Latin America and the Caribbean: Electric Blanket Market 2024

Electric Blanket Market Size in Latin America and the Caribbean

The Latin American electric blanket market rose rapidly to $X in 2021, with an increase of 5.4% against the previous year. Overall, consumption, however, saw a deep downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Electric Blanket Production in Latin America and the Caribbean

In value terms, electric blanket production rose to $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.1% against 2018 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 39% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Electric Blanket Exports

Exports in Latin America and the Caribbean

In 2021, exports of electric blankets in Latin America and the Caribbean skyrocketed to X units, increasing by 36% against 2020 figures. Over the period under review, exports, however, faced a deep contraction. The pace of growth was the most pronounced in 2020 when exports increased by 62%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, electric blanket exports soared to $X in 2021. Overall, exports, however, faced a sharp reduction. The growth pace was the most rapid in 2014 when exports increased by 800% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the four major exporters of electric blankets, namely Colombia, Chile, Argentina and Brazil, represented more than two-thirds of total export. Costa Rica (X units), Panama (X units) and Bahamas (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Costa Rica (with a CAGR of +56.2%), while the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Chile ($X) and Argentina ($X) constituted the countries with the highest levels of exports in 2021, with a combined 77% share of total exports. These countries were followed by Panama, Brazil, Costa Rica and Bahamas, which together accounted for a further 18%.

In terms of the main exporting countries, Costa Rica, with a CAGR of +68.2%, recorded 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 2021, the export price in Latin America and the Caribbean amounted to $X per unit, which is down by -3.1% against the previous year. Overall, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when the export price increased by 582% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahamas (+11.0%), while the other leaders experienced more modest paces of growth.

Electric Blanket Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of electric blankets were imported in Latin America and the Caribbean; growing by 7.1% against the year before. Over the period under review, imports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2019 when imports increased by 26%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, electric blanket imports expanded significantly to $X in 2021. Overall, imports, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 41% 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

In 2021, Chile (X units) was the main importer of electric blankets, comprising 75% of total imports. It was distantly followed by Uruguay (X units) and Argentina (X units), together constituting a 19% share of total imports.

Imports into Chile decreased at an average annual rate of -5.2% from 2012 to 2021. At the same time, Argentina (+23.7%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +23.7% from 2012-2021. Uruguay experienced a relatively flat trend pattern. Argentina (+5 p.p.) and Uruguay (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Chile saw its share reduced by -7% from 2012 to 2021, respectively.

In value terms, Chile ($X) constitutes the largest market for imported electric blankets in Latin America and the Caribbean, comprising 73% of total imports. The second position in the ranking was held by Uruguay ($X), with a 16% share of total imports.

In Chile, electric blanket imports plunged by an average annual rate of -12.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Uruguay (-1.3% per year) and Argentina (+9.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, stabilizing at the previous year. Over the period under review, the import price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2017 an increase of 14% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Uruguay ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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