China: Market for Blankets And Travelling Rugs Of Synthetic Fibres 2023

Market Size for Blankets And Travelling Rugs Of Synthetic Fibres in China

In 2021, the Chinese market for blankets and travelling rugs of synthetic fibres decreased by -36.9% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption recorded a noticeable downturn. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Blankets And Travelling Rugs Of Synthetic Fibres in China

In value terms, travelling rugs of synthetic fibre production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 15%. Travelling rugs of synthetic fibre production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Blankets And Travelling Rugs Of Synthetic Fibres

Exports from China

Travelling rugs of synthetic fibre exports from China surged to X units in 2021, jumping by 17% compared with 2020 figures. Over the period under review, total exports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.1% 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 2016 when exports increased by 44% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, travelling rugs of synthetic fibre exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded 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 travelling rugs of synthetic fibre exports from China, with a 37% share of total exports. Moreover, travelling rugs of synthetic fibre 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 taken 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 +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.1% per year) and the UK (+12.5% per year).

In value terms, the United States ($X) remains the key foreign market for travelling rugs of synthetic fibre exports from China, comprising 39% of total exports. The second position in the ranking was held by Japan ($X), with a 4.4% 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 amounted to +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.6% per year) and the UK (+9.6% per year).

Export Prices by Country

The average export price for blankets and travelling rugs of synthetic fibres stood at $X per unit in 2021, increasing by 11% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 42% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: 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 South Korea (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Blankets And Travelling Rugs Of Synthetic Fibres

Imports into China

In 2021, supplies from abroad of blankets and travelling rugs of synthetic fibres decreased by -4% to X units, falling for the fourth consecutive year after two years of growth. In general, imports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 42%. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, travelling rugs of synthetic fibre imports dropped markedly to $X in 2021. Overall, imports recorded a abrupt slump. The growth pace was the most rapid in 2017 when imports increased by 30% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X units) constituted the largest supplier of travelling rugs of synthetic fibre to China, accounting for a 56% share of total imports. Moreover, travelling rugs of synthetic fibre imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), twofold. The third position in this ranking was taken by Vietnam (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+17.9% per year) and Vietnam (+50.2% per year).

In value terms, India ($X) constituted the largest supplier of travelling rugs of synthetic fibre to China, comprising 53% of total imports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+46.6% per year) and the United Arab Emirates (+39.1% per year).

Import Prices by Country

The average import price for blankets and travelling rugs of synthetic fibres stood at $X per unit in 2021, shrinking by -11.7% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :