Carpet Market: Introduction
Carpet is a textile floor covering which is usually made from either from wool or other synthetic materials such as nylon, polyester etc. Carpet consists of upper layer which is attached to the backing. Traditionally the carpet was made from wool but with the advancement of technology superior durability and cost effectiveness, the alternative materials for wool were found which has inculcated the use of synthetic materials for carpets such as nylon, polyester, acrylics, polypropylene etc. Carpets are manufactured by using different techniques such as weaving, knitting, or tufted. Carpets is used in providing insulations for the floor in the regions with cold climate, apart from insulation the carpets provide aesthetic and decorative look to the floors. In the recent years carpets are used for interior decorations. Despite of other alternatives carpets are widely preferred for interior decoration and furnishing in the residential as well as commercial infrastructure because of the aesthetics of the carpet. Over the years carpets have found their application in the transportation industry especially in automotive & aerospace industry. As compared with synthetic carpets the carpets made from wool and its blends have high price.
Carpet Market: Dynamics
Rapidly growing population and increased urbanization has up surged the growth of building & construction industry and rising real estate investment. The growing building & construction will drive the growth of the carpet market. Increasing disposable income and rising GDP of the developing countries along with higher standard of living are the factors which have positive impact on the interior decoration activities. Increasing activities of interior decoration will increase the demand for carpet. Also the growing renovation and reconstruction activities will boost the carpet market. Increasing automotive production and growing vehicle fleet size will up rise the growth of carpet market. Also the growing electric vehicle production will have a positive impact on the carpet market. Growing sports activities due to the rise in the number of sports enthusiasts will increase the demand for carpets for sports & leisure activities. Fluctuating raw material prices and increasing regulations on the raw materials are the restraining factors for the carpet market. But in the recent years manufacturers are emphasizing on the development of alternative raw materials which are eco-friendly.
Carpet Market: Segmentation
The global carpet market can be segmented on the basis of its product type, raw material type and on the basis of end use.
The global carpet market is segmented on the basis of its product type:
- Needle Felt
The global carpet market is segmented on the basis of its raw material type:
- Wools & its blends
The global carpet market is segmented on the basis of its end use:
- Sports & Leisure
Carpet Market: Regional Outlook
Rapid growth of population has increased the urbanization in the regions such as Asia Pacific, owing to which there is increase in the number of building & construction activities. Also the increasing GDP and rising spending capacity on interior decoration supported by higher standard of living makes Asia Pacific a prominent market for carpet. Regions such as North America & Europe have cold climate, and the rise in renovation and construction activities along with predominance of automotive manufacturers makes North America and Europe promising market regions for carpets. Rising urbanization has increased the building & construction activities in the Latin America also increasing automotive production will make Latin America a potential market for carpet. In regions such as Middle East number of commercial buildings such as hotels is rising and in the region such as Africa building & construction industry is witnessing growth, also the rise in renovation and redesign activities will make Middle East & Africa a strong market for carpet.
Carpet Market: Key Participants
Examples of some of the market participants operating in the global Carpet market are
Tarkket Corporation, Shaw Industries Group, Inc., The carpet maker, Lowe’s Companies Inc., Mohawk Industries, Inc., Feltex Carpets, Saif Carpets, Cormar Carpet Co., Stainmaster, Dixie Group, Inc., Cambridge Mills among others.
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