Carpet and Rugs industry, Future Scope, Analysis, Business Development and CAGR To 2027
Market Overview
The Global Carpet and Rugs industry size is estimated to reach USD 93.6 billion and record a CAGR of 4.75% by the end of 2024.
Market Dynamics
Carpets and rugs are commonly used to cover and decorate floors. Nylon, polyester, cotton, jute, polypropylene, and other raw materials are commonly used in the production of carpets and rugs. Carpets and rugs were previously only utilized in business settings. The demand for carpets and rugs has recently increased dramatically in residential regions. The global carpets and rugs industry has grown significantly in recent years, and this expansion can be attributable to a number of causes. Rapid urbanization in Asia-growing Pacific's economies is expected to be one of the major drivers of the global Carpet and Rugs industry during the forecast period. Furthermore, increased consumer inclination for interior decorating, combined with rising per capita disposable income, is expected to propel the global Carpet and Rugs industry forward throughout the forecast period. Consumers are gravitating for non-geometrical designer patterns and vibrant colors in carpets and rugs, which is expected to drive the global carpet and rug industry in the coming years.
Segmental Analysis
Material type, product type, end use, and region have all been used to segment the worldwide carpets and rugs market.
The market has been divided into nylon, polyester, polypropylene, cotton, wool, silk, jute, and others based on materials.
The market has been divided into woven, tufted, knotted, needle-punched, and other product types. Because of its rising acceptance by residential and commercial building projects, the tufted segment is likely to dominate the market. The use of recycled fiber in carpet and rug manufacturing has become possible thanks to technological improvements, which is driving the market for tufted carpets and rugs even higher. Tufting can be manufactured from a range of fabrics and yarns, and it may be finished in a variety of ways, increasing the popularity of these types of carpets and rugs.
Residential and commercial carpets and rugs make up the worldwide carpets and rugs market. Because of the increased adoption of carpets for the purpose of floor coverings among residential end-users, the residential segment is predicted to develop at the fastest CAGR. Carpets come in a variety of colors and textures, making them suitable for usage in a variety of decors by residential end-users. The residential sector of the carpets and rugs industry is growing due to increased investment in new house development and a rapid increase in home renovation projects.
Regional Analysis
North America, among the regions, accounted for a considerable portion of the worldwide carpets and rugs market in 2018. The United States is predicted to maintain its dominance in North America over the projected period, with a moderate growth rate. One of the major factors driving the growth of the carpets and rugs market in the United States is customer interest in interior décor. In addition, increased restoration and remodeling operations in the real estate sector in the United States have resulted in a tremendous demand for carpets and rugs in recent years.
Competitive Dynamics
Mohawk Industries, Inc. (US), Tarkett S.A (France), Shaw Industries Group, Inc. (US), Lowe’s Companies, Inc. (US), Genie Carpet Manufacturers (India), Dixie Group, Inc. (US), Tai Ping Carpets International Limited (Hong Kong), Oriental Weavers Carpet Co. (Egypt), Victoria PLC (UK), Interface, Inc. (US), Royalty Carpet Mills, Inc. (US), Ikea Group (Netherlands), Engineered Floors LLC (US), Milliken & Company (US), Beaulieu International Group (Belgium), are some of the top players operating in the global Carpet and Rugs industry.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
Email: sales@marketresearchfuture.com
Carpet and Rugs industry, Future Scope, Analysis, Business Development and CAGR To 2027
Market Overview
The Global Carpet and Rugs industry size is estimated to reach USD 93.6 billion and record a CAGR of 4.75% by the end of 2024.
Market Dynamics
Carpets and rugs are commonly used to cover and decorate floors. Nylon, polyester, cotton, jute, polypropylene, and other raw materials are commonly used in the production of carpets and rugs. Carpets and rugs were previously only utilized in business settings. The demand for carpets and rugs has recently increased dramatically in residential regions. The global carpets and rugs industry has grown significantly in recent years, and this expansion can be attributable to a number of causes. Rapid urbanization in Asia-growing Pacific's economies is expected to be one of the major drivers of the global Carpet and Rugs industry during the forecast period. Furthermore, increased consumer inclination for interior decorating, combined with rising per capita disposable income, is expected to propel the global Carpet and Rugs industry forward throughout the forecast period. Consumers are gravitating for non-geometrical designer patterns and vibrant colors in carpets and rugs, which is expected to drive the global carpet and rug industry in the coming years.
Segmental Analysis
Material type, product type, end use, and region have all been used to segment the worldwide carpets and rugs market.
The market has been divided into nylon, polyester, polypropylene, cotton, wool, silk, jute, and others based on materials.
The market has been divided into woven, tufted, knotted, needle-punched, and other product types. Because of its rising acceptance by residential and commercial building projects, the tufted segment is likely to dominate the market. The use of recycled fiber in carpet and rug manufacturing has become possible thanks to technological improvements, which is driving the market for tufted carpets and rugs even higher. Tufting can be manufactured from a range of fabrics and yarns, and it may be finished in a variety of ways, increasing the popularity of these types of carpets and rugs.
Residential and commercial carpets and rugs make up the worldwide carpets and rugs market. Because of the increased adoption of carpets for the purpose of floor coverings among residential end-users, the residential segment is predicted to develop at the fastest CAGR. Carpets come in a variety of colors and textures, making them suitable for usage in a variety of decors by residential end-users. The residential sector of the carpets and rugs industry is growing due to increased investment in new house development and a rapid increase in home renovation projects.
Regional Analysis
North America, among the regions, accounted for a considerable portion of the worldwide carpets and rugs market in 2018. The United States is predicted to maintain its dominance in North America over the projected period, with a moderate growth rate. One of the major factors driving the growth of the carpets and rugs market in the United States is customer interest in interior décor. In addition, increased restoration and remodeling operations in the real estate sector in the United States have resulted in a tremendous demand for carpets and rugs in recent years.
Competitive Dynamics
Mohawk Industries, Inc. (US), Tarkett S.A (France), Shaw Industries Group, Inc. (US), Lowe’s Companies, Inc. (US), Genie Carpet Manufacturers (India), Dixie Group, Inc. (US), Tai Ping Carpets International Limited (Hong Kong), Oriental Weavers Carpet Co. (Egypt), Victoria PLC (UK), Interface, Inc. (US), Royalty Carpet Mills, Inc. (US), Ikea Group (Netherlands), Engineered Floors LLC (US), Milliken & Company (US), Beaulieu International Group (Belgium), are some of the top players operating in the global Carpet and Rugs industry.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
Email: sales@marketresearchfuture.com
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