trend over the same period. South Korea (+5.4 p.p.), Australia (+4 p.p.) and Taiwan (Chinese) (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while New Zealand and Japan saw its share reduced by -2.1% and -9.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), Australia ($X) and New Zealand ($X) constituted the countries with the highest levels of imports in 2021, with a combined 84% share of total imports. Taiwan (Chinese), South Korea and Hong Kong SAR lagged somewhat behind, together comprising a further 11%.

In terms of the main importing countries, South Korea, with a CAGR of +37.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, with an increase of 7.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by 7.8%. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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