Press release
Carpets and Rugs Market Set to Surpass USD 56.82 Billion by 2032
Carpets and Rugs Market
The global carpets and rugs market is projected to grow from USD 39.35 billion in 2024 to USD 56.82 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period . This growth is fueled by increasing urbanization, rising disposable incomes, and a growing emphasis on interior aesthetics in both residential and commercial spaces.
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◉ Global Carpets and Rugs Market Competitive Landscape
Key players in the market include Mohawk Industries, Shaw Industries Group, Interface Inc., Tarkett S.A., and Dixie Group. These companies are focusing on product innovation, sustainable materials, and strategic partnerships to strengthen their market positions.
◉ Global Carpets and Rugs Market Regional Demand Highlights
North America dominated the carpets and rugs market with a market share of 36.93% in 2024 . However, the Asia-Pacific region is expected to witness significant growth due to rapid urbanization, a booming real estate sector, and changing consumer preferences towards aesthetically pleasing and functional floor coverings.
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◉ Global Carpets and Rugs Market Country-Specific Developments
Vietnam: Growth Opportunities in Carpets and Rugs Market
Vietnam's growing tourism industry and increasing investments in the hospitality sector are driving demand for high-quality carpets and rugs. The country's focus on enhancing interior aesthetics in hotels and resorts presents significant growth opportunities for market players.
Thailand: Trends in Luxury Carpets
Thailand is experiencing a surge in demand for luxury carpets and rugs, particularly in the hospitality and residential sectors. The integration of traditional Thai designs with modern aesthetics is a notable trend in the market.
Japan: Consolidation in Sustainable Flooring Solutions
Japanese manufacturers are consolidating efforts to develop sustainable and eco-friendly carpets and rugs. Innovations in recyclable materials and low-emission production processes are gaining traction in the market.
South Korea: Updation of Interior Design Preferences
South Korea's interior design landscape is evolving, with a growing preference for minimalist and contemporary styles. This shift is influencing the demand for modern, sleek carpet and rug designs.
Singapore: Opportunities in Smart Home Integration
Singapore's smart home market is expanding, creating opportunities for carpets and rugs integrated with smart technologies, such as heating elements and sensors, enhancing comfort and functionality.
United States: Growth Driven by Home Renovation Trends
The U.S. market is witnessing growth due to increased home renovation activities and a rising focus on personalized interior design. Consumers are seeking customized carpet and rug solutions to match their unique preferences.
China: Trends in Digital Printing and Customization
China is leading in the adoption of digital printing technologies for carpets and rugs, allowing for greater customization and intricate designs. This trend caters to the growing demand for personalized home decor.
Europe: Consolidation and Innovation in Eco-Friendly Materials
European manufacturers are focusing on consolidating their market positions by investing in eco-friendly materials and sustainable production methods. The emphasis on environmental responsibility is shaping product development strategies.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/carpets-and-rugs-market/187345/
◉ Carpets and Rugs Market Segment Analysis
by Products Type
Woven
Tufted
Knotted
Needle-Punched
Flat-Weave
Hooked
Other
by Application
Residential
Commercial
Automotive applications
by Material
Nylon
Wool
Silk
Polyester
Triexta
Acrylic
Polypropylene
Other
the market can be segmented into wool, silk, cotton, jute, and others. The wool segment accounted for the largest market share in 2024. Wool material is the most user-friendly material in terms of handmade carpets because it is suitable for all places in a home. The segment's growth is due to its durability, natural insulation properties, and aesthetic appeal.
by Distribution Channel
Offline
Online
◉ Recent Mergers and Acquisitions
Mohawk Industries acquired Godfrey Hirst Group, enhancing its presence in the Asia-Pacific region and expanding its product portfolio.
Shaw Industries Group partnered with Anderson Tuftex to launch a new line of luxury carpets, combining innovative designs with sustainable materials.
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