Carpet and Rugs Market is Predicted to Grow at Approximately 4% CAGR During The Forecast Period 2017-2023
Market research future published a half cooked research report on global Carpet and rugs market. The global market for global Carpet and rugs market is expected to grow over the CAGR of 4% approximately during the period 2017 to 2023.
Pune, India – August 29, 2017 /MarketersMedia/ —
Global Carpet and Rugs Market Information by Material (Nylon, Polyester, Polypropylene), By Type (Woven, Tufted, Knotted, Needle-Punched), By End-Use (Residential, Non-Residential, Automotive & Transportation) And Region – Forecast To 2023
Market Highlights
Carpet and rugs market is expected to grow during the forecast period, owing to the rising preference for modular carpet solutions among end-users. The increase in renovation activities for residential and commercial purposes and the use of carpets and rugs for floor decoration, are also driving the growth of the market. The market is also gaining traction owing to the increase in adoption of carpets and rugs in the countries with cold climatic conditions as they provide thermal insulation benefits.
Market Research Analysis:
Based on type, the tufted segment is expected to dominate the market owing to its increased adoption by the residential construction and commercial projects. The technological advancements have allowed the usage of recycled fiber in manufacturing of carpets and rugs, which is further driving the market for tufted carpets and rugs. Tufting is appropriate for all types of fibers & yarns and can be made in a variety of finishes, which increases the use of such types of carpets and rugs.
On the basis of end-use, the residential segment is expected to grow at the highest CAGR owing to the increase in adoption of carpets for the purpose of floor coverings among residential end-users. Carpets are available in a range of colors and textures, which make them suitable for use by residential end-users in all types of decors. The increasing investment in new housing constructions and the rapid increase in home renovation projects, are driving the growth of the residential sector in the carpets and rugs market.
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Scope of the report
This study provides an overview of the global carpet and rugs market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Carpet and rugs market by its material, type, end-use and region.
By Material
• Nylon
• Polyester
• Polypropylene
By Type
• Woven
• Tufted
• Knotted
• Needle-punched
By End-Use
• Residential
• Non-residential
• Automotive & Transportation
By Region
• North America
• Asia Pacific
• Europe
• Rest of the World
Key Players
The key players of global Carpet and rugs market includes Mohawk Industries, Inc. (U.S.), Taekett S.A. (France), Lowe’s Companies, Inc. (U.S.), Shaw Industries Group (U.S.), Dixie Group, Inc. (U.S.), Home Depot, Inc. (U.S.), Tai Ping Carpets International Limited (China), Interface, Inc. (U.S.), Orientals Weavers Company for Carpets (Egypt), Victoria PLC (U.K.) and others.
Market Synopsis
The carpet and rugs market is expected to grow significantly during the forecast period, owing to factors such as its increase in demand from the residential and non-residential sectors and the rise in the renovation activities in both the residential and non-residential infrastructures. In the regions with very cold temperatures, carpets and rugs help in maintaining the temperature of the floor and also in thermal conductivity. The increase in consumer spending also tends to increase the use of carpets and rugs for bringing aesthetic improvements to home and office spaces. The market is further driven by the increase in awareness of use of eco-friendly materials for carpets.
Based on all types of materials used in the carpets and rugs industry, the market can be segmented as Nylon, Polyester and Polypropylene. Among these, nylon segment is expected to grow the highest during the forecast period. Nylon has superior dust-resistant properties and the rugs and carpets made up of nylon, can be cleaned easily. The carpets made from nylon are of high strength, which make it suitable where there is high foot traffic such as in industrial and commercial carpeting.
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North America is expected to dominate global carpet and rugs market followed by Asia-Pacific. The growth in North America region can be attributed to the increase in the focus of the manufacturers for developing low cost rugs and carpets. The Asia-Pacific region is projected to grow at the highest CAGR due to the existence of developing nations such as India where the number of unorganized manufacturers of carpets and rugs is high. The increase in purchasing power and increase in construction and renovation activities are also driving the growth of the market.
Carpets and rugs are being used by various end-users such as residential, non-residential and automotive & transportation owing to its aesthetic and functional properties. They are used for covering floors and also for improving the appeal of home or office decor. They also act as a protective layer to floors.
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The report for Global Carpet and rugs market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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