Carpets And Rugs Market By Product Type (Woven, Tufted, Knotted, Needle-Punched), By Material (Nylon, Polyester, Polypropylene, Cotton, Wool, Silk, Jute), By End-User (Residential, Commercial), & Region For 2024-2031

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Carpets And Rugs Market By Product Type (Woven, Tufted, Knotted, Needle-Punched), By Material (Nylon, Polyester, Polypropylene, Cotton, Wool, Silk, Jute), By End-User (Residential, Commercial), & Region For 2024-2031

Carpets And Rugs Market Valuation – 2024-2031

The Carpets And Rugs Market are a broad part of the home design business, with items ranging from classic handwoven rugs to modern synthetic carpets. Consumer demand is driven by interior design trends, durability and environmentally friendly materials. Globalization is reflected in a diverse range of styles, colours and textures to suit various tastes and preferences. These factors are likely to enable the market size surpass USD 50.89 Billion valued in 2023 to reach a valuation of around USD 106.09 Billion by 2031.

Technological improvements have transformed manufacturing methods, making carpets and rugs more affordable and accessible globally. Sustainability is now a major concern, driving manufacturers to use recycled materials and environmentally beneficial procedures. The market is highly competitive with significant competitors constantly innovating to suit shifting consumer expectations while preserving quality and price. The rising demand for Carpets and Rugs is enabling the market grow at a CAGR of 10.7% from 2024 to 2031.

Carpets And Rugs MarketDefinition/ Overview

Carpets and rugs are textile floor coverings created from materials such as wool, nylon or polyester. They come in a variety of sizes, forms and designs, and are used for both decorative and practical functions in homes, offices, and public settings. These goods add comfort, insulation and aesthetic value to interior spaces.

Carpets and rugs serve several functions in interior design, providing comfort, insulation and aesthetic appeal to living spaces. They minimize noise, give warmth underfoot and define regions of a room. Aside from home use, they are also used in business settings like as companies and hotels to improve ambiance and functionality.

Carpets and rugs are anticipated to evolve in the future to incorporate sophisticated materials that provide increasing durability, stain resistance and sustainability. Smart fabrics that incorporate technology for climate control and health monitoring could become widespread. Also, there may be a greater emphasis on modular designs that facilitate customization and recycling.

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Will Growing Demand for Different Styles of Carpets and Rugs Boost the Carpets And Rugs Market?

The Carpets And Rugs Market are experiencing substantial expansion as its consumer base diversifies. This transition goes beyond conventional styles, as demand now includes a broader spectrum of aesthetics, such as geometric area rugs and textured options for contemporary environments.

Manufacturers are actively catering to this trend by increasing their product offers to include runners for specific applications (such as corridors), useful kitchen mats and low-cost options. This ensures that there is a carpet or rug ideal for any floor type, including wood, laminate and tile.

Urbanization and growing living standards are major drivers of market expansion. Area rugs have a tendency to define functional zones in smaller living spaces in cities. Consumers’ rising emphasis on sustainability is also having an impact on the sector.

This is evident in the growing demand for environmentally friendly carpets made from natural materials such as wool and bamboo. The carpets & rugs market is poise for continuous growth as it proactively addresses style preferences, practicality and environmental considerations.

Will High Raw Material Prices Rules and Increasing Duties by Government to Restrain the Carpets And Rugs Market?

Rising raw material costs and government involvement provide problems to the carpet and rug sector. Fluctuating crude oil prices, which are a key component in synthetic fibers such as nylon, have a direct impact on production costs. This results in higher pricing for consumers, thereby decreasing demand.

Government initiatives make situations more complicated. High import duties raise the cost of finished carpets and rugs, especially when nations like Morocco levy anti-dumping tariffs on imports from major producers such as Egypt and China. These high tariffs (such as the 144% increase on Chinese imports) greatly increase costs, inhibiting market growth.

Basically, the Carpets And Rugs Market are trapped between rising production costs caused by unpredictable raw material prices and trade restrictions that make completed goods less affordable. These elements create a drag on the market’s overall growth potential.

Category-Wise Acumens

Will Cost-Effectiveness and Efficiency in Production Drive the Tufted Carpets and Rugs?

The tufted carpets and rugs category is likely to be a prominent development engine in the overall Carpets And Rugs Market, owing to its inherent cost-effectiveness and efficient production processes. Unlike hand-woven carpets, which take time and work, tufted carpets use robotic techniques to insert yarn loops through a backing material.

This automation reduces labour needs and speeds up production timelines, resulting in decreasing manufacturing costs. Also, these machines offer exceptional creative freedom, allowing for the fabrication of elaborate patterns and a wider range of styles at cheap prices. This immediately answers the rising consumer need for artistically different carpets and rugs while staying within budget.

Developments in tufting technology, such as the incorporation of computer-aided design, further optimize manufacturing process and minimize material waste. Consequently, tufted carpets and rugs provide a compelling offering that combines cost, creative variety and efficient production, cementing their place as a viable competitor for market leadership in the near future.

Will Synthetic Nature Translates to Exceptional Durability Drive the Material Segment?

