The Global Carpet and Rugs Market Size accounted for USD 82.0 Billion in 2022 and is projected to achieve a market size of USD 135.9 Billion by 2032 growing at a CAGR of 5.3% from 2023 to 2032.
Carpet and Rugs Market Highlights
Carpets and rugs are floor coverings made from various materials such as wool, nylon, polyester, and others. They are available in a wide range of colors, patterns, and textures, making them a popular choice for both residential and commercial spaces. Carpets and rugs offer numerous benefits such as sound insulation, thermal insulation, and slip resistance, making them ideal for homes, offices, hotels, and other places where comfort and safety are paramount.
In recent years, the global carpet and rug market has experienced steady growth due to the increasing demand for home décor and renovation products. The rise in residential and commercial construction activities in emerging economies such as India and China has also contributed to the growth of the market. Additionally, the growing popularity of eco-friendly and sustainable flooring products has driven the demand for carpets and rugs made from natural and recycled materials. Moreover, the COVID-19 pandemic has had a mixed impact on the carpet and rug market. While the initial outbreak caused disruptions in the supply chain and manufacturing operations, the subsequent increase in demand for home renovation and improvement projects during the pandemic has led to a surge in market growth.
Global Carpet and Rugs Market Trends
Carpet and Rugs Market Report Coverage
|Market||Carpet and Rugs Market|
|Carpet and Rugs Market Size 2022||USD 82.0 Billion|
|Carpet and Rugs Market Forecast 2032||USD 135.9 Billion|
|Carpet and Rugs Market CAGR During 2023 - 2032||5.3%|
|Carpet and Rugs Market Analysis Period||2020 - 2032|
|Carpet and Rugs Market Base Year||2022|
|Carpet and Rugs Market Forecast Data||2023 - 2032|
|Segments Covered||By Product Type, By Material, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Mohawk Industries Inc., Shaw Industries Group, Inc., Interface, Inc., Tarkett SA, Beaulieu International Group, Dixie Group Inc., Oriental Weavers Group, Tai Ping Carpets International Ltd., Victoria PLC, and The Home Depot, Inc.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis|
The carpet & rugs industry encompasses businesses that involve manufacturing, designing, and fabricating carpets and rugs for customers. Customers use this for several purposes comprise interior decor to house furnishing. These are produced in industries or mills and fabricated and given smooth finish for the commercial, industrial, and domestic sectors. These products are usually knotted, woven, tufted, and prepared from polypropylene, nylon, or other artificial, synthetic materials. Research and expertise technology used in the carpet and rugs industry emphasizes manufacturing high-quality and eco-friendly products for up-to-date customers' needs.
With emerging growth in the transportation and construction industry and an upsurge in renewal, activities are driving the growth of this market. Also, consumer preference towards patterns without geometrical design and bold eye-catching shades of carpet and rugs are some of the factors driving this market. The major factor which is subjected to limit this market growth is the increasing cost of raw materials. Growing acceptance of carpet tiles, increasing mandate for environmentally friendly carpets, and increasing inclination towards fashionable area rugs are expected to support the growth of this market in the near future.
Carpet and Rugs Market Segmentation
The global carpet and rugs market segmentation is based on product type, material, application, and geography.
Carpet and Rugs Market By Product Type
According to the carpet and rugs industry analysis, the tufted segment accounted for the largest market share in 2022. This segment involves the use of specialized machinery that tufts yarn through a backing material to create a pile or looped texture. The tufted process is highly efficient and allows for a wide range of design options, making it popular among manufacturers and consumers alike. One of the key factors driving the growth of the tufted segment is the increasing demand for affordable yet stylish floor coverings. Tufted carpets and rugs are able to offer a range of design options at relatively low production costs, making them an attractive option for price-conscious consumers. In addition, the tufting process is highly versatile, allowing for the creation of a variety of textures, patterns, and colors that appeal to a broad range of aesthetic preferences.
Carpet and Rugs Market By Material
In terms of materials, the nylon segment is expected to witness significant growth in the coming years. Nylon is a popular synthetic fiber used in the production of carpets and rugs due to its durability, stain resistance, and versatility. It is also an affordable option for consumers looking for a long-lasting floor covering. One of the key factors driving the growth of the nylon segment is its ability to mimic the look and feel of natural fibers such as wool and cotton. Advances in manufacturing technology have allowed for the creation of nylon fibers that are soft, plush, and have a natural appearance. This has led to a rise in demand for nylon carpets and rugs that offer the look and feel of high-end natural fibers at a more affordable price point. Nylon carpets and rugs are highly resilient and able to withstand heavy foot traffic and wear and tear. They are also easy to clean and maintain, making them a popular choice for high-traffic areas in homes and commercial buildings.
Carpet and Rugs Market By Application
According to the carpet and rugs market forecast, the commercial segment is expected to witness significant growth in the coming years. Commercial carpets and rugs are designed for use in high-traffic areas such as offices, hotels, airports, and retail spaces. These products are designed to be durable, stain-resistant, and able to withstand heavy foot traffic and wear and tear. One of the key factors driving the growth of the commercial segment is the increasing demand for sustainable flooring options in commercial spaces. Many commercial carpets and rugs are now made with eco-friendly materials such as recycled fibers or natural materials like wool, which appeal to environmentally-conscious businesses. In addition, commercial carpets and rugs can be made with low VOC emissions, contributing to better indoor air quality in commercial buildings. Another factor contributing to the growth of the commercial segment is the increasing demand for custom-designed flooring solutions.
Carpet and Rugs Market Regional Outlook
The Middle East & Africa
Carpet and Rugs Market Regional Analysis
North America dominates the carpet and rugs market due to several factors. One of the key reasons for this dominance is the high level of consumer demand for carpets and rugs in the region. North American consumers have a long-standing tradition of using carpets and rugs to decorate and warm their homes, and this has created a large and stable market for these products. Another factor contributing to North America's dominance in the carpet and rugs market is the high level of innovation and technological advancement in the region's manufacturing industry. North American manufacturers have invested heavily in state-of-the-art production facilities and machinery, which allows them to produce high-quality carpets and rugs at a competitive price point. This has helped North American manufacturers to maintain their position as market leaders in the face of increasing competition from other regions.
Carpet and Rugs Market Player
Some of the top carpet and rugs market companies offered in the professional report include Mohawk Industries Inc., Shaw Industries Group, Inc., Interface, Inc., Tarkett SA, Beaulieu International Group, Dixie Group Inc., Oriental Weavers Group, Tai Ping Carpets International Ltd., Victoria PLC, and The Home Depot, Inc.
The market size of carpet and rugs was USD 82.0 Billion in 2022.
The CAGR of carpet and rugs is 5.3% during the analysis period of 2023 to 2032.
The key players operating in the global market are including Mohawk Industries Inc., Shaw Industries Group, Inc., Interface, Inc., Tarkett SA, Beaulieu International Group, Dixie Group Inc., Oriental Weavers Group, Tai Ping Carpets International Ltd., Victoria PLC, and The Home Depot, Inc.
North America held the dominating position in carpet and rugs industry during the analysis period of 2023 to 2032.
Asia-Pacific region exhibited fastest growing CAGR for market of carpet and rugs during the analysis period of 2023 to 2032.
The current trends and dynamics in the carpet and rugs industry include increasing demand for home décor and renovation products, growing popularity of eco-friendly and sustainable flooring products, and rise in residential and commercial construction activities.
The nylon material held the maximum share of the carpet and rugs industry.