Global Carpets and Rugs Market is segmented By Type (Carpets, Rugs), By Product (Woven, Needle-punched, Tufted, Knotted, Knitted, Hooked, Braided, Needle-felt, Others), By Raw Material (Synthetic, Natural), By End-User (Residential, Commercial, Industrial, Institutional), and By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Carpets and Rugs Market Overview
The Global Carpets and Rugs Market is expected to grow at a CAGR of 4% during the forecasting period (2024-2031). Carpets and rugs are decorative textiles used for artistic and functional properties. These are made up of thick fibres using different raw materials such as wool, nylon, olefin, cotton, polyester, jute, etc. Carpets and rugs are used as floor covering to enhance the home and office's overall appearance. In cold regions, these floor coverings act as a boon for people as it provides thermal insulation and keep the floor from not getting too cold.
The quintessential style of carpets, hand-knotted, originated from Asian locations, and later these floor coverings were imitated by the European nations. These carpets are constructed by clipping the length of yarn, and the clipped end of the yarn forms the pile of carpet that is tied up in the end in crossways to wraps. For the past few years, the demand for carpets and rugs has been seen in economically developed countries.
They are in great demand in residential, non-residential buildings, and industries. Besides, owing to raising innovation and remodelling activities, the consumer's growing interest in interior decoration has built a huge market of carpets and rugs in Asian countries.
Carpets and Rugs Market Summary
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Metrics |
Details |
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Market CAGR |
4.0% |
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Segments Covered |
By Type, By Product, By Raw Material, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Carpets and Rugs Market Dynamics and Trends
The global carpets and market are majorly driven by increasing demand from residential, non-residential buildings for décor and thermal insulation. Carpets and rugs have heat restraining properties, thus having a huge market in a colder region of the globe.
Increasing demand for carpets and rugs from residential, non-residential buildings for décor purpose
As per the Center for Sustainable Systems 2020 report, between 2000 to 2018, the U.S. population increased by 16.3%, while there has been an increment of 19.5% seen in the number of housing units. These rising numbers of housing units have built a huge market for carpets and rugs in recent years. These floor covering impressed the population inclined towards home decoration and brought sophistication and superiority to the office's four walls. Besides, these carpets and rugs reduce the debris and indoor dirt, making the doors healthier and cleaner.
For instance, in July 2018, Mohawk Industries, Inc. acquired Godfrey Hirst Group, Australia, and New Zealand's leading flooring companies. The acquisition aims further to expand Mohawk's business globally and offer broadloom, hard surface products, and modular carpets for commercial and residential applications.
Increasing demand for carpets and rugs from colder regions of the globe
The carpets and rugs offer heat restraining properties and are best known for maintaining inside space temperature. Besides, to keep the temperature, they reduce the echo and noise in tiled rooms, thus creating lucrative opportunities for carpets and rugs in the globe's colder regions. Wool is one of the leading raw materials used for the manufacturing of carpets.
It provides effective thermal insulation by saving 8-13% of heating cooling costs, and thick carpets offer the greatest insulation on underlays. The thermal advantage of wool carpets comes from the wall's low thermal conductivity, high crimp, and the absorption/release of heat that escorts absorption/release of water vapour. The thermal properties create opportunities for the key players to target a larger base audience in the forecast period.
Companies such as Stevens and Graham, Tai Ping, Stanton carpet corporation, and Wool classics are the leading firms focusing their manufacturing on wool carpets and have generated immense business in regions like North America and the Asia-Pacific.
The arrival of eco-friendly carpets and rugs creates a booming demand for the product in the past few years.
Carpets and rugs are soft underfoot and sound-absorbing, a popular choice for flooring in many residential and commercial buildings. However, these floor covers have shown a huge impact environment due to off-gassing volatile organic compounds and toxic chemicals. It leads to the arrival of eco-friendly carpets in the market by various firms expected to create huge business for carpets and rugs in the timespan mentioned above.
The eco-friendly carpets are created from natural raw materials such as sisal, coir, seagrass, bamboo, organic cotton, and biodegradable. They do not require a high percentage of pesticides and fertilizers for production. Many firms are bringing carpets and rugs by recycling and using pre-and post-consumer plastics such as polyethylene terephthalate (PET), industrial scraps, or bottles.
For instance, in September 2019, Beaulieu flooring solutions launched its first recyclable event carpet-Rewind. It is a unique latex-free carpet specially designed to help the trade show and special events industries go greener. As compared to traditional carpets, in this carpet, no water is used, and gas consumption is cut up to 83% coupled with total Co2 emission reduction by 35%.
