Carpet Market Size, Share, Growth Analysis, By Material(Wool, Nylon, Polyester, Polypropylene), By Product(Woven Carpets, Tufted Carpets, Knotted Carpets, Needle-Felt Carpet), By Application(Residential, Commercial, Hospitality, Healthcare), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25S2047 | Region: Global | Published Date: April, 2024
Pages: 223 | Tables: 97 | Figures: 76

Carpet Market Insights

Global Carpet Market size was valued at USD 55.28 billion in 2022 and is poised to grow from USD 60.82 billion in 2023 to USD 130.67 billion by 2031, growing at a CAGR of 10.03% in the forecast period (2024-2031).

The global carpet marketplace provides a dynamic landscape stimulated by means of various factors. Demand for carpets is pushed via the construction and actual estate sectors, both residential and commercial, as aesthetics and comfort play important roles in interior layout. Sustainable and eco-friendly materials are gaining prominence, reflecting a broader industry shift toward environmentally aware practices. Additionally, technological advancements in production techniques, inclusive of virtual printing, contribute to numerous design alternatives and customization. The Asia-Pacific region, witnessing strong urbanization and developing disposable income, emerges as a key marketplace contributor. However, financial fluctuations and the impact of the pandemic pose challenges, necessitating strategic edition in the international carpet marketplace.

Carpet Market Report Snapshots

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Carpet Market size was valued at USD 55.28 billion in 2022 and is poised to grow from USD 60.82 billion in 2023 to USD 130.67 billion by 2031, growing at a CAGR of 10.03% in the forecast period (2024-2031).

The competitive environment of the Carpet market is dynamic and s characterized by a diverse mix of established players and innovative entrants, contributing to a dynamic and evolving industry. The key players leverage their brand recognition, manufacturing capabilities, and distribution networks to maintain a competitive edge. The market also witnesses active participation from regional and niche players, fostering diversity in product offerings and catering to specific consumer segments. 'Mohawk Industries (US)', 'Shaw Industries Group, Inc. (US)', 'Beaulieu International Group (Belgium)', 'Oriental Weavers Group (Egypt)', 'Tarkett (France)', 'LGD (LG Hausys) (South Korea)', 'Dixie Group (US)', 'Engineered Floors, LLC (US)', 'Interface, Inc. (US)', 'Milliken & Company (US)', 'Victoria (India)', 'Oriental Weavers Carpets (India)', 'Jaipur Rugs (India)', 'Balta Group (Turkey)', 'Tai Ping Carpets (China)', 'Shandong Luyuan Carpet Co., Ltd. (China)', 'Jiangsu Haixiang Group Co., Ltd. (China)', 'Vorwerk & Co. KG (Germany)', 'Akro Carpets (United Arab Emirates)', 'Flooring Group Holdings Plc (UK)'

The enlargement of the construction and real estate sectors, each in residential and commercial spaces, serves as a number one driving force. The aesthetic appeal and luxury presented through carpets lead them to a sought-after floors answer in interior design. Additionally, a top notch trend driving the marketplace is the growing demand for sustainable and green substances, reflecting a broader enterprise shift in the direction of environmentally aware practices.

Rising Preference For Sustainable And Eco-Friendly Materials: The increasing choice for sustainable and eco-friendly substances in carpet production, reflecting a developing attention of environmental worries among purchasers. Technological improvements keep to play a pivotal function, with improvements along with virtual printing allowing a various range of layout alternatives and customization. Smart carpets, incorporating era like sensors or interactive elements, are gaining traction, aligning with the broader fashion of integrating era into normal products.

Asia-Pacific is likely to dominate the carpet marketplace. This is attributed to fast urbanization, strong creation sports, and developing disposable incomes in international locations consisting of China and India. The call for for residential and commercial areas, coupled with a cultural affinity for carpets in certain areas, contributes to Asia-Pacific's dominance.

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Carpet Market Size, Share, Growth Analysis, By Material(Wool, Nylon, Polyester, Polypropylene), By Product(Woven Carpets, Tufted Carpets, Knotted Carpets, Needle-Felt Carpet), By Application(Residential, Commercial, Hospitality, Healthcare), By Region - Industry Forecast 2024-2031

Carpet Market Insights

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