[229+ Pages Report] According to the report published by Facts Factors, the global carpets and rugs market size was worth around USD 82.15 billion in 2022 and is predicted to grow to around USD 126.21 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.51% between 2023 and 2030. The report analyzes the global carpets and rugs market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the carpets and rugs market.
The industry comprises the production and sale of different types of floor coverings that enhance the overall look or aesthetic of the room they are laid down in. These coverings include a range of rugs and carpets which are made of different types of materials like olefin, polyester, cotton, jute, and others. Rugs, carpets, or mats can be designed in different shapes and sizes to meet the ever-changing consumer preference and trends. The industry is responsible for serving both residential and commercial buyers and is inclusive of producers, distributors, wholesalers, and retailers. There are several social and economic factors that influence the industry trend causing the market to witness high or low growth.
The global carpets and rugs market is projected to grow owing to the increasing demand for home furnishing options that assists in improving the ambiance or the look of the house. Carpets and rugs, for a long time, have been dedicatedly used as decorative items. They come with a lineage of royalty while also offering some practical applications. For instance, they are excellent flooring materials and offer safety in situations when the floor is wet.
One of the key contributors to the rising awareness about the advantages of using rugs or carpets is Television shows or social media like Pinterest, Facebook, and Instagram which are currently full of renovation-related ideas inspiring people to choose from a variety of options that are available in the commercial market. Furthermore, the sale of the products on e-commerce or online portals has allowed more access to exclusive rugs and carpets from one corner of the world to another.
Some carpets or rugs are made of synthetic materials like polyester and nylon. Both of these raw materials are considered harmful to the environment since they are not biodegradable and persist in the ecosystem for multiple decades. Furthermore, the production of polyester makes use of petroleum, which is a non-renewable source of energy implying higher pressure on the fuel sector.
One of the key segments where the industry players can expect a higher influx of consumers is the use of sustainable materials for the production of carpets and rugs. For instance, rugs made of jute and cotton are not only aesthetically pleasing but have minimal to no impact on the environment since they can either be reused or degraded on their own while in the environment.
The flooring industry is full of alternatives and substitutes. Every consumer has different preferences and it is difficult to gauge the changing trends as flooring and decorative items are personal choices and thus subject to being dynamic.
Additionally, a growing number of people prefer options like hardwood or laminate floors whereas the demand for flooring tiles is also registering high growth. This is a major challenge for the industry players to tackle.
The global carpets and rugs market is segmented based on material, product type, end-users, and region
Based on material, the global market segments are polypropylene, polyester, nylon, silk, cotton, jute, and others.
Based on product type, the global market divisions are tufted, knotted, woven, needle-punched, and others.
Based on end-users, the global market is segmented into commercial & residential.
Report Attribute |
Details |
Market Size in 2022 |
USD 82.15 Billion |
Projected Market Size in 2030 |
USD 126.21 Billion |
CAGR Growth Rate |
5.51% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
Balta Group, Mohawk Industries, Dixie Group Inc., Shaw Industries, Victoria PLC, Beaulieu International Group, Interface Inc., Stanton Carpet Corporation, The Wool Carpet Company, Tarkett, Tai Ping Carpets International Limited, Axminster Carpets Ltd., Brintons Carpets Limited, Brintons Carpets Limited, Godfrey Hirst, Merinos Hali Sanayi Ve Ticaret AS, and others. |
Key Segment |
By Material, Product Type, End-Users, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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The global carpets and rugs market is projected to witness the highest growth in North America with a CAGR of over 4% during the forecast period. The growth is driven by the high consumption rate of carpets and rugs across residential and commercial segments. The high standard of living along with growing disposable income allows consumers to spend extra money on ensuring that the home ambiance is appealing.
Furthermore, houses in Canada and New York are generally large in carpet size and can fit exquisite rugs or carpets for practical or aesthetic purposes. Furthermore, the increasing import rate of luxurious carpets and flooring options is a major reason for North America to exhibit such a high CAGR. In Asia-Pacific, India is the largest producer and exporter of affordable high-end carpets due to the presence of an ever-expanding and globally popular textile industry.
The global carpets and rugs market is segmented as follows:
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