COVID-19 Impact on Carpets and Rugs Market
The global carpets and rugs market has seen a huge impact due to the COVID-19 pandemic, as many manufacturing plants were in the shutdown stage for months. Many local players were involved in carpet designing in countries like India, where every home has a loom, and the entire family earns their monthly income by making carpets. However, the sudden arrival of COVID-19 has shut down the local shops and severely impacted local players' businesses.
Further, lockdown's major impact due to the COVID-19 outbreak leads to suddenly dropping down consumers' interest in purchasing any goods and halt in transportation sectors with severely hampered carpets and rugs market business due to disruption in the product's supply chain management.
Carpets and Rugs Market Segmentation Analysis
The global carpets and rugs market is segmented based on type, product, raw material, end-user, and region.
Good resilience, excellent inherent stain resistance, and polyester's eco-friendliness have made it the dominating segment of carpets and rugs industries.
Carpets and rugs can be made from human-made or synthetic fibres such as Acrylic, Triexta, Polypropylene or Olefin, Polyester, Nylon & Others, and Natural fibres such as Silk Wool, Jute, Sisal & Others. Human-made carpets are always preferred over natural fibre as they offer excellent properties at a much affordable rate. Out of the mentioned segments, polyester is considered dominant due to its properties such as fade resistance, stain resistance, affordable cost, and durability. Also, PET polyester is known for its eco-friendly behaviour and can be made from recycled materials such as plastic drink bottles. Companies like Mohawk's Continuum and Shaw's clear Touches are the most firms for collecting carpets from these recycled fibres.
On the other side, polypropylene is expected to show the fastest market growth in the projected period. It offers good stains and excellent resistance from moisture and is best suited for loop pile construction. It is ideal for installations where mildew fungus is a concern and expected to make up to 80%of commercial installations, making it the best-seller shortly.
On 25th November 2020, Autoneum unveiled the Relive-1 carpet made with recycled PET. Relive-1 carpet is an innovative tufted carpet that can match the highest sustainable mobility standards. The Relive-1 offers technology to automotive carpets that give an aesthetic appearance and exceptional environmental performance.
Carpets and Rugs Market Geographical Share
Rising residential and construction buildings, key players in the North American region, have made it the largest growing region for the carpet and rugs market.
The U.S. industry holds about 45% of the world's carpet production in the North American region. Every year more than 13 million units of newly constructed apartments and housing are set up in the U.S. These rising construction units are more likely to uplift the market of carpets and rugs in the forecast period. In addition to the presence of key players in the residential carpet market in the U.S., including Shaw Industries, Mohawk Industries, Dixie Group Inc., and others, create opportunities for the market to target a larger audience base and generate bigger business in the region.
In July 2018, Mohawk Industries, Inc. acquired Godfrey Hirst Group, Australia and New Zealand's based flooring company. The acquisition aims to expand Mohawk's business on a global scale further and offer broadloom, hard surface products, and modular carpets for both commercial and residential applications.
On the other side, the Asia-Pacific is expected to show the fastest growing market in the forecast period as manufacturers based in the region focus on developing low-cost options for carpets and rugs and promoting more local players on the global scale. Increasing construction activities in countries like India, Japan, and China is another factor boosting the demand for carpets and rugs in the Asia-Pacific region.
Carpets and Rugs Companies and Competitive Landscape
The carpets and rugs market is fragmented with the presence of local as well as global companies. Some of the key players contributing to the market's growth include Shaw Industries Group, Mohawk Industries, Inc., Tarkett S.A, Interface, Inc., Oriental Weavers Company, Tai Ping Carpets International Limited, Dixie Group, Inc., Ikea Group, Beaulieu International Group, Milliken & Company and among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the carpets and rugs market globally.
- In September 2029, Oriental Weavers Company came up with an alternative solution to the Chinese rug market by introducing a new Vesper collection, having high texture by combining polypropylene with shrink polyester.
Shaw Industries Corporation
Overview: The company is known to supply carpets, hardwood, resilient laminate, tiles, and stone flooring. These products and synthetic turf are majorly targeting residential and commercial markets across the globe. The company is based in Daltons with a salesforce in the U.S., Chile, China, Mexico, Canada, Brazil, U.K., UAE, France, and India.
Product Portfolio: The company product portfolio includes
- Comfor3t: The company came up with its innovation in soft flooring coverings, reducing virgin material usage as the floor covering is made from 60-80% of recycled content. Comfor3t builds up to 20 years of its commitment to developing the product for the people.
Key Development
- On 30th October 2019, Shaw announced its partnership with Homes For Troops, a non-profit organization that builds and donates specially adapted customers home across the nation for severely injured people after 9/11
- For instance, in 2016, Shaw Industries Group constructed a new carpet tile manufacturing unit in Adairville by investing USD85 million. This expansion of the unit is expected to increase its geographical reach and improve its production capacity.
