The Carpets & Rugs Market size is projected to grow from USD 91.60 Billion in 2017 to reach USD 112.69
Billion by 2022, at a CAGR of 4.2%. The global Carpets & Rugs Market is witnessing a growth in demand, owing to the rise in the renovation & remodeling activities, growing interest of consumers toward interior decoration, and rapid urbanization & globalization. The growth in demand from the residential industry also provides an opportunity for market growth, especially in the emerging Asia-Pacific and Middle East & African regions.
The tufted segment is estimated to account for the largest share by 2022, mainly because new residential construction and commercial projects are increasingly adopting tufted carpets & rugs. Carpets are lucrative for several reasons such as aesthetic enhancement, improvement of indoor air quality, and noise reduction. Due to the technological advancements, the majority of carpets are made from the recycled fiber. The high demand and rapid growth of this type of carpet are supported by its easy and quick manufacturing process, coupled with reasonable pricing. In addition, tufting is suitable for all types of fibers and yarns and can be made in a variety of finishes. The growing construction industry also provides an opportunity to the market to grow further of the market.
The market for carpets & rugs made from polypropylene is projected to grow at the highest rate during the forecast period. Raw materials such as nylon, polypropylene, and polyester are used for manufacturing carpets & rugs. The high demand can be attributed to this type of fiber’s ability to produce versatile designs and patterns,
resilience, stain & abrasion resistance, and ability to withstand heavy foot traffic. The polypropylene fiber has relatively lower priced than the other materials used in manufacturing carpets & rugs with resistance to water-based stains, bleaches, and sunlight fading. Also, it can be easily extruded by most manufacturers.dustries,
Inc. (U.S.), Shaw Industries Group (U.S.), Lowe’s Companies, Inc. (U.S.), Taekett S.A. (France), Home Depot, Inc.
(U.S.), Interface, Inc. (U.S.), Dixie Group, Inc. (U.S.), Orientals Weavers Company for Carpets (Egypt), Tai Ping Carpets International Limited (China), and Victoria PLC (U.K.). Companies have adopted strategies such as
acquisitions and expansions to cope with the increase in demand in the emerging markets.