The Global Carpets & Rugs Market was valued at USD 88.24 Billion in 2016, and is projected to reach USD 112.69 Billion by 2022, at a CAGR of 4.2%.The carpets & rugs market is growing rapidly in accordance with the growth in the residential and non-residential sectors, globally. Factors such as rise in renovation & remodeling activities, growth in interest of consumers toward interior decoration, and rapid urbanization & globalization are largely contributing toward the growth of the carpets & rugs market.
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Browse 156 market data tables and 33 figures spread through 193 pages and in-depth TOC on "Carpets & Rugs Market"
Tufted segment, by type, to gain maximum share during the forecast period
The tufted segment is estimated to account for the largest share by 2022, mainly because new residential construction and commercial projects are increasingly adopting tufted carpets & rugs. Carpets are lucrative for several reasons such as aesthetic enhancement, improvement of indoor air quality, and noise reduction. Due to the technological advancements, the majority of carpets are made from the recycled fiber. The high demand and rapid growth of this type of carpet are supported by its easy and quick manufacturing process, coupled with reasonable pricing. In addition, tufting is suitable for all types of fibers and yarns and can be made in a variety of finishes. The growing construction industry also provides an opportunity to the market to grow further of the market.
The market for carpets & rugs made from polypropylene is projected to grow at the highest rate during the forecast period
Raw materials such as nylon, polypropylene, and polyester are used for manufacturing carpets & rugs. The high demand can be attributed to this type of fiber's ability to produce versatile designs and patterns, resilience, stain & abrasion resistance, and ability to withstand heavy foot traffic. The polypropylene fiber has relatively lower priced than the other materials used in manufacturing carpets & rugs with resistance to water-based stains, bleaches, and sunlight fading. Also, it can be easily extruded by most manufacturers.
North America is projected to account for the largest share in the Carpets & Rugs Market in 2016
On the basis of key regions, the Carpets & Rugs Market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The North American market accounted for the largest share among all the regions in 2016, in terms of value. However, the growth in the region is projected to trail behind the global average. The U.S. accounted for the largest market share in the North American region in 2016, followed by Canada. The U.S. is also projected to register the highest growth during the forecast period due to the upsurge of housing activities in the country. The North American market has been a leader with respect to product innovation, in terms of quality and application development. The U.S. and Canada are the most developed countries in North America, followed by Mexico.
The global carpets & rugs market is dominated by players such as Mohawk Industries, Inc. (U.S.), Shaw Industries Group (U.S.), Lowe’s Companies, Inc. (U.S.), Taekett S.A. (France), Home Depot, Inc. (U.S.), Interface, Inc. (U.S.), Dixie Group, Inc. (U.S.), Orientals Weavers Company for Carpets (Egypt), Tai Ping Carpets International Limited (China), and Victoria PLC (U.K.). These players adopted various strategies such as acquisitions and expansions to cater to the needs of this market.
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