The carpet market was worth USD 52,1 Billion in 2019. It is predicted that it will reach USD 74.1 Billion by 2028. CAGR 2019-2028: 4.7% The market share for residential end users was at the forefront in 2019. It is expected to remain dominant during the forecast period.
Impact of COVID-19 on Carpets a Market:
The market for carpets was negatively affected by the recent coronavirus epidemic. To stop the spread, the government established a nationwide lockdown. This resulted in significant disruptions to the supply chain and also disrupted production. Due to government restrictions placed on restaurants, offices, and hotels, carpet demand dropped significantly. The COVID-19 pandemic caused disruption in the distribution chain.
E-commerce is essential for expanding the supply chain and distribution channel. People have stopped shopping in-store due to the possibility of spreading coronavirus disease.
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Carpet Market Growing Demand:
The demand for carpets in the aerospace and aviation industries is rising. This is driving demand for the Carpet Market. The following areas are where carpet manufacturers are located: marine, industrial, sports, aviation, and marine. Carpets are more popular than ceramics or wood due to their attractive qualities and proven presence, especially in the residential market. The growth of construction investment has led to an increase in carpet market demand.
Market growth could be hindered by volatility in raw material prices and increased health-related concerns. Future opportunities for carpet manufacturers in emerging countries like India, China, and Brazil will be lucrative. This will include increased government investment in building and renovations of airports, government buildings, and hospitals. These regions with high growth are expected to increase demand for carpets in Europe and the United States.
Carpet Market Driving Factors:
There are many market opportunities in the region. These opportunities include increased end-use uses, product and process innovations in carpet designs, and increasing demand for these products. Due to the rising popularity of artificial grass in outdoor sports fields and other outdoor uses, the Middle East market for carpets will continue to grow.
The expected rise in construction investments between 2014-2020 is another factor that will drive growth in Middle East’s carpet market.
Carpet Market Restraining Factors:
Fluctuating raw material prices and stricter regulations have hindered the growth of carpet markets. Manufacturers have been looking for eco-friendly alternatives to their raw materials in recent years.
Carpet Market Recent development:
- The Tarkett Group and Reader’s Wholesale Distributors entered a distribution partnership in January 2022. Reader’s represents the robust product line of the company’s residential and commercial customers in southern Texas, Louisiana, and central and South Mississippi. To meet the needs of these customers, we are expanding our distribution channels.
- Mannington Commercial has unveiled a brand new line of carpets, including rubber, luxury vinyl tiles (LVT), and resilient sheet lines. It was launched on June 20, 2022, by Mannington Commercial. To reduce carbon dioxide emissions, the company uses cradle-to-gate manufacturing. These products will help accelerate the company’s supply chain and decarbonize operations.
- Mohawk Industries, Inc. has launched SmartStrand, a carpet line that includes a mix of nylon, wool, and fiber. The company now has a broad range of products, which allows them to target more customers and increase sales.
Carpet Market Key Companies:
- Shaw Industries
- Oriental Weavers
- Dixie Group
- Dongsheng Carpet Group
- Jiangsu Kaili Carpet
- Shanhua Carpet
- Haima Carpet
- TY Carpet
- COC Carpet
- Shenzhen Meijili Carpet
Carpet Market Segmentation:
- Needle felt
Carpet Market Key questions:
- What is the future market value of the Carpets Market in the future?
- What is the growth rate of the Global Carpets Market?
- Which are the key players in the Carpet Market?
- Which region is responsible for the largest share of the Carpet Market’s revenue?
Carpet Market Related Report:
- Global Carpet Cleaning Products Market Statistics, Growth Potential and Forecast 2020-2029
- Global Boat Carpet And Floor Covering Market Data and Statistics 2022 | Innovation Focus on Business Planning Growth up to 2029
- Global Marine Carpets Market Shares and Statistics, Challenges | Key Business Strategies, Demand and Forecast by 2029
- Global Modular Carpet Tiles Market Growth and Statistics | Exhibits a Stunning Growth by 2029
- Global Carpet Backing Materials Market Facts and Statistics Research and Future Growth by 2029
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