Amid the COVID-19 crisis and the looming economic recession, the Carpets and Rugs market worldwide will grow by a projected US$5.5 Billion, during the analysis period
NEW YORK, May 27, 2020 /PRNewswire/ --Amid the COVID-19 crisis and the looming economic recession, the Carpets and Rugs market worldwide will grow by a projected US$5.5 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.2%.
NEW YORK, May 27, 2020 /PRNewswire/ -- Amid the COVID-19 crisis and the looming economic recession, the Carpets and Rugs market worldwide will grow by a projected US$5.5 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.2%. Tufted, one of the segments analyzed and sized in this study, is forecast to grow at over 2.3% and reach a market size of US$28.4 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Tufted market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
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As part of the new emerging geographic scenario, the United States is forecast to readjust to a 1.3% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$114.3 Million to the region's size over the next 7 to 8 years. In addition, over US$135.5 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Tufted segment will reach a market size of US$1.6 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Carpets and Rugs market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 4.6% over the next couple of years and add approximately US$1.9 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Carpets and Rugs market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Al Abdullatif Industrial Investment Company; Axminster Carpets Limited; Balta Group NV; Beaulieu International Group; Brintons Carpets Limited; Cormar Carpet Company; Dream Weaver Carpet; Engineered Floors LLC; Heckmondwike FB; ICE International; Interface, Inc.; Mannington Mills, Inc.; Milliken Floor Coverings; Mohawk Industries, Inc.; Oriental Weavers Group; Scott Group Studio; Shaw Industries Group, Inc.; Societe Ateliers Pinton SARL; Suminoe Textile Co., Ltd.; Tai Ping Carpets International Ltd.; Tarkett S. A.; The Dixie Group; Victoria PLC
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CARPETS AND RUGS MCP-2
MARKET ANALYSIS, TRENDS, AND FORECASTS, JUNE 2
CONTENTS
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Carpets: The Age-Old Visually Appealing and Long-Lasting Floor Covering Option Recent Market Activity The US and China Dominate Global Carpet Production Machine Made Carpets: A Threat to Hand Made Ones? Other Important Carpet Producing Countries Worldwide Hand-Woven Carpets Dominate Production in Asia and the Middle East Market Fortunes Intrinsically Tied to the Global Floor Coverings Market Global Market Outlook Developing Markets Spearhead Current and Future Market Growth India & China Offer Significant Growth Opportunities Global Competitor Market Shares Carpets and Rugs Competitor Market Share Scenario Worldwide (in %): 2020 & 2029 Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
Al Abdullatif Industrial Investment Company (Saudi Arabia) Axminster Carpets Limited (UK) Balta Group NV (Belgium) Beaulieu International Group (Belgium) Brintons Carpets Limited (UK) Cormar Carpet Company (UK) Engineered Floors LLC (USA) Dream Weaver Carpet (USA) J&J Flooring Group LLC (USA) Heckmondwike FB (UK) ICE International (The Netherlands) Interface, Inc. (USA) Mannington Mills, Inc. (USA) Merida Meridian, Inc. (USA) Milliken Floor Coverings (USA) Mohawk Industries, Inc. (USA) Oriental Weavers Group (Egypt) Saif Carpets Pvt. Ltd. (India) Scott Group Studio (USA) Scott Group Custom Carpets (SGCC) Hokanson Carpets (USA) Shaw Industries Group, Inc. (USA) Anderson Tuftex (USA) Societe Ateliers Pinton SARL (France) Suminoe Textile Co., Ltd. (Japan) Tai Ping Carpets International Ltd. (Hong Kong) Tarkett S. A. (France) DESSO Holding BV (The Netherlands) Tandus Centiva Inc. (USA) The Dixie Group, Inc. (USA) Atlas Carpet Mills (USA) Victoria PLC (UK) Thomas Witter Carpets (UK) Victoria Carpets Pty. Ltd. (Australia) Hugh Mackay Carpets (UK)
3. MARKET TRENDS & DRIVERS
Despite Health Concerns and Competition from Hard Surface Flooring, Advent of Innovative Technologies Fuel Market Growth for Carpets and Rugs Carpet Manufacturers Continue to Offer the Best Performance Attributes in their Products Carpets for Cleaner Homes Growing Sales of Higher End Carpets in the Residential Segment Benefit Market Expansion Premium Luxury Rugs Sales Continue to Grow Unique Features to Drive Sales in the Residential Segment Recent Décor Trends and Benefits Offered by Area Rugs for Different Rooms Spur Demand Key Demographics Steady Penetration of Custom Area-Rugs to Benefit Sales Carpet Runners & Area Rugs Digitization of the Marketplace Improve Connectivity with the Consumers, Bodes Well for the Market