Global Carpet Market to Reach $110.2 Billion by 2033, Led by Nylon Segment Growth

According to a new report published by Allied Market Research, titled, "Carpet Market Size, Share, Competitive Landscape and Trend Analysis Report, by Material, by End User, by Price Point, by Sales Channel : Global Opportunity Analysis and Industry Forecast, 2024-2033". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The carpet market was valued at $63.4 billion in 2023, and is projected to reach $110.2 billion by 2033, growing at a CAGR of 5.7% from 2024 to 2033.

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The increase in need for sustainable and green goods is a primary driver, with both consumers and producers prioritizing environmentally responsible operations. This transition has resulted in the creation of carpets produced from reused supplies, organic fibers, and low-VOC adhesives, which cater to a rising consumer segment concerned about environmental effects. In addition, technical improvements have transformed the business, with breakthroughs including higher resistance to stains, antimicrobial treatments, and enhanced resilience making carpets attractive to a wider audience. Furthermore, the development in urbanization and the associated increase in building both residential and commercial projects is driving up carpet market demand as a favored flooring option owing to their aesthetic variety and comfort.

Carpets are textile floor coverings used to improve the aesthetics of the floor space. Carpets consist of an upper layer of a pile with a backing attached to it. Synthetic fibers such as polypropylene, nylon, or polyester are widely used for building piles. Carpets are available in many shapes, sizes, patterns, textures, and materials. The key factors that drive the growth of the carpet market include the growth of the hospitality industry, upsurge in affordability, technological innovations, and advancements in carpet fibers.

Moreover, solutions according to the specific requirements of customers are estimated to revolutionize the carpet market in upcoming years. However, factors such as the availability of cost-effective counterparts and browning, pile reversal, split seam, and tearing of carpets are expected to impede the carpet market growth. Furthermore, smart carpets and advanced fiber materials have gained huge traction in recent years, which in turn is anticipated to create lucrative opportunities for market expansion.

Durability, softness, stain, and pet resistance are the current basic prerequisites when purchasing carpets. As a result, new technologies and innovations have led to significant improvements in performance while providing elegant patterns and color options. Innovation in fabrics such as the introduction of nylon featuring cationic technology reduces the number of dye sites in the fiber and aids in stain resistibility. In addition, 100% solution-dyed PET fiber aids in the reduction of shedding and increases the durability of the carpet. Furthermore, the invention of strong nylon fiber specially designed for carpets has resulted in strength, resiliency, colorfastness, abrasion resistance, cleanability soil resistance, and dyeing flexibility. Currently, the carpets available in the market are equipped with Magic Fresh technology, which aids in neutralizing common household odors.

Smart carpets have gained wide traction among consumers in the global market. Smart fabrics are now being used to make carpets that can detect temperature, motion, vibration, and pressure. These smart carpets have a network of optical fibers, which bends when an individual steps on it, and aids in mapping the walking pattern of an individual. The carpets are equipped to predict a fall or a sudden incident from the patterns of walking. Furthermore, these smart carpets can warn of intruders by observing unusual patterns and can also detect environmental threats, such as chemical spills or fires.

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The carpet market is segmented into material, end user, sales channel, price point, and region. On the basis of material, the market is classified into nylon, olefin, polyester, and others. Depending on the end user, the market is bifurcated into residential and commercial. On the basis of sales channel, the market is studied across hypermarkets & supermarkets, specialty stores, and online sales channels. On the basis of price point, the market is categorized into economy and luxury. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Players operating in the carpet market have adopted various developmental strategies to expand their carpet industry market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Armstrong Flooring, Inc., Balta Group, Beaulieu International Group N.V., Berkshire Hathaway, Inc., Brumar, Dorsett industries, Mannington Mills, Inc., Mohawk Industries, Inc., Tarkett S.A., and The Dixie Group.

Industry Trends:

➢ In February 2024, Tarkett recently expanded its QuickShip program for its carpet range. This program includes 73 soft surface goods carefully selected for dealers, architects, and designers. The program offers the?items to?be delivered anywhere in the nation within five working days.

➢ In September 2023, Shaw Industries Group, Inc. announced an exciting cooperation with the Classen Group, a pioneering hard surface flooring company based in Germany recognized for its PVC-free solutions designed for residential as well as commercial uses. Shaw will sell Classen Group's newest line of commercial flooring items exclusively in North America as part of this strategic relationship.

➢ In February 2024, Shaw Contract created Creative Zone, an innovative carpet tile set measuring 24 x 24. This collection was inspired by the intriguing moments seen in everyday life and has been thoughtfully designed to support a variety of learning contexts.

Key Benefits For Stakeholders:

➢ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the carpet market analysis to identify the prevailing carpet market opportunities.
➢ The market research is offered along with information related to key drivers, restraints, and opportunities.
➢ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis of the carpet market segmentation assists to determine the prevailing market opportunities.
➢ Major countries in each region are mapped according to their revenue contribution to the global market.
➢ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
➢ The report includes the analysis of the regional as well as global carpet market trends, key players, market segments, application areas, and market growth strategies.

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