Carpets and rugs are home improvement aesthetic products that are majorly used for their aesthetics but also offer a variety of functional benefits. Their usage is quite significant in regions that have developed economies due to their high costs, as well as areas where the climate is colder in comparison to other regions of the world as it prevents the floors from being too cold.
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Carpets and rugs market is growing due to rise in the number of renovation & remodeling activities, growing interest of consumers toward interior decoration; the effects of these factors are mentioned below:
Strategic product innovations presented by various market players:
The market is segmented on the basis of type as carpet, rugs; product is categorized into woven, tufted, knotted, needle-punched, flat-weave, hooked, others; materials as synthetic fiber, natural fiber; application as residential, commercial, industrial, and institutional.
“According to Data Bridge Market Research, global carpets and rugs market is expected to be growing with a substantial CAGR of 6.3% during the forecast period of 2019 to 2026”
Some of the major players operating in market are MOHAWK INDUSTRIES, Tarkett, Inter IKEA Systems B.V., Beaulieu International Group, SCOTT GROUP STUDIO, Chemx, CORMAR CARPET COMPANY, HECKMONDWIKE FB, MILLIKEN & COMPANY, Saif Carpets, Balta Industries NV, Engineered Floors LLC, The Dixie Group, Inc, ORIENTAL WEAVERS CARPET COMPANY, Interface, Inc, Haima Group, Victoria PLC, House of Tai Ping, Brintons Carpets Limited, Axminster CARPETS and others.
One of the major users of carpets and rugs are the developed regions of the world, although at the pace with which various developing regions are growing taking part in different construction activities. This growth pace of the developing regions is expected to present the players of carpets and rugs to present a greater focus of their marketing activities on these regions and enjoy the high demand which is to expected in the forthcoming few years.
Global Carpets and Rugs Market – Industry Trends and Forecast to 2028