Area Rug Suppliers & Retailers Focus on both Physical and Digital Presence Online Presence Essential for Survival in the Marketplace Focus on Environmentally Safe and Sustainable Carpets Boost Demand Carpets on the 'Green' Path Carpet Recycling Gains Significant Attention Growing Demand from the Commercial Sector Drive Healthy Market Growth Recovery in the Global New Construction and Renovation Activity Lends Traction to Market Growth Construction Industry Statistical Snapshot 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 Expanding Hospitality Industry Benefits Carpet Tiles Sales Nylon Steadily Lose Ground to Polyester, Polypropylene, and Eco-Friendly Fibers Polyester Fibers Experience an Upward Momentum Soft Handed Fibers Witness Growing Demand Favorable Demographic Trends Strengthen Market Prospects Expanding Global Population Burgeoning Middle Class Population Exponential Increase in Urbanization Rising Standards of Living Self-Cleaning Carpets Magnetic Underlayment Airo Carpets: Fully Recyclable Carpets Stain Resistance Pet Friendly and Waterproof Carpets Carpet Cleaning Technologies Latest Style, Pattern and Color Trends for Carpets: 2018 Carpet Trends in High, Middle and Entry Level Segments Recent Design, Style, and Color Innovations in Rugs Innovations in Carpet Designs: 2016 & 2017 Carpets with 2D Surfaces based on Optical Illusions Mohawk Develops Continuum PET BCF Technology Nanotechnology Based Molecular Carpet Weaving: A Promising Development CAD Systems Improve Carpet Design and Production Efficiencies
4. GLOBAL MARKET PERSPECTIVE
Table 1: Carpets and Rugs Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027 Table 2: Carpets and Rugs Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019 Table 3: Carpets and Rugs Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027 Table 4: Tufted (Product Segment) World Market by Region/Country in US$ Million: 2020 to 2027 Table 5: Tufted (Product Segment) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019 Table 6: Tufted (Product Segment) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027 Table 7: Woven (Product Segment) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027 Table 8: Woven (Product Segment) Historic Market Perspective by Region/Country in US$ Million: 2012 to 2019 Table 9: Woven (Product Segment) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027 Table 10: Other Product Segments (Product Segment) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027 Table 11: Other Product Segments (Product Segment) Region Wise Breakdown of Global Historic Demand in US$ Million: 2012 to 2019 Table 12: Other Product Segments (Product Segment) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS UNITED STATES Market Facts & Figures US Carpets and Rugs Market Share (in %) by Company: 2020 & 2025 Market Analytics Table 13: United States Carpets and Rugs Market Estimates and Projections in US$ Million by Product Segment: 2020 to 2027 Table 14: Carpets and Rugs Market in the United States by Product Segment: A Historic Review in US$ Million for 2012-2019 Table 15: United States Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 CANADA Table 16: Canadian Carpets and Rugs Market Estimates and Forecasts in US$ Million by Product Segment: 2020 to 2027 Table 17: Canadian Carpets and Rugs Historic Market Review by Product Segment in US$ Million: 2012-2019 Table 18: Carpets and Rugs Market in Canada: Percentage Share Breakdown of Sales by Product Segment for 2012, 2020, and 2027 JAPAN Table 19: Japanese Market for Carpets and Rugs: Annual Sales Estimates and Projections in US$ Million by Product Segment for the Period 2020-2027 Table 20: Carpets and Rugs Market in Japan: Historic Sales Analysis in US$ Million by Product Segment for the Period 2012-2019 Table 21: Japanese Carpets and Rugs Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027 CHINA Table 22: Chinese Carpets and Rugs Market Growth Prospects in US$ Million by Product Segment for the Period 2020-2027 Table 23: Carpets and Rugs Historic Market Analysis in China in US$ Million by Product Segment: 2012-2019 Table 24: Chinese Carpets and Rugs Market by Product Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027 EUROPE Market Facts & Figures European Carpets and Rugs Market: Competitor Market Share Scenario (in %) for 2020 & 2025 Market Analytics Table 25: European Carpets and Rugs Market Demand Scenario in US$ Million by Region/Country: 2020-2027 Table 26: Carpets and Rugs Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2012-2019 Table 27: European Carpets and Rugs Market Share Shift by Region/Country: 2012 VS 2020 VS 2027 Table 28: European Carpets and Rugs Market Estimates and Forecasts in US$ Million by Product Segment: 2020-2027 Table 29: Carpets and Rugs Market in Europe in US$ Million by Product Segment: A