Top Trends in Carpets & Rugs Market to 2022 - Investment to Reach USD 112.69 Billion Jump at 4.2% CAGR, Led by Interior Decoration, Residential Sector and Renovation of Houses

Emerging region for carpets & rugs markets such as the Asia-Pacific region have contributed to an increase in the application of carpets & rugs in the construction industry. High prices of raw materials is a restraining factor for the carpets & rugs market.

The global carpets & rugs market was valued at USD 88.24 Billion in 2016, and is projected to reach USD 112.69 Billion by 2022, at a CAGR of 4.2%. The base year considered for the study is 2016, with the market size projected from 2017 to 2022. The primary objective of the study is to define, segment, and project the carpets & rugs market size on the basis of type, material, end-use sector, and region.

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It starts with raw material suppliers such as Mohawk Industries, Inc. (U.S.), Shaw Industries Group (U.S.), Lowe’s Companies, Inc. (U.S.), Taekett S.A. (France), and Home Depot, Inc. (U.S.) that are the manufacturing companies of the carpets & rugs. The next level in the chain involves the assembly team that is monitored by manufacturers such as Interface, Inc. (U.S.), Dixie Group, Inc. (U.S.), Orientals Weavers Company for Carpets (Egypt), Tai Ping Carpets International Limited (China), and Victoria PLC (U.K.).

The following are the major objectives of the study.
• To define, segment, and project the carpets & rugs market on the basis of type, material, end-use sector, and region
• To project the size of the market and its sub segments in terms of value and volume, with respect to the five main regions (along with their respective key countries), namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa
• To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, industry-specific challenges, and industry trends)
• To strategically analyze the micromarkets with respect to the individual growth trends, future prospects, and contribution to the total market
• To analyze the opportunities in the market for the stakeholders and provide a competitive landscape of the market leaders
• To analyze the competitive developments such as acquisitions, expansions, and new product launches in the carpets & rugs market
• To strategically profile the key players and comprehensively analyze their core competencies

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Asia-Pacific region is projected to be the fastest-growing market during the forecast period, followed by Middle East & Africa. In Asia-Pacific, China is estimated as the largest consumer for carpets & rugs, followed by India. China, with its growing residential & non-residential sector of the construction industries, is expected to drive the carpets & rugs market.

Industry Trends
1 Introduction
2 Supply Chain Analysis
3 Prominent Companies
4 Small & Medium Enterprises
5 Macro Economic Indicator
6 Rising Population
7 Increase in Middle-Class Population, 2009–2030
8 Developing Economics, GDP (Purchasing Power Parity), 2015
9 GDP & Contribution to the Construction Industry, By Country

The report defines, segments, and projects the carpets & rugs market size on the basis of type, material, end-use sector, and region. The study analyzes competitive developments such as acquisitions, expansions, new product developments, and research & development activities in the carpets & rugs market.

More Information “Carpets & Rugs Market by Type (Tufted, Woven, Needle-punched, Knotted), Material (Nylon, Polyester, Polypropylene), End-use Sector (Residential, Non-residential, Automotive & Transportation), and Region - Global Forecast to 2022” report at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=1088566 .

The high demand and rapid growth of this type of carpet are supported by its easy and quick manufacturing process, coupled with reasonable pricing. In addition, tufting is suitable for all types of fibers and yarns and can be made in a variety of finishes.

The distribution of primary interviews is as follows:
• By Company Type: Tier 1 - 31%, Tier 2 - 37%, and Tier 3 - 32%
• By Designation: C level - 65% and Manager level - 35%
• By Region: North America - 25%,Europe - 28%, Asia-Pacific - 22%, South America- 10%, and Middle East & Africa- 15%

Tufted type of carpets & rugs is projected to grow at highest CAGR between 2017 and 2022. Increasing demand from residential & non-residential sectors is driving expansion of tufted type of carpet in carpets & rugs market. Tufted carpets account for majority share of carpets & rugs market, since they are extremely sturdy and hard wearing as well as quick and easy to manufacture.

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This release was published on openPR.