Eastern Asia: Electric Blanket Market 2024

Electric Blanket Market Size in Eastern Asia

The East Asian electric blanket market dropped significantly to $X in 2021, waning by -55.2% against the previous year. In general, consumption continues to indicate a abrupt shrinkage. 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 Eastern Asia

In value terms, electric blanket production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 47% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Electric Blanket Exports

Exports in Eastern Asia

In 2021, overseas shipments of electric blankets were finally on the rise to reach X units after two years of decline. Total exports indicated prominent growth 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 72% 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 skyrocketed to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.3% 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

The shipments of the one major exporters of electric blankets, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the electric blankets exports, with a CAGR of +5.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest electric blanket supplier in Eastern Asia.

From 2012 to 2021, the average annual growth rate of value in China totaled +5.5%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, picking up by 5.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 56% 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 remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.1% per year.

Electric Blanket Imports

Imports in Eastern Asia

In 2021, approx. X units of electric blankets were imported in Eastern Asia; jumping by 15% against the year before. Total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +1.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 54%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, electric blanket imports skyrocketed to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 38% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Japan prevails in imports structure, accounting for X units, which was approx. 76% of total imports in 2021. South Korea (X units) ranks second in terms of the total imports with an 8.5% share, followed by Taiwan (Chinese) (6.7%) and Hong Kong SAR (4.8%). The following importers - China (X units) and Democratic People's Republic of Korea (X units) - each finished at a 3.6% share of total imports.

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 China (+2.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +44.4% from 2012-2021. Hong Kong SAR and Democratic People's Republic of Korea experienced a relatively flat trend pattern. From 2012 to 2021, the share of South Korea and Taiwan (Chinese) increased by +8.2 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported electric blankets in Eastern Asia, comprising 78% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 6.9% share of total imports. It was followed by South Korea, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan totaled -1.3%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+6.0% per year) and South Korea (+37.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, increasing by 13% against the previous year. In general, the import price, however, continues to indicate a slight downturn. The level of import peaked at $X per unit in 2014; however, from 2015 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 China ($X per unit), while Democratic People's Republic of Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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