According to the latest report by IMARC Group, titled “Carpet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global carpet market exhibited moderate growth during 2015-2020. A carpet is a thick floor covering made using wool, jute fiber, or artificial synthetic fibers. It assists in reducing the impact of slips and falls, minimizing noise, and providing warmth and comfort. As it is available in a variety of colors, patterns, and textures, its utilization is increasing across the residential and commercial sectors across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Carpet Market Trends:
Increasing construction activities represents one of the key factors positively influencing the demand for carpets worldwide. They offer better aesthetics, value and performance compared to other flooring options. As a result, they are considerably being utilized by designers and architects around the world. Furthermore, the growing awareness about the emissions of volatile organic compounds (VOCs) and other toxic components from carpets has propelled leading players to introduce eco-friendly carpets using natural, renewable fibers, such as sisal, seagrass, coir, and organic cotton. They are also introducing hypoallergenic, stain-resistant, waterproof, and pet-friendly carpets, which are creating a favorable market outlook. Looking forward, IMARC Group expects the market to expand at a CAGR of around 4% during the forecast period (2021-2026).
- Based on the material, the market has been segregated into nylon, olefin, polyester, and others.
- On the basis of the price point, the market has been bifurcated into economy and luxury.
- Based on the sales channel, the market has been classified into supermarkets and hypermarkets, specialty stores, and online stores. At present, specialty stores hold the biggest market share.
- On the basis of the end user, the residential segment dominates the market, followed by the commercial.
- Region-wise, the market has been categorized into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
- The competitive landscape of the market has been examined, with some of the key players being AFI Licensing LLC, Balta Industries NV, Beaulieu International Group, Brumark, Dorsett Industries, Inc., Interface, Inc., Mannignton Mills, Inc., Milliken & Company, Mohawk Industries, Inc., Berkshire Hathaway Inc., Tarkett Group, and Victoria PLC.
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