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Carpets, the Age-Old Floor Covering Option, Continue to Sustain Market Growth Despite Competition from Hard Surface Products


Published: August 2017

REPORT STATISTICS


  • Code: MCP-2804
  • Pages: 377
  • Tables: 120
  • Companies: 115


CARPETS AND RUGS: A RESEARCH BRIEF

The global market for Carpets and Rugs is projected to exceed US$40 billion by 2024, driven by the encouraging recovery in residential and commercial construction spending and the growing preference for modular carpet solutions. Few of the benefits of carpeted flooring driving adoption rates in the market include higher thermal resistance/R-value and the ensuing energy efficiency benefits; lower noise and sound acoustic effects; improved air quality given carpets low VOC emitting characteristics as against traditional flooring; imparts elegance and style; and low maintenance load. Carpets are also safer with reduced risk of slip-and-fall accidents, a feature benefit that is driving adoption in the growing number of senior housing facilities. The United States and Europe represent large markets worldwide, supported by cold climatic conditions that make warm and comfortable carpets the preferred flooring choice. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 4.8% over the analysis period, led by factors such as presence of leading carpet manufacturing countries such as China and India, rapid urbanization, expanding base of middle class population and the corresponding rise in demand for well provisioned houses, lifestyle upgrades and increased spending on home furnishings and interiors, and robust demand for decorative rugs. 

    Summary of Findings

  • Benefits such as Durability, Reliability and Aesthetic Appeal Drive Preference for Tufted Carpets Among Homeowners
  • Wool, Nylon, Polyester, Olefin (Polypropylene) and Triexta Remain Popular Materials in the Manufacture of Wall-to-Wall Carpeting Solutions
  • Eco-Friendly Carpets Made from Natural and Biodegradable Renewable Fibers Grow in Prominence
  • Ease and Speed in Installation and Higher Economic Value Drive Demand for Carpet Tiles in the Hospitality Sector
  • Innovation in Styles, Colors, Patterns, Designs and Textures Keeps Consumer Interest Alive, a Trend that Bodes Well for Replacement and Upgrades

    Timeline for Analysis

  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil, Mexico, and Rest of Latin America)

    Market Segmentation & Classification

  • Product Segments:
    • Woven Carpets and Rugs, Tufted Carpets and Rugs, Other Carpets and Rugs

MAJOR PLAYERS

  • Al Abdullatif Industrial Investment Company
  • Axminster Carpets Limited
  • Balta Group
  • Beaulieu International Group
  • Brintons Carpets Limited
  • Cormar Carpets

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable