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The global carpet market reached a value of US$ 58.05 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 74.06 Billion by 2027, exhibiting a CAGR of 4.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Carpets are decorative textiles used for covering hard-surface floorings. They are available in a wide variety of shapes, patterns, colors, textures and sizes. Carpets are usually manufactured using woven fiber, tufted wool, polyester, cotton, silk, olefin, nylon and other synthetic materials. They are used for producing cut loop, loop pile, shag and plush pile carpets. Modern carpet variants are also made using memory foams that provide enhanced comfort to the consumer and prevent moisture retention. Due to the cushioned surface, the carpets absorb sounds, provide additional warmth and offer a non-slip surface. They are also treated with static, stain and soil resistant chemicals, thereby making these carpets easy to clean and maintain. As a result, they are widely used across residential, commercial and industrial constructions.
Significant growth in the construction industry and the increasing development of residential and commercial complexes, especially in the developing economies, are creating a positive outlook for the market. There is a shifting consumer preference toward non-geometrical and abstract designer patterns on carpets and other decorative products to beautify interiors. In line with this, the widespread adoption of environment-friendly carpets manufactured using sustainable materials is also contributing to the growth of the market. Various advancements, such as the advent of nylon featuring cationic technology, which reduces the number of dye sites in the fiber and aids in improving stain resistance, are acting as other growth-inducing factors. Product manufacturers are also utilizing innovative fiber materials to increase the strength, durability, colorfastness, dyeing flexibility and abrasion and soil resistance of the carpet. Other factors, including rising expenditure capacities of the consumers, along with rapid urbanization, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global carpet market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on material, price point, sales channel and end user.
Breakup by Material:
Breakup by Price Point:
Breakup by Sales Channel:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Armstrong Flooring Inc., Balta Industries nv., Beaulieu International Group, Brumark, Dorsett Industries, Interface Inc., Mannington Mills Inc., Milliken & Company, Mohawk Industries Inc., Shaw Industries Group Inc. (Berkshire Hathaway Inc.), Tarkett and Victoria PLC.
|Base Year of the Analysis||2021|
|Segment Coverage||Material, Price Point, Sales Channel, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Armstrong Flooring Inc., Balta Industries nv., Beaulieu International Group, Brumark, Dorsett Industries, Interface Inc., Mannington Mills Inc., Milliken & Company, Mohawk Industries Inc., Shaw Industries Group Inc. (Berkshire Hathaway Inc.), Tarkett and Victoria PLC|
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We expect the global carpet market to exhibit a CAGR of 4.2% during 2022-2027.
The growing demand of carpet across residential, commercial, and industrial sectors, along with the rising consumer inclination towards non-geometrical and abstract designer patterns on carpets to beautify interiors is currently driving the global carpet market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units of carpets.
Based on the material, the global carpet market has been segmented into nylon, olefin, polyester, and others. Currently, nylon holds the majority of the total market share.
Based on the price point, the global carpet market can be divided into economy and luxury, where economy currently exhibits a clear dominance in the market.
Based on the sales channel, the global carpet market has been categorized into supermarkets and hypermarkets, specialty stores, and online stores. Amongst these, specialty stores account for the majority of the global market share.
Based on the end user, the global carpet market can be segmented into residential and commercial. Currently, the residential sector accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global carpet market include Armstrong Flooring Inc., Balta Industries nv., Beaulieu International Group, Brumark, Dorsett Industries, Interface Inc., Mannington Mills Inc., Milliken & Company, Mohawk Industries Inc., Shaw Industries Group Inc. (Berkshire Hathaway Inc.), Tarkett, and Victoria PLC.
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