Eastern Asia: Knotted Carpet Market 2024

Knotted Carpet Market Size in Eastern Asia

The East Asian knotted carpet market reduced to $X in 2022, shrinking by -8.6% against the previous year. Overall, consumption continues to indicate a noticeable decrease. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Knotted Carpet Production in Eastern Asia

In value terms, knotted carpet production fell modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild decrease. The growth pace was the most rapid in 2015 with an increase of 13% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

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Knotted Carpet Exports

Exports in Eastern Asia

In 2022, shipments abroad of knotted carpets and other knotted textile floor coverings increased by 41% to X square meters, rising for the third consecutive year after four years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 113% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, knotted carpet exports surged to $X in 2022. Overall, exports, however, showed a perceptible setback. The pace of growth was the most pronounced in 2021 when exports increased by 107% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of knotted carpets and other knotted textile floor coverings, namely China, represented more than two-thirds of total export.

China experienced a relatively flat trend pattern with regard to volume of exports of knotted carpets and other knotted textile floor coverings. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In China, knotted carpet exports decreased by an average annual rate of -3.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per square meter, flattening at the previous year. In general, the export price, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 25% against the previous year. Over the period under review, the export prices hit record highs at $X per square meter in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -3.6% per year.

Knotted Carpet Imports

Imports in Eastern Asia

In 2022, approx. X square meters of knotted carpets and other knotted textile floor coverings were imported in Eastern Asia; with a decrease of -28.5% against the previous year's figure. Over the period under review, imports showed a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. The volume of import peaked at X square meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, knotted carpet imports totaled $X in 2022. In general, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X square meters) and Taiwan (Chinese) (X square meters) represented roughly 71% of total imports in 2022. Hong Kong SAR (X square meters) took the next position in the ranking, followed by China (X square meters). All these countries together took near 25% share of total imports. South Korea (X square meters) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +20.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X) constitutes the largest market for imported knotted carpets and other knotted textile floor coverings in Eastern Asia, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Hong Kong SAR, with an 11% share.

In Japan, knotted carpet imports contracted by an average annual rate of -7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-2.4% per year) and Hong Kong SAR (+0.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per square meter in 2022, jumping by 41% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Japan ($X per square meter), while Taiwan (Chinese) ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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