Market Overview

Carpets & Rugs: Global Market Analysis (2006, 2011, 2016) and Forecast (2021) - Area Rugs Outperforming Carpet - ResearchAndMarkets.com

Share:

The "Global
Carpets & Rugs by Product, Market and Region"
report has
been added to ResearchAndMarkets.com's offering.

This industry study presents historical demand, production, and net
exports data (2006, 2011 and 2016) and demand forecasts (2021) by
product (tufted carpets and rugs, woven carpets and rugs, and other
carpets and rugs), market (residential buildings, nonresidential
buildings, transportation), and region (North America, Western Europe,
Asia/Pacific, Central and South America, Eastern Europe, and
Africa/Mideast).

The study also evaluates company market share on a global basis and the
competitive strategies of key industry players, such as:

  • Interface
  • International Automotive Components
  • Mohawk Industries
  • Shaw Industries

Increasing Building Construction Activity Drives Growth for
Carpets & Rugs

Growth will be driven by increases in building construction activity and
consumer spending, particularly in the Asia/Pacific region. Rising
product prices will also contribute to sales growth in value terms.

Competition from Hard-Surface Flooring Suppressing Growth

Gains in carpet and rug demand over the 2011-2016 period were
constrained by increased competition from hard-surface flooring
products, particularly luxury vinyl tile (LVT). This was especially
evident in the US -the largest market for carpets and rugs globally-
where growth in hard-surface flooring has significantly outpaced that of
carpets and rugs in recent years. Globally, strong growth for
hard-surface flooring products will continue to restrain advances for
carpets and rugs through 2021.

Area Rugs Outperforming Carpet

Sales of area rugs have been more resistant to erosion by competition
from hard-surface flooring than carpet sales, as area rugs are often
used to complement hard-surface flooring. As a result, demand growth for
woven and other products outpaced tufted products between 2011 and 2016,
and this trend is expected to continue through 2021. Despite the intense
competition, demand for tufted products will be supported by strong
growth for carpet tile, which competes more effectively with
hard-surface flooring in commercial settings.

Asia/Pacific Region to Lead Growth

Growth will be strongest in the Asia/Pacific region, as rapid advances
in building construction activity and motor vehicle manufacturing will
spur demand gains in India and much of Southeast Asia. China will also
post above average growth, although the pace of gains will moderate as
expansion of building construction slows after a period of rapid growth.
In addition, rising standards of living in developing countries
throughout the region will result in a reduction in the share of
buildings with unfinished flooring, supporting higher levels of product
use.

For more information about this report visit https://www.researchandmarkets.com/research/2trb4c/carpets_and_rugs?w=4

View Comments and Join the Discussion!