Global Carpets Rugs Market Size Industry Trends Forecast Report Bwc20153

Global Carpets and Rugs Market size by Materials (nylon, polyester, polypropylene, and others (cotton, wool, silk, jute)), By Type (woven, tufted, needle-punched, knotted, Other (kids printed, bath rugs)), By Application (Residential, Commercial), By Category (in-door, outdoor), By Region (North America, Europe, Asia Pacific, Middle East & Africa and South America); Trend Analysis, Competitive Market Share & Forecast, 2016-26

  • Published Date: September 2020
  • Report ID: bwc20153
  • Available Format: PDF
  • Page: 189

Report Overview

Global Carpets and Rugs Market size- Industry Trends & Forecast Report 2026

 

Global Carpets and Rugs Market has gained momentum in recent years with a CAGR of 3.2%, in value terms, over the forecast period 2020-2026, and expected to reach USD 102,755.78 Million by 2026. Carpets and rugs are used for their artistic and functional properties. In addition to covering floors, increase the overall appearance of a home or office decoration. The rugs and carpets provide a protective layer to floors. Carpets and rugs are more useful in regions having cold climate, rugs, and carpets, which is, provide protection against cold to peoples. The demand for carpets and rugs is higher in developed economies. The major application of the carpets and rugs is in residential, commercial, and industries.

 

Global Carpets and Rugs Market Overview:

 

A carpet and rugs are a textile floor covering which is consisting of an upper layer of pile attached to a backing. The pile was conventionally made from synthetic fibers, wool such as nylon, polypropylene, or polyester are often used, as these fibers are cheaper than wool. The pile normally consists of warped tufts, which are typically heat-treated to maintain their structure. The term carpet is often used in a similar context to the term rug, but rugs are mainly considered smaller than a room and not attached to the floor.

 

Carpets and rugs can be manufactured on a loom fairly similarly to woven fabric, made using needle felts, flat woven, knotted by hand (in oriental rugs), made by hooking wool or cotton through the meshes of a sturdy fabric, or embroidered, made with their pile injected into a backing material (called tufting), Carpet is normally made in widths of 15 feet (4.6 m) in the US and 4 m (13 ft) and 5 m (16 ft) in Europe, 12 feet (3.7 m).

 

Carpets and rugs are used for various purposes such as making a room more comfortable as a place to sit on the floor (e.g., when playing with children or as a prayer rug), insulating a person's feet from a cold tile or concrete floor, reducing sound from walking (particularly in apartment buildings), and adding decoration or color to a room. Carpets and rugs can be made in any color by using various dyed fibers. Carpets and rugs can have many different types of motifs and patterns used to decorate the surface. Carpets are used in commercial establishments such as retail stores and hotels and in private homes, industries.

 

 

 

 

 

Global Carpets and Rugs Market Forecast and Trends

 

Growth drivers 

 

Increasing Urbanization and Globalization

Globalization is essential for urban economic growth and urbanization as it affects the spatial share of resources and creates spatial impacts in developing regions. For instance, India's carpet and rug industry witnessed significant growth. There is a strong reason for preserving and encouraging the handmade carpet industry, not only in its hub, Rajasthan but also throughout the country, to be handmade by millions of people for their lives. The Indian handcrafted cottage sector is perhaps the only export-oriented and direct employment sector in rural India that gives rise to opportunities for the rural unemployed. Turkey and China are also the major exporters of carpets globally.

 

Factors that influence the demand for urbanization and globalization include technological changes in transportation and communication, reducing the need for firms and industries' spatial proximity. These changes combined impact on increased trade and investment, growing transnational communications, and expanding cross-border alliances between businesses and industries. The benefit of globalization includes the efficient use of production factors, expansion of markets, and more significant wealth creation opportunities. So, increasing urbanization also raises consumers' interest in the decoration of their offices, home, and others for making an elegant appearance that directly influences the demand for carpets and rugs and boosts the growth of the carpet and rugs market.

 

Rising Demand for Interior Decoration

Interior decoration can be represented as the human power of creating and arranging products that permit a human being to achieve their personal and collective purpose. A place in the office, house, and hotel looks more attractive, gorgeous, and attractive through decoration. For Instance: Interior decoration, especially in the hospitality industry, directly influence the demand for customers and their profitability, which raised the need for carpets in hospitality industries.

 

Carpets and Rugs, besides covering floors, further improving the overall appeal of a home or office decor and offer a protective layer to floors. In regions with mostly cold climate, carpets & rugs are used for keeping the floor from getting too cold. A few decades ago, the demand for carpets & rugs was the highest in developed economies. However, this trend has changed in the last few years, with consumers spending more money on bringing about aesthetic improvements to their homes or office spaces.

 

Restraints

 

Fluctuation in Prices of Raw Material

Every market is primarily influenced by the prices of the raw materials used in its production process. The "trade war on duties" between the United States and China has limited China's imports, especially American cotton and other raw material. Trade War has a considerable influence on raw material prices, but the situation is volatile. In a fast-changing world, this situation can change very quickly, exposing companies to prices fluctuations that can significantly affect the market panorama in the upcoming period.

 

Impact of COVID-19 on carpet and rugs Industry

 

Many carpets and rugs factories have reduced their production outputs due to a decline in demand, and the lockdown does not significantly impact their ability to continue. However, major ports face problems as stakeholders halt operations during the lockdown duration due to congestion. From 2021 the demand will rebound as residential and commercial applications become operational and fully functional.

 

Production and operation, infrastructural growth has declined globally with the objective of restricting coronaviruses, which are anticipated to influence the market for carpets and rugs. The spread of the COVID-19 due to the pandemic effects in China, Japan, and India is anticipated to be highly affected by Asia-Pacific. This lethal disease is epic in China. Indian market impacted with a huge rate in comparison with other countries as India is the world's largest exporter of handmade carpets and rugs.

 

Global Carpets and Rugs Market: Materials

 

Global Carpets and Rugs market can be bifurcated into three categories such as nylon, polyester, polypropylene, others (Cotton, Wool, Silk, Jute). Amidst the segmentation, the nylon segment projected to dominate the global Carpets and Rugs market. The nylon segment registers a market size of USD 32964.88Million in 2019 and is expected to reach USD 34388.71Million in 2026 at a lucrative CAGR. This growth can be attributed to nylon's great durability, resistance to stain and abrasion, good yarn memory to hold twist, soil concealing capability, and superior purification quality. Due to its high strength, nylon fiber molding is primarily used for industrial as well as commercial installing in areas of heavy foot traffic. After that, the polypropylene segment will rise at the highest rate during the forecast period in the carpets and rugs industry.

 


Global Carpets and Rugs Market: Type

 

Based on carpets and rugs type, the market is bifurcated into woven, tufted, needle-punched, knotted, other (kids printed, bath rugs), and aftermarket. Followed by the woven aftermarket sector projected to dominate the global carpets and rugs market with a significant market size of 29483.35 in 2019 and a market size of USD 31055.21 Million in 2026. With the progressive development of a few players, this market has all the year marks of being concentrated. Woven is energy efficient, naturally safe as compared to other types of carpets. Woven carpets are conveying carpets and rugs woven consume 60% less non-renewable resources in manufacturing than other types of carpets. Wool, jute, and cotton are renewable resources.

 

Global Carpets and Rugs Market: Regional insights

 

By geography, the global carpets and rugs Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The European region represented the extreme development of the Carpets and Rugs market. Due to manufacturers' focus on developing low-cost solutions for carpets & rugs, the European region accounted for the largest share in terms of value in 2019, followed by North America and the Asia-Pacific. Asia-Pacific will witness the highest growth in the forecast period; this is attributed to the increase in construction activity in China, Japan, India, and Indonesia, and the carpets & rugs industry's growth.

 


Source: BlueWeave Consulting

Competitive landscape

 

The Leading Companies for the Carpets and Rugs market is Mohawk Industries Inc., Ikea Group, Shaw Industries Group, Inc., Interface Inc., Tarkett S.A., Oriental Weavers Company for Carpet.,Beaulieu International Group, Dixie Group, Inc., Victoria PLC, Mannington Mills, Inc., Tai Ping Carpets International Limited, Corner carpets, and other prominent players.

 

Recent Development

 

·         November 22, 2017, Mohawk Industries, Inc. Announces Purchase of Godfrey Hirst: Mohawk Industries acquired Godfrey Hirst. This acquisition strengthens the company business in the carpet market in Australasia to complement the leading hard surface presence that the Company had grown through its earlier acquisitions of national distributors in both Australia and New Zealand. By this acquisition company expand its business.

·         December 4, 2016, VICTORIA: Completion of Acquisition of Ceramiche Serra S.p. A

Victoria PLC acquired Cebas Pty Ltd. and the facility of IKEA retail operations in Australia as per the common ownership company. IKEA Retail Australia also operated two stores in the south and western Australia, IKEA Adelaide, and IKEA Perth. This acquisition provides that many IKEA franchisees all over the world INGKA Holding B.V. and its subsidiaries (also referred to as IKEA Group) is one of them. The franchise agreement provides the franchisee the right to operate one or more IKEA stores in a specific market and to market and sell IKEA products under the IKEA Brand in that market. The franchisee also got rights to access to methods and proven solutions and systems, to operate IKEA stores and sell IKEA products. By this acquisition company also expand their carper and rugs business in Australia and generate revenue from the market. 

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.

Product/Service Segmentation

By material, type, application and category coupled with Region.

Key Players

Mohawk Industries Inc., Ikea Group, Autoliv Inc. , Shaw Industries Group, Inc., Interface Inc.. , Tarkett S.A., Oriental Weavers Company for Carpet., Dixie Group, Inc., Beaulieu International Group, Victoria PLC, Mannington Mills, Inc., Tai Ping Carpets International Limited, Milliken & Company, Cormar Carpet and Other Prominent Players.

 

Scope of the Report

By Materials

Ø  Nylon

Ø  Polyester

Ø  Polypropylene

Ø  Others (Cotton, Wool, Silk, Jute)

By Type

Ø  Woven

Ø  Tufted

Ø  Needle-Punched

Ø   Knotted

Ø   Other (Kids Printed, Bath Rugs)

 

By Application

Ø   Residential

Ø  Commercial

By Category

Ø   In-door

Ø  Outdoor

By Region:

Ø  Europe

Ø  North America

Ø  Asia-Pacific

Ø  Middle East & Africa

Ø  South America

The objective of the Study:

Ø  To analyze and forecast the global carpets and rugs market size of the market, in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Carpets and Rugs market into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America and their leading countries.

Ø  To outline, categorized and forecast the global carpets and rugs market based on the material, type, application and category.

Ø  To examine competitive developments like technological advancement, services, and regulative framework within the global carpets and rugs Market.

Ø  To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Key Opinion Participant

Ø  Manufacturers

Ø  Equipment/system suppliers

Ø  Potential investors

Ø  Key executive and strategy growth manager

Ø  End users

Ø  Government institutions

Ø  Consultancy firms