- Due to its excellent moisture and stain moisture resistance,
olefin material category is anticipated to observe high growth in
the near future
- North American consumers are more likely to want to get more
out of their interior design options for their residences and
workplaces, which is likely to drive the regional market at a rapid
pace during the forecast period
WILMINGTON, Del., July 7, 2022 /PRNewswire/ -- The worth of
the global carpets & rugs market was clocked at US$ 77.23 Bn in 2021. Carpet industry statistics
estimated the market to grow at a CAGR of 5% during the forecast
period, from 2022 to 2031. The global carpets & rugs market is
anticipated to attain value of US$ 123.73
Bn by 2031. The future of carpet industry is likely to
be driven by the increase in building activities in both developing
and developed countries throughout the world. The global carpets
and rugs market is being driven by people's increased preference
for higher aesthetic quality in their homes and places of
business. Important suppliers are investing more on R&D and
concentrating on creating technologically superior carpets and
rugs.
In order to deliver high-value goods to their customers,
manufacturers have introduced cutting-edge technologies and
environmentally friendly materials. The selling of carpets and rugs
is expected to increase through e-commerce platforms
and online channels, which is likely to result in more
opportunities for market participants. Carpet market research
predicts that considerable rise in construction activities in the
Asia Pacific region is
anticipated to emerge as a leading application in the global
carpets & rugs market throughout the forecast period.
Rugs and carpets are utilized in both home and business settings
because they offer a layer of cushioning to protect flooring. They
also improve the overall design of a home or office space, which is
expected to present growth to the top carpet manufacturers &
suppliers. Additionally, rugs and carpets prevent the floor from
being too chilly in the winter. Due to growing urbanization,
increasing building activity, rising consumer expendable
income, and rising demand for furnishings in developing
nations, the global carpet & rug market is anticipated to
expand at a reasonable pace during the forecast timeframe.
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Key Findings of Market Report
- Rugs and carpets provide functional qualities including slip
resistance and heat insulation. Carpets are essential for
residential dwellings in several places due to the frigid
temperatures. After conducting research, Wools of New Zealand found that carpets offer nearly
ten times as much insulation as hard floor surfaces. As such, the
use of rugs and carpets is anticipated to increase in the years to
come.
- Since modern interiors are becoming more popular, consumers are
willing to spend more money on aesthetic enhancements to their
workplaces and homes. This is raising the demand for rugs and
carpets. Additionally, it is anticipated that rising disposable
income, particularly in developing nations, would stimulate the
industry.
- The carpets category is anticipated to account for a sizable
portion of the market and is likely to expand at a rapid pace
throughout the projected period. Innovative products are being
introduced by international carpet producers and retailers to
satisfy consumer demand. The main reason why carpets are preferred
over rugs is due to their various beneficial properties and this is
likely to increase global carpet market size.
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Global Carpets & Rugs Market: Growth Drivers
- Of all the material categories, nylon is predicted to expand at
the fastest pace during the projection period since it is
stain-resistant and robust carpet fiber. Additionally, owing to
their toughness, nylon carpets are perfect for high-traffic areas
including stairwells and corridors.
- The Asia Pacific is
anticipated to account for a leading market share of the global
carpet & rug market during the projected timeframe. This can be
mostly attributed to the rise in building and construction
activities as well as the rise in expendable income of the local
populace. India and China are two of the top manufacturers and
exporters of carpets worldwide.
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Global Carpets & Rugs Market: Key Players
Some of the key market players are
- Tai Ping Carpets International Ltd
- Mohawk Industries, Inc.
- Shaw Industries Group, Inc.
- Marquis Industries, Inc.
- Balta Industries NV
- Tarkett Group
Global Carpets & Rugs Market: Segmentation
Product Type
Method of Construction
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Category
- Man-made
- Machine-made
- End User
- Residential
- Commercial
Material
- Nylon
- Olefin (polypropylene)
- Polyester
- Wool
- Jute
- Cotton
- Others
Price
Distribution Channel
- Direct Sales
- Indirect Sales
- Online
Browse Latest Consumer Goods & Services Market Research
Reports by TMR:
Rugs Market - North
America is the largest market in the global rugs industry,
accounting for 5.1% of the total revenue. Europe was the second largest market in 2018,
generating around 5.4% of the total rugs revenue globally.
Carpet Yarn Market - The global carpet yarn market is
expected to surpass the value of US$ 26.8
Bn by the end of 2031, expand at a CAGR of 5.14% from 2021
to 2031
Flooring Market - The global demand for flooring stood
nearly US$ 274 Bn in 2018 and is
projected to reach over US$ 473 Bn by
2027
Fancy Yarn Market - Fancy Yarn Market is expected to expand
at a healthy CAGR of ~6% during the forecast period.
Mattress and Mattress Component Market - The global
mattress and mattress component market is expected to reach
US$ 71.31 Bn and US$ 42.32 Bn by the end of 2031
Mattress Topper Market - The global mattress topper market
is estimated to exceed the value of US$ 1.7
Bn by 2031, expanding at a CAGR of 7% during the forecast
period
Personal Care Appliances Market - The revenue generated by the
personal care appliances market stood at ~US$ 82.8 Bn in 2018, and the market is expected
to expand at a CAGR of over ~3% in terms of value during the
forecast period
High Visibility Clothing Market - High Visibility Clothing
Market is expected to surpass value of US$
2.9 Bn by the end of 2031, it is estimated to grow at a CAGR
of 6.5% from 2022 to 2031.
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research
company providing custom research and consulting services. TMR
provides in-depth insights into factors governing demand in the
market. It divulges opportunities across various segments based on
Source, Application, Sales Channel, and End-Use that will favor
growth in the market over the next 9 years.
Our data repository is continuously updated and revised by a
team of research experts, so that it always reflects the latest
trends and information. With a broad research and analysis
capability, Transparency Market Research employs rigorous primary
and secondary research techniques in developing distinctive data
sets and research material for business reports.
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