DUBLIN, Aug. 8, 2022 - The "Carpets and Rugs - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Carpets and Rugs Market to Reach $38.8 Billion by 2026

Demand in the market is set to be driven by new technologies aimed at improving durability and aesthetics; healthy demand from the commercial sector, increasing popularity of modular carpet solutions, increasing demand for premium carpets and rise in new construction and renovation activity globally. Modern carpets offer higher levels of comfort as compared to the old ones. Memory foam is the new option for carpet flooring and prevents moisture.

While demand for carpets has been adversely impacted by the growing interest in hard-surface flooring, sales of area rugs however have been relatively unaffected, given that these rugs are generally used to enhance the appearance of hard-surface flooring. Growing acceptance of carpet-tiles and contemporary area-rugs has also been contributing significantly to overall market growth.

Amid the COVID-19 crisis, the global market for Carpets and Rugs estimated at US$33.6 Billion in the year 2022, is projected to reach a revised size of US$38.8 Billion by 2026, growing at a CAGR of 3.3% over the analysis period.

The U.S. Market is Estimated at $10.6 Billion in 2022, While China is Forecast to Reach $4.6 Billion by 2026
The Carpets and Rugs market in the U.S. is estimated at US$10.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$4.6 Billion by the year 2026 trailing a CAGR of 4.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.


Residential Application Segment to Reach $24.1 Billion by 2026
In residences, the main purpose of carpets and rugs is for thermal and sound insulation and improvement of aesthetic appeal of the interiors. Demand in the market is set to be driven by the level of housing renovations and new residential constructions, with strong growth in renovations and sales of newly constructed structures translating to higher demand for carpets. In the global Residential Application segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment.


Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Advent of Innovative Technologies Drive Market Growth
Carpet Manufacturers Continue to Offer the Best Performance Attributes in their Products
Carpets Designed for Cleaner Environment
Innovations Continue to Drive Growth
Self-Cleaning Carpets
Airo Carpets: Fully Recyclable Carpets
Stain Resistant Carpets
Pet Friendly and Waterproof Carpets
Select New Innovative Models
Carpets with 2D Surfaces based on Optical Illusions: A Noticeable Trend
Nanotechnology Based Molecular Carpet Weaving: A Promising Development
Growing Sales of Higher End Carpets in the Residential Segment Benefit Market Expansion
Premium Luxury Rugs Garner Interest
Recent Decor Trends and Benefits Offered by Area Rugs for Different Rooms Spur Demand
Steady Penetration of Custom Area-Rugs to Benefit Sales
Carpet Runners & Area Rugs
Digitization of the Marketplace Improve Connectivity with the Consumers
Area Rug Suppliers & Retailers Focus on both Physical and Digital Presence
Online Sales Channel Gains Share
Focus on Environmentally Safe and Sustainable Carpets Boost Demand
Carpet Recycling Gains Significant Attention
Rise in Demand from the Commercial Sector Drive Healthy Growth
Rising Energy Costs and Pressing Need for Energy Efficiency Drive Demand for Carpets
Ease and Speed of Installation along with Other Benefits Drive Consumer Interest in Carpet Tiles
Drop in Hospitality Industry Hits Demand for Carpets and Rugs
Carpet Fiber Trends
Polyester Fibers Experience an Upward Momentum
Soft Handed Fibers Witness Growing Demand
CAD Systems Improve Carpet Design and Production Efficiencies
Carpets Find Increasing Use in Transport Sector
Favorable Demographic Trends and Macro Drivers Strengthen Market Prospects
Retailers Change Strategies to Adapt to Millennials
Expanding Global Population
Burgeoning Middle Class Population
Exponential Increase in Urbanization
Rising Standards of Living
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Companies Mentioned

Al Abdullatif Industrial Investment Company
Axminster Carpets Limited
Balta Group NV
Beaulieu International Group
Brintons Carpets Limited
Cormar Carpet Company
Engineered Floors LLC
Dream Weaver Carpet
J&J Flooring Group LLC
Heckmondwike FB
ICE International
Interface, Inc.
Mannington Mills, Inc.
Merida Meridian, Inc.
Milliken Floor Coverings
Mohawk Industries, Inc.
Oriental Weavers Group
Saif Carpets Pvt. Ltd.
Scott Group Studio
Shaw Industries Group, Inc.
Anderson Tuftex
Societe Ateliers Pinton SARL
Suminoe Textile Co., Ltd.
Tai Ping Carpets International Ltd.
Tarkett S. A.
DESSO Holding BV
Tandus Centiva Inc.
The Dixie Group, Inc.
Atlas Carpet Mills
Victoria PLC
Thomas Witter Carpets
Victoria Carpets Pty. Ltd.
Hugh Mackay Carpets
For more information about this report visit https://www.researchandmarkets.com/r/skl33f

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