Okay, so nylon and polyester carpets and rugs are super durable because they're made from synthetic stuff. Think of it this waywhile natural fibers like wool might wear down eventually, these synthetics are built to last! Nylon is strong, so it can handle all the foot traffic in your living room and still look great. And polyester? It's tough against scrapes and tears, which is awesome for those busy hallways. Basically, these materials mean longer-lasting carpets and rugs, which saves you money down the road. Plus, they're stain-resistant. Forget stressing about spills – nylon and polyester don't soak them up like natural fabrics, making them much easier to clean and keeping them looking fresh for longer.

This translates into lesser maintenance requirements, which is especially advantageous in busy houses with pets or children. Overall, nylon and polyester’s synthetic qualities produce long-lasting carpets and rugs, which contributes to their market domination.

Gain Access into Carpets And Rugs Market Report Methodology

Country/Region-wise Acumens

Will Higher Consumer Spending on Home Decor and Interior Furnishings Drive the Market in North America Region?

Increasing consumer expenditure on home design and interior furnishings is a primary driver of the North American Carpets And Rugs Market. This tendency is driven by a variety of causes. when disposable income rises, homeowners are more likely to invest in updating their living areas.

Carpets and rugs are a very inexpensive method to improve the aesthetics and utility of a room, making them an appealing choice for frugal homeowners. Furthermore, the increasing popularity of home improvement shows and internet design inspiration has piqued consumer interest in interior decorating. This translates into a preference for fashionable and visually appealing carpets and rugs that suit overall decor themes.

North American home market dynamics play a role. With a growing number of people purchasing homes, the demand for furniture and furnishings, such as carpets and rugs, rises. These characteristics, together, provide a good prognosis for the North American Carpets And Rugs Market, with consumer spending on home design serving as a substantial development accelerator.

Will Advancements in Manufacturing Capabilities and Technology Drive the Asia Pacific Market?

Developments in production capacities and technology are a significant driver of the Asia Pacific carpets and rugs industry. This region is experiencing a rise in automation, with organizations implementing technology such as tufting machines to dramatically reduce production time and labour costs. This leads into greater efficiency and price, making carpets and rugs more accessible to consumers.

Additionally, these developments provide for increasing design flexibility. Computer-aided design methods enable more elaborate patterns and a greater range of styles, adapting to changing consumer preferences. Also, the Asia Pacific area is a center for novel material development. This encourages the discovery of sustainable and eco-friendly alternatives such as recycled fibers or natural materials, which appeals to environmentally aware consumers. By capitalizing on these developments, the Asia Pacific market is well-positioned for continuing growth and leadership in the carpets and rugs industry.

Competitive Landscape

The Carpets And Rugs Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the Carpets And Rugs Market include

Mohawk Industries Inc., Shaw Industries Group Inc., Tarkett SA, Victoria PLC, Tai Ping Carpets International Limited, Oriental Weavers Company, Beaulieu International Group, Milliken & Company, The Dixie Group Inc., and Interface Inc.

Latest Developments

  • In September 2022, Jacaranda, a U.K.-based rugs and carpet brand, collaborated with Tencel to debut Seoni, the world’s first collection of handwoven rugs and carpets manufactured from 100% carbon-zero Tencel lyocell fibers. The collection aims to promote sustainability in home decorations and furnishings.
  • In March 2022, FLOR, a design trademark by Interface, introduced its first carbon-negative area rugs. The collection includes three stylesstratosphere, hemisphere, and peninsula. The newly introduced rugs combine attractive designs, low carbon footprint, and durability.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2031

Growth Rate

CAGR of ~10.7% from 2024 to 2031

Base Year for Valuation

2023

HISTORICAL PERIOD

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Product Type
  • Material
  • End-User
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

Mohawk Industries Inc., Shaw Industries Group Inc., Tarkett SA, Victoria PLC, Tai Ping Carpets International Limited, Oriental Weavers Company, Beaulieu International Group, Milliken & Company.

Customization

Report customization along with purchase available upon request

Carpets And Rugs Market, By Category

Product Type

  • Woven
  • Tufted
  • Knotted
  • Needle-Punched

Material

  • Nylon
  • Polyester
  • Polypropylene
  • Cotton
  • Wool
  • Silk
  • Jute

End-User

  • Residential
  • Commercial

Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

We take a close look at the market, using both numbers and deeper insights, dividing it up based on financial and other important factors. You'll get clear market values (in USD Billion) for every segment and sub-segment. We'll point out which region and segment we think will grow the fastest and be the biggest overall. Our analysis breaks down each region, showing how much of the product/service is used and what's influencing the market there. We also cover the competitive scene, ranking the major players and highlighting new launches, partnerships, expansions, and acquisitions from the last five years. You'll find detailed company profiles with overviews, insights, product comparisons, and SWOT analyses for the key companies. We give you our view of the current and future market, considering recent events, opportunities, growth drivers, and challenges in both new and established areas. We also dig into the market using Porter's five forces and give you an understanding through the Value Chain. Expect a full picture of market dynamics, including growth opportunities going forward, plus 6 months of support from our analysts after you buy.

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