Japan: Travelling Wool Rug Market 2024

Travelling Wool Rug Market Size in Japan

The Japanese travelling wool rug market contracted modestly to $X in 2022, falling by -2.2% against the previous year. Overall, consumption showed measured growth. Travelling wool rug consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Travelling Wool Rug Production in Japan

In value terms, travelling wool rug production fell modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed buoyant growth. The growth pace was the most rapid in 2015 when the production volume increased by 62%. Travelling wool rug production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Travelling Wool Rug Exports

Exports from Japan

In 2022, shipments abroad of blankets and travelling rugs of wool increased by 19% to X units, rising for the third consecutive year after two years of decline. In general, exports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2015 when exports increased by 862% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, travelling wool rug exports surged to $X in 2022. Overall, exports showed a pronounced increase. The most prominent rate of growth was recorded in 2015 with an increase of 617% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Taiwan (Chinese) (X units), China (X units) and the United States (X units) were the main destinations of travelling wool rug exports from Japan, with a combined 90% share of total exports. South Korea, Germany, Latvia and Hong Kong SAR lagged somewhat behind, together accounting for a further 8.6%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +43.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Taiwan (Chinese) ($X) were the largest markets for travelling wool rug exported from Japan worldwide, with a combined 78% share of total exports. Germany, South Korea, Latvia and Hong Kong SAR lagged somewhat behind, together accounting for a further 18%.

Among the main countries of destination, Germany, with a CAGR of +36.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average travelling wool rug export price amounted to $X per unit, growing by 34% against the previous year. Overall, the export price showed notable growth. The growth pace was the most rapid in 2016 when the average export price increased by 108% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Travelling Wool Rug Imports

Imports into Japan

In 2022, purchases abroad of blankets and travelling rugs of wool increased by 16% to X units, rising for the second consecutive year after three years of decline. Overall, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 21%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, travelling wool rug imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 42%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Latvia (X units) constituted the largest travelling wool rug supplier to Japan, with a 25% share of total imports. Moreover, travelling wool rug imports from Latvia exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The United States (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Latvia totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.4% per year) and the United States (-2.9% per year).

In value terms, the largest travelling wool rug suppliers to Japan were the UK ($X), Italy ($X) and China ($X), together comprising 59% of total imports.

Italy, with a CAGR of +5.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average travelling wool rug import price amounted to $X per unit, surging by 4% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, travelling wool rug import price increased by +28.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 35%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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