Travelling Rugs Of Synthetic Fibre Market

The global market for blankets and travelling rugs of synthetic fibres is projected to see steady growth from 2022 to 2030. Consumption, production, and exports are all on the rise, with China leading as the biggest producer and exporter. The United States is the largest importer in terms of volume, while Germany and Japan are also significant players in the market. Overall, the market is expected to continue its upward trend in the coming years.

Market Forecast

Driven by increasing demand for blankets and travelling rugs of synthetic fibres worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 1.4B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $14.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Blankets And Travelling Rugs Of Synthetic Fibres

Global travelling rugs of synthetic fibre consumption expanded slightly to 1.2B units in 2022, growing by 2.7% compared with the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +83.4% against 2012 indices. Over the period under review, global consumption hit record highs in 2022 and is expected to retain growth in the near future.

The revenue of the market for blankets and travelling rugs of synthetic fibres worldwide stood at $10.3B in 2022, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $10.8B. From 2021 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (296M units), China (151M units) and India (50M units), together comprising 40% of global consumption.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +16.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.7B), Japan ($1.3B) and China ($864M) constituted the countries with the highest levels of market value in 2022, together comprising 38% of the global market.

The United States, with a CAGR of +13.2%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of travelling rugs of synthetic fibre per capita consumption was registered in the United States (883 units per 1000 persons), followed by Germany (351 units per 1000 persons), France (285 units per 1000 persons) and Japan (214 units per 1000 persons), while the world average per capita consumption of travelling rugs of synthetic fibre was estimated at 2.1 units per 1000 persons.

From 2012 to 2022, the average annual growth rate of the travelling rugs of synthetic fibre per capita consumption in the United States totaled +16.1%. In the other countries, the average annual rates were as follows: Germany (+9.5% per year) and France (+11.4% per year).

Production

World Production of Blankets And Travelling Rugs Of Synthetic Fibres

In 2022, the amount of blankets and travelling rugs of synthetic fibres produced worldwide expanded to 1.4B units, surging by 4.3% compared with the year before. In general, the total production indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +85.6% against 2012 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 31%. Over the period under review, global production attained the maximum volume in 2022 and is expected to retain growth in years to come.

In value terms, travelling rugs of synthetic fibre production rose modestly to $10.6B in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.9% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 16% against the previous year. Global production peaked at $11.1B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

China (934M units) constituted the country with the largest volume of travelling rugs of synthetic fibre production, accounting for 65% of total volume. Moreover, travelling rugs of synthetic fibre production in China exceeded the figures recorded by the second-largest producer, India (54M units), more than tenfold. The third position in this ranking was taken by Pakistan (32M units), with a 2.2% share.

In China, travelling rugs of synthetic fibre production expanded at an average annual rate of +6.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+7.5% per year) and Pakistan (+7.9% per year).

Imports

World Imports of Blankets And Travelling Rugs Of Synthetic Fibres

In 2022, supplies from abroad of blankets and travelling rugs of synthetic fibres increased by 0.5% to 684M units, rising for the third year in a row after two years of decline. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.0% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, travelling rugs of synthetic fibre imports declined to $3.5B in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 30% against the previous year. As a result, imports reached the peak of $3.5B, and then fell modestly in the following year.

Imports By Country

The United States represented the main importing country with an import of around 298M units, which recorded 44% of total imports. It was distantly followed by Germany (37M units), mixing up a 5.4% share of total imports. The Netherlands (22M units), France (20M units), Poland (19M units), Spain (14M units), Canada (13M units), Japan (13M units), Greece (12M units), Italy (12M units), the United Arab Emirates (11M units) and Brazil (11M units) held a relatively small share of total imports.

Imports into the United States increased at an average annual rate of +16.8% from 2012 to 2022. At the same time, Greece (+21.9%), Poland (+20.8%), the Netherlands (+20.7%), France (+12.4%), Italy (+12.3%), Germany (+10.5%), Canada (+8.4%), Brazil (+6.4%) and Spain (+1.3%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing importer imported in the world, with a CAGR of +21.9% from 2012-2022. By contrast, Japan (-4.0%) and the United Arab Emirates (-10.2%) illustrated a downward trend over the same period. While the share of the United States (+24 p.p.), the Netherlands (+2.1 p.p.) and Poland (+1.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Spain (-1.8 p.p.), Japan (-4 p.p.) and the United Arab Emirates (-8.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.3B) constitutes the largest market for imported blankets and travelling rugs of synthetic fibres worldwide, comprising 39% of global imports. The second position in the ranking was taken by Germany ($160M), with a 4.6% share of global imports. It was followed by Japan, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +9.5%. In the other countries, the average annual rates were as follows: Germany (+2.4% per year) and Japan (-3.1% per year).

Import Prices By Country

The average import price for blankets and travelling rugs of synthetic fibres stood at $5 per unit in 2022, waning by -2.5% against the previous year. In general, the import price saw a perceptible decrease. The most prominent rate of growth was recorded in 2014 an increase of 5.9% against the previous year. As a result, import price attained the peak level of $8 per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($12 per unit), while Greece ($2.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.0%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Blankets And Travelling Rugs Of Synthetic Fibres

For the fourth consecutive year, the global market recorded growth in overseas shipments of blankets and travelling rugs of synthetic fibres, which increased by 3.6% to 893M units in 2022. Over the period under review, exports saw a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 33%. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, travelling rugs of synthetic fibre exports stood at $4.4B in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 26% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

China (783M units) represented roughly 88% of total exports in 2022.

China was also the fastest-growing in terms of the blankets and travelling rugs of synthetic fibres exports, with a CAGR of +8.0% from 2012 to 2022. While the share of China (+2.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.7B) also remains the largest travelling rugs of synthetic fibre supplier worldwide.

In China, travelling rugs of synthetic fibre exports increased at an average annual rate of +4.0% over the period from 2012-2022.

Export Prices By Country

The average export price for blankets and travelling rugs of synthetic fibres stood at $4.9 per unit in 2022, leveling off at the previous year. In general, the export price, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2014 an increase of 31% against the previous year. As a result, the export price reached the peak level of $9.8 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

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 -3.7% per year.

Source: IndexBox Market Intelligence Platform