Carpet Market Industry Overview, Business Insights, Key Factors & Market Strategies, Forecast to 2028

The global carpet market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The increasing exports of carpets are anticipated to drive the growth of the global carpet market. According to the data published by Indian Trade Portal, nearly 75.0- 85.0% of carpets manufactured in India are exported. India is responsible for around 40.0% of the global export of handmade carpets. Moreover, the exports of carpets from India had stood at $1.37 billion in 2020. The total carpet export accounted for $1.3 billion between April 2020 and February 2021. In addition, the carpet export in the month of February 2021 alone was $136.21 million. Furthermore, the Jammu & Kashmir (J&K) Government had launched a QR-code-based mechanism for certification and labeling of handmade carpets of J&K. As per the Governor of J&K, such new policies and decisions of the government are anticipated to take J&K's carpet exports to $130 million by 2025. Thus, the rising exports of carpets are anticipated to fuel the demand for the global carpet market.

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Looking toward the demand for carpets, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in February 2020, Interface Inc. launched a carpet collection called Guest rooms, for the hospitality segment. The collection integrates patterns, textures, and nature-inspired colors to enrich the home. These carpets are assembled into color palettes that evoke the distinct shades of nature such as lighted pink, winter chill, morning haze, and windswept terrain. In addition, the carpets are designed in 19 patterns in plank and square styles. Moreover, the Guest Rooms Collection is made from recycled nylon and is part of the Carbon Neutrals Floors program, which excludes the carbon emissions associated with the life cycle of its products. Therefore, such launches are anticipated to drive the growth of the global carpet market during the forecast period.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Material
o By End-User
o By Price Point
o By Distribution Channel

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Armstrong Flooring Inc., Bershire Hathaway, Inc. (Shaw Industries Group, Inc), and Mohawk Industries, Inc. among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Carpet Market Report by Segment

By Material
• Nylon
• Olefin
• Polyester
• Others

By End-User
• Residential
• Commercial

By Price Point
• Economy
• Luxury

By Distribution Channel
• Hypermarket & Supermarket
• Specialty Store
• Online Sales Channel

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About Us:

Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.