Carpets and Rugs Market Exhibit a Remarkable CAGR of 5.00% during the forecast period of 2022-2029 and is expected to reachUSD 116.73 million by 2029 ,Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

Global Carpets and Rugs Market was valued at USD 172.47 million in 2021 and is expected to reach USD 116.73 million by 2029, registering a CAGR of 5.00% during the forecast period of 2022-2029.

Market Overview

Carpets and rugs are popular because of their aesthetic and practical qualities. It's an addition to floor coverings that adds to the overall beauty of a house or office's decor. Rugs and carpets protect floors by adding a layer of padding. Rugs and carpets are a blessing for people who live in cold climates because they keep the floor from being too cold. The major applications of carpets and rugs involve commercial, residential and industries. In developed economies, carpets and rugs have higher demand.

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Carpets and Rugs Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increased Renovation and Remodeling Activities

Carpets and rugs are utilized for their aesthetic appeal as well as utilitarian characteristics such as slip prevention and floor heat insulation. Carpets and rugs provide a protective layer to floors in addition to covering them and boosting the overall appearance of home or workplace design.

• Surge in Disposable Income

Carpet and rug demand was at its peak in industrialized economies a few decades ago. However, this trend has shifted in recent years, with people spending more money on making cosmetic changes to their homes or offices. This need has been fueled partly by the easing of the economic crisis, resulting in a renewed desire for carpets and rugs. Furthermore, increased consumer disposable income, particularly in developing countries, is projected to support market expansion.
Furthermore, the increasing interest of consumers toward interior decoration will further propel the growth rate of carpets and rugs market. Additionally, the expansion of the end use industries is projected to bolster the market's growth.

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