Asia: Electric Blanket Market 2024

Electric Blanket Market Size in Asia

The Asian electric blanket market fell remarkably to $X in 2021, dropping by -51.4% against the previous year. Overall, consumption continues to indicate a deep reduction. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Electric Blanket Production in Asia

In value terms, electric blanket production fell to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 43% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Electric Blanket Exports

Exports in Asia

In 2021, shipments abroad of electric blankets was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a remarkable increase from 2012 to 2021: its volume 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. The most prominent rate of growth was recorded in 2018 when exports increased by 68%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, electric blanket exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, finishing at X units, which was approx. 94% of total exports in 2021. The following exporters - Indonesia (X units) and Vietnam (X units) - together made up 4.4% of total exports.

From 2012 to 2021, average annual rates of growth with regard to electric blanket exports from China stood at +5.3%. At the same time, Vietnam (+53.0%) and Indonesia (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +53.0% from 2012-2021. While the share of Vietnam (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest electric blanket supplier in Asia, comprising 94% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 3.2% share of total exports.

In China, electric blanket exports increased at an average annual rate of +5.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (-1.1% per year) and Vietnam (+60.5% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, increasing by 5.9% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 48% 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.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.9%), while the other leaders experienced mixed trends in the export price figures.

Electric Blanket Imports

Imports in Asia

In 2021, electric blanket imports in Asia soared to X units, jumping by 17% against the previous year's figure. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 41%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, electric blanket imports soared to $X in 2021. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 32%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Japan dominates imports structure, resulting at X units, which was near 66% of total imports in 2021. It was distantly followed by South Korea (X units) and Taiwan (Chinese) (X units), together generating a 13% share of total imports. Hong Kong SAR (X units), Iran (X units) and China (X units) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of electric blankets. At the same time, South Korea (+44.4%), Iran (+32.7%), Taiwan (Chinese) (+7.0%) and China (+2.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +44.4% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. From 2012 to 2021, the share of South Korea, Taiwan (Chinese) and Iran increased by +7, +2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported electric blankets in Asia, comprising 71% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 6.2% share of total imports. It was followed by South Korea, with a 6.2% share.

In Japan, electric blanket imports decreased by an average annual rate of -1.3% over the period from 2012-2021. 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

In 2021, the import price in Asia amounted to $X per unit, picking up by 12% against the previous year. In general, the import price, however, saw a slight contraction. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Iran ($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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