Carpets And Rugs Market Is Driven by The Increasing Demand For Home Decor And Interior Aesthetics With A Healthy CAGR Of 5.5% During The Forecast Period Of 2022 To 2030
Research Reports
Sep 27, 2023
Carpets And Rugs Market Insights
According to MRFR analysis, Global Carpets and Rugs market is expected to register a CAGR of 5.5% from 2022 to 2030 and hold a value of over USD 120 billion by 2030. The global carpets and rugs market refers to the worldwide industry involved in the production, distribution, and sale of various types of carpets and rugs. Carpets and rugs are floor coverings made from a variety of materials, including wool, synthetic fibers, silk, cotton, and jute. They are used for both functional and aesthetic purposes in residential, commercial, and industrial settings. The carpets and rugs market encompasses a wide range of products, including area rugs, wall-to-wall carpets, modular carpets, and carpet tiles. These products come in various sizes, patterns, colors, and textures to cater to different customer preferences and interior design needs.
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Regional Analysis
North America has a mature carpets and rugs market, driven by factors such as a strong housing market, increasing renovation activities, and growing demand for home décor products. The United States and Canada are the major contributors to the regional market. The preference for eco-friendly and sustainable carpets and rugs is also gaining traction in this region.
Europe has a significant market for carpets and rugs, with countries like Germany, the United Kingdom, France, and Italy being the key players. The market is driven by factors such as a rise in residential and commercial construction, urbanization, and increasing disposable income. However, strict regulations regarding environmental sustainability and the use of chemicals in carpets and rugs may impact market growth.
Asia Pacific is witnessing rapid growth in the carpets and rugs market due to factors such as urbanization, increasing disposable income, and changing lifestyles. Countries like China, India, Japan, and Australia are major contributors to the regional market. Rising demand for premium carpets and rugs, along with the expansion of the real estate sector, is driving market growth in this region.
Market Segmentation
Global Carpets and Rugs market has been segmented into Product Type, Material, End-Users.
Type Outlook: Woven, Tufted, Knotted, Needle-Punched
Material Outlook: Nylon, Polyester, Polypropylene, Cotton, Wool , Silk , Jute
End User Outlook: Residential, Commercial
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Key Players
Mohawk Industries, Inc. (US), Shaw Industries Group Inc. (US), Genie Carpet Manufacturers (India), Beaulieu International Group (Belgium), Lowe’s (US), Taekett (France), Interface, Inc. (US), Dixie Group, Inc. (US), Tai Ping (China), and Victoria PLC (UK).
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