China: Blanket Market 2023

Blanket Market Size in China

In 2021, after five years of growth, there was significant decline in the Chinese blanket market, when its value decreased by -46.8% to $X. Overall, consumption recorded a noticeable contraction. Blanket consumption peaked at $X in 2020, and then fell rapidly in the following year.

Blanket Production in China

In value terms, blanket production expanded slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Blanket production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Blanket Exports

Exports from China

In 2021, exports of blankets and traveling rugs (except electric blankets) from China surged to X units, increasing by 17% against 2020. The total export volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 43%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, blanket exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for blanket exports from China, with a 37% share of total exports. Moreover, blanket exports to the United States exceeded the volume sent to the second major destination, Japan (X units), ninefold. The third position in this ranking was held by the UK (X units), with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+2.6% per year) and the UK (+12.4% per year).

In value terms, the United States ($X) remains the key foreign market for blanket exports from China, comprising 38% of total exports. The second position in the ranking was held by Japan ($X), with a 4.5% share of total exports. It was followed by the UK, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.9% per year) and the UK (+9.5% per year).

Export Prices by Country

The average blanket export price stood at $X per unit in 2021, growing by 12% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 39%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was South Korea ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Blanket Imports

Imports into China

In 2021, overseas purchases of blankets and traveling rugs (except electric blankets) increased by 8.6% to X units for the first time since 2017, thus ending a three-year declining trend. In general, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -28.1% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 30%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, blanket imports soared to $X in 2021. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 39% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

India (X units), the United Arab Emirates (X units) and Vietnam (X units) were the main suppliers of blanket imports to China, together accounting for 85% of total imports.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +55.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest blanket suppliers to China were the UK ($X), Italy ($X) and India ($X), with a combined 78% share of total imports.

The UK, with a CAGR of +46.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average blanket import price stood at $X per unit in 2021, with an increase of 16% against the previous year. Overall, the import price posted a pronounced increase. The most prominent rate of growth was recorded in 2018 an increase of 48%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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