Historic Review for the Period 2012-2019 Table 30: European Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 FRANCE Table 31: Carpets and Rugs Market in France by Product Segment: Estimates and Projections in US$ Million for the Period 2020-2027 Table 32: French Carpets and Rugs Historic Market Scenario in US$ Million by Product Segment: 2012-2019 Table 33: French Carpets and Rugs Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027 GERMANY Table 34: Carpets and Rugs Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Product Segment for the Period 2020-2027 Table 35: German Carpets and Rugs Historic Market Analysis in US$ Million by Product Segment: 2012-2019 Table 36: German Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 ITALY Table 37: Italian Carpets and Rugs Market Growth Prospects in US$ Million by Product Segment for the Period 2020-2027 Table 38: Carpets and Rugs Historic Market Analysis in Italy in US$ Million by Product Segment: 2012-2019 Table 39: Italian Carpets and Rugs Market by Product Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027 UNITED KINGDOM Table 40: United Kingdom Market for Carpets and Rugs: Annual Sales Estimates and Projections in US$ Million by Product Segment for the Period 2020-2027 Table 41: Carpets and Rugs Market in the United Kingdom: Historic Sales Analysis in US$ Million by Product Segment for the Period 2012-2019 Table 42: United Kingdom Carpets and Rugs Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027 SPAIN Table 43: Spanish Carpets and Rugs Market Estimates and Forecasts in US$ Million by Product Segment: 2020 to 2027 Table 44: Spanish Carpets and Rugs Historic Market Review by Product Segment in US$ Million: 2012-2019 Table 45: Carpets and Rugs Market in Spain: Percentage Share Breakdown of Sales by Product Segment for 2012, 2020, and 2027 RUSSIA Table 46: Russian Carpets and Rugs Market Estimates and Projections in US$ Million by Product Segment: 2020 to 2027 Table 47: Carpets and Rugs Market in Russia by Product Segment: A Historic Review in US$ Million for 2012-2019 Table 48: Russian Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 REST OF EUROPE Table 49: Rest of Europe Carpets and Rugs Market Estimates and Forecasts in US$ Million by Product Segment: 2020-2027 Table 50: Carpets and Rugs Market in Rest of Europe in US$ Million by Product Segment: A Historic Review for the Period 2012-2019 Table 51: Rest of Europe Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 ASIA-PACIFIC Table 52: Asia-Pacific Carpets and Rugs Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027 Table 53: Carpets and Rugs Market in Asia-Pacific: Historic Market Analysis in US$ Million by Region/Country for the Period 2012-2019 Table 54: Asia-Pacific Carpets and Rugs Market Share Analysis by Region/Country: 2012 VS 2020 VS 2027 Table 55: Carpets and Rugs Market in Asia-Pacific by Product Segment: Estimates and Projections in US$ Million for the Period 2020-2027 Table 56: Asia-Pacific Carpets and Rugs Historic Market Scenario in US$ Million by Product Segment: 2012-2019 Table 57: Asia-Pacific Carpets and Rugs Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027 AUSTRALIA Table 58: Carpets and Rugs Market in Australia: Recent Past, Current and Future Analysis in US$ Million by Product Segment for the Period 2020-2027 Table 59: Australian Carpets and Rugs Historic Market Analysis in US$ Million by Product Segment: 2012-2019 Table 60: Australian Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 INDIA Table 61: Indian Carpets and Rugs Market Estimates and Forecasts in US$ Million by Product Segment: 2020 to 2027 Table 62: Indian Carpets and Rugs Historic Market Review by Product Segment in US$ Million: 2012-2019 Table 63: Carpets and Rugs Market in India: Percentage Share Breakdown of Sales by Product Segment for 2012, 2020, and 2027 SOUTH KOREA Table 64: Carpets and Rugs Market in South Korea: Recent Past, Current and Future Analysis in US$ Million by Product Segment for the Period 2020-2027 Table 65: South Korean Carpets and Rugs Historic Market Analysis in US$ Million by Product Segment: 2012-2019 Table 66: Carpets and Rugs Market Share Distribution in South Korea by Product Segment: 2012 VS 2020 VS 2027 REST OF ASIA-PACIFIC Table 67: Rest of Asia-Pacific Market for Carpets and Rugs: Annual Sales Estimates and Projections in US$ Million by Product Segment for the Period 2020-2027 Table 68: Carpets and Rugs Market in Rest of Asia-Pacific: Historic Sales Analysis in US$ Million by Product Segment for the Period 2012-2019 Table 69: Rest of Asia-Pacific Carpets and Rugs Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027 LATIN AMERICA Table 70: Latin American Carpets and Rugs Market Trends by Region/Country in US$ Million: 2020-2027 Table 71: Carpets and Rugs Market in Latin America in US$ Million by