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Carpets and Rugs Market Size, Share Global Analysis Report, 2023 – 2030
Carpets and Rugs Market Size, Share, Growth Analysis Report By Material (Polypropylene, Polyester, Nylon, Silk, Cotton, Jute, and Others), By Product Type (Tufted, Knotted, Woven, Needle-Punched, and Others), By End-Users (Commercial and Residential), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030
Industry Insights
[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.
Market Overview
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.
Key Insights
- As per the analysis shared by our research analyst, the global carpets and rugs market is estimated to grow annually at a CAGR of around 5.51% over the forecast period (2022-2030)
- In terms of revenue, the global carpets and rugs market size was valued at around USD 82.15 billion in 2022 and is projected to reach USD 126.21 billion, by 2030.
- The market is projected to grow at a significant rate due to the growing demand for attractive home furnishing options
- Based on material segmentation, nylon was predicted to show maximum market share in the year 2022
- Based on end-user segmentation, residential was the leading user in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Growth Drivers
- Increasing demand for home furnishing options to propel market 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.
Restraints
- Environmental concerns surrounding synthetically made products act as a restraint
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.
Opportunities
- Growing research and use of sustainable materials to open more doors for growth
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.
Challenges
- Growing competition from alternative solutions to challenging further growth
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.
Segmentation Analysis
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.
- In 2022, the highest CAGR was observed in the nylon segment because it offers excellent durability, and products using nylon can be made in different shapes and sizes with various designs. In addition, it also offers high resistance to stains
- Polyester is another commonly used material for carpets and rugs due to its inexpensive trading along with being versatile in terms of producing items like rugs
- Silk, on the other hand, is one of the most premium materials used in expensive rugs and carpets. Although the cost of silk-made materials is high, the demand is also growing due to the richness it exudes when used as a decorative item
- On average, a 2*3 rug can cost between a few hundred to a few thousand dollars
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.
- The industry witnessed the highest growth in the residential segment in 2022 due to the presence of a larger consumer database
- Carpets and rugs are generally used in residential settings for practical and aesthetic purposes since they provide warmth and comfort while also improving the air quality and reducing noise
- Typically, the commercial segment opts for the expensive side of the industry when using high-end commercial places
- The Clark Sickle-Leaf Carpet is the most expensive rug ever sold. The auction price was USD 33.7 million in 2013
Recent Developments:
- In September 2022, Jacaranda, a UK-based manufacturer of premium rugs and carpets, launched a new collection, which was the world's first of its kind, of hand-woven products made from TENCEL Lyocell Fibers. The source material is 100% true carbon-zero material while the range is called ‘SEONI’
- In April 2021, Hands, a producer of handcrafted luxury ranges of carpets and rugs, unveiled a range of botanical, wool, and pure silk carpets. The new products are from its highly popular collection called Persian. The range comprises products made with fine arts and complex imagery
- In January 2021, supported by a new initiative called ‘Freedom Manchaha’ undertaken by the Jaipur Rugs and the Prison Department, India, 100 inmates from the Jaipur Central Jail, Dausa Central Jail, and Bikaner Central Jail, launched a new carpet collection
Report Scope
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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Regional Analysis
- North America to dominate due to high consumption rate
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.
Competitive Analysis
- 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.
The global carpets and rugs market is segmented as follows:
By Material Segment Analysis
- Polypropylene
- Polyester
- Nylon
- Silk
- Cotton
- Jute
- Others
By Product Type Segment Analysis
- Tufted
- Knotted
- Woven
- Needle-Punched
- Others
By End-Users Segment Analysis
- Commercial
- Residential
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major 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.
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