Carpet Market Size, Share, Industry Overview, Trends, Analysis, Latest Insights and Forecast 2023-2028

May 19, 2023 vishu

IMARC Group, a leading market research company, has recently releases report titled “Carpet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the global carpet market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the carpet market?

Report Attributes	Details
Market Size in 2022	US$ 60.3 Billion
Market Forecast in 2028	US$ 77.2 Billion
Growth rate (2023 to 2028)	CAGR of 4.27%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is Carpet?

Carpet is a popular flooring option that offers comfort, warmth, and aesthetic appeal to residential and commercial spaces. It consists of a layer of fabric, typically made of fibers such as wool, nylon, polyester, or a blend of these materials, which is attached to a backing material. One of the significant benefits of carpet is its ability to provide a soft and cushioned surface underfoot. This makes it a comfortable flooring option, especially in areas where people spend a lot of time standing or walking, such as living rooms, bedrooms, and offices. The cushioning effect of the carpet also helps absorb sound, reducing noise levels and creating a quieter environment. Carpets come in a wide variety of colors, patterns, textures, and pile heights, thus allowing for customization to suit different design preferences and functional requirements. In addition to comfort, carpet provides insulation properties that help to retain heat and improve energy efficiency. It acts as a thermal barrier, preventing heat loss through the floor, which can lead to reduced heating costs during colder seasons. Carpet also offers a range of design possibilities. With countless options in terms of color, pattern, and texture, it can enhance the overall aesthetic of a space, thus creating a warm and inviting atmosphere. From neutral tones to bold hues and intricate patterns, carpets provide versatility in interior design, allowing for cohesive room decor or eye-catching focal points. Furthermore, carpets can trap dust, allergens, and other particles, thus effectively improving indoor air quality. The fibers act as filters, trapping these particles until they can be removed through regular vacuuming or professional cleaning. This can be beneficial for individuals with allergies or respiratory sensitivities.

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What are the growth prospects and trends in the carpet industry?

The increasing construction and renovation projects, across both the residential and commercial sectors, represents a significant factor driving the market growth across the globe. In line with this, the rise in the demand for flooring options, including carpets, to enhance the aesthetics and functionality of spaces, is driving the market growth. In addition to this, the rising disposable income and urbanization, along with increasing consumer expenditure in home decor are contributing to the growth of the market. In line with this, the availability of a wide range of colors, patterns, and textures in carpets with evolving design preferences, and the rising desire for aesthetically pleasing and visually appealing spaces is driving the demand for carpets in residential and commercial settings. The market is also being driven by the increasing awareness of indoor air quality and the impact of flooring materials on health. Apart from this, the rising demand for carpets made from recycled materials or natural fibers that have a minimal environmental impact is facilitating the market growth. Other factors, including the development of improved products with enhanced features, such as stain resistance, durability, ease of maintenance, and the increasing demand for comfort and insulation properties, are creating a positive outlook for the market.

Who are the key players operating in the industry?

The report covers the major market players including:

Armstrong Flooring Inc.
Balta Industries nv.
Beaulieu International Group
Brumark
Dorsett Industries
Interface Inc.
Mannington Mills Inc.
Milliken & Company
Mohawk Industries Inc.
Shaw Industries Group Inc. (Berkshire Hathaway Inc.)
Tarkett
Victoria PLC

Key Market Segmentation:

The report has segmented the global carpet market on the basis of material, price point, sales channel, end-user and region.

Breakup by Material:

Nylon
Olefin
Polyester
Others

Breakup by Price Point:

Economy
Luxury

Breakup by Sales Channel:

Supermarkets and Hypermarkets
Specialty Stores
Online Stores

Breakup by End User:

Residential
Commercial

Breakup by Region:

Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

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