Region/Country: A Historic Perspective for the Period 2012-2019 Table 72: Latin American Carpets and Rugs Market Percentage Breakdown of Sales by Region/Country: 2012, 2020, and 2027 Table 73: Latin American Carpets and Rugs Market Growth Prospects in US$ Million by Product Segment for the Period 2020-2027 Table 74: Carpets and Rugs Historic Market Analysis in Latin America in US$ Million by Product Segment: 2012-2019 Table 75: Latin American Carpets and Rugs Market by Product Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027 ARGENTINA Table 76: Argentinean Carpets and Rugs Market Estimates and Forecasts in US$ Million by Product Segment: 2020-2027 Table 77: Carpets and Rugs Market in Argentina in US$ Million by Product Segment: A Historic Review for the Period 2012-2019 Table 78: Argentinean Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 BRAZIL Table 79: Carpets and Rugs Market in Brazil by Product Segment: Estimates and Projections in US$ Million for the Period 2020-2027 Table 80: Brazilian Carpets and Rugs Historic Market Scenario in US$ Million by Product Segment: 2012-2019 Table 81: Brazilian Carpets and Rugs Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027 MEXICO Table 82: Carpets and Rugs Market in Mexico: Recent Past, Current and Future Analysis in US$ Million by Product Segment for the Period 2020-2027 Table 83: Mexican Carpets and Rugs Historic Market Analysis in US$ Million by Product Segment: 2012-2019 Table 84: Mexican Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 REST OF LATIN AMERICA Table 85: Rest of Latin America Carpets and Rugs Market Estimates and Projections in US$ Million by Product Segment: 2020 to 2027 Table 86: Carpets and Rugs Market in Rest of Latin America by Product Segment: A Historic Review in US$ Million for 2012-2019 Table 87: Rest of Latin America Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 MIDDLE EAST Table 88: The Middle East Carpets and Rugs Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027 Table 89: Carpets and Rugs Market in the Middle East by Region/Country in US$ Million: 2012-2019 Table 90: The Middle East Carpets and Rugs Market Share Breakdown by Region/Country: 2012, 2020, and 2027 Table 91: The Middle East Carpets and Rugs Market Estimates and Forecasts in US$ Million by Product Segment: 2020 to 2027 Table 92: The Middle East Carpets and Rugs Historic Market by Product Segment in US$ Million: 2012-2019 Table 93: Carpets and Rugs Market in the Middle East: Percentage Share Breakdown of Sales by Product Segment for 2012,2020, and 2027 IRAN Table 94: Iranian Market for Carpets and Rugs: Annual Sales Estimates and Projections in US$ Million by Product Segment for the Period 2020-2027 Table 95: Carpets and Rugs Market in Iran: Historic Sales Analysis in US$ Million by Product Segment for the Period 2012-2019 Table 96: Iranian Carpets and Rugs Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027 ISRAEL Table 97: Israeli Carpets and Rugs Market Estimates and Forecasts in US$ Million by Product Segment: 2020-2027 Table 98: Carpets and Rugs Market in Israel in US$ Million by Product Segment: A Historic Review for the Period 2012-2019 Table 99: Israeli Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 SAUDI ARABIA Table 100: Saudi Arabian Carpets and Rugs Market Growth Prospects in US$ Million by Product Segment for the Period 2020-2027 Table 101: Carpets and Rugs Historic Market Analysis in Saudi Arabia in US$ Million by Product Segment: 2012-2019 Table 102: Saudi Arabian Carpets and Rugs Market by Product Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027 UNITED ARAB EMIRATES Table 103: Carpets and Rugs Market in the United Arab Emirates: Recent Past, Current and Future Analysis in US$ Million by Product Segment for the Period 2020-2027 Table 104: United Arab Emirates Carpets and Rugs Historic Market Analysis in US$ Million by Product Segment: 2012-2019 Table 105: Carpets and Rugs Market Share Distribution in United Arab Emirates by Product Segment: 2012 VS 2020 VS 2027 REST OF MIDDLE EAST Table 106: Carpets and Rugs Market in Rest of Middle East: Recent Past, Current and Future Analysis in US$ Million by Product Segment for the Period 2020-2027 Table 107: Rest of Middle East Carpets and Rugs Historic Market Analysis in US$ Million by Product Segment: 2012-2019 Table 108: Rest of Middle East Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027 AFRICA Table 109: African Carpets and Rugs Market Estimates and Projections in US$ Million by Product Segment: 2020 to 2027 Table 110: Carpets and Rugs Market in Africa by Product Segment: A Historic Review in US$ Million for 2012-2019 Table 111: African Carpets and Rugs Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027
IV. COMPETITION
Total Companies Profiled: 116
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