Report Code: CMI22226

Published Date: January 2023

Pages: 220+

Category: Homecare & Decor

Report Snapshot

CAGR: 6.2%
17B
2021
18.35B
2022
29.17B
2030

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific

Major Players

  • Mohawk Industries Inc.
  • Shaw Industries Group Inc.
  • Inter IKEA Systems B.V.
  • Beaulieu International Group
  • Others

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Reports Description

According to Custom Market Insights (CMI), “Asia Carpets and Rugs Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis. As per research, the Asia carpets and rugs market was estimated at around USD 17 Billion in 2021 and is expected to reach USD 18.35 Billion in 2022 growing at a CAGR of nearly 6.2% during 2022-2030. The market is projected to reach approximately USD 29.17 Billion by 2030.

Carpets and rugs Market: Overview

A carpet is a type of textile floor covering that generally has an upper layer of pile linked to a backing. Traditionally, the pile was formed of wool, but during the twentieth century, synthetic fibres such as polypropylene, nylon, or polyester have been commonly utilized since they are less expensive than wool. The pile of the carpet is often made up of knotted tufts that are heat-treated to keep their structure.

A rug is a thick, heavy piece of cloth with a nap or pile that is used as a floor finish. Rugs are smaller in size than carpets and are intended to cover a limited area. The growing consumer preference for interior decor, along with rising spending power, has enhanced the Asia appeal of carpets and rugs.

Carpets and Rugs Market: COVID–19 Impact Analysis

The lack of quality raw materials such as wool, nylon, and polyester in different carpet and rug manufacturing countries from all around the globe during the pandemic, owing to the closure of international borders, to contain the spread of the COVID-19 virus had negatively impacted the supply chains and hampered the export & imports of carpets and rugs across the globe. This created a barrier to the growth of the industry as the production process was hampered due to a lack of labour and raw material. Additionally, the Asia population was focused on accumulating the necessities during the lockdown period and was not interested in purchasing interior decorative items such as carpets and rugs.

Therefore, the COVID-19 pandemic had a negative impact on the revenues of the market, however, it is expected with the ongoing vaccination drives in different parts of the globe, and with the ease of lockdown the demand for carpets and rugs is expected to increase as consumers interest for decorative products will rise just like the pre-COVID era.

Asia Carpets and Rugs Market: Growth Drivers

Increase in infrastructure construction and development.

The expansion in infrastructure construction and development activities throughout the world, particularly in the Asia-Pacific area, has raised the demand for carpets and rugs. The need for furnishing items is growing in both residential and commercial areas for the betterment of businesses and residences. According to the India Brand Equity Foundation (IBEF), the Indian real estate sector is expected to reach $1 trillion by 2030, up from $200 billion in 2021, representing 13% of the country’s GDP by 2025.

Carpets and rugs are becoming more popular because they provide functional benefits such as slip resistance and thermal insulation. Carpets are essential for residential dwellings in various cold-climate zones of Asia-Pacific due to the freezing conditions. The use of wool in the production of carpets adds value to the product. These factors are projected to fuel the rugs and carpets demand in the Asia-Pacific region in the coming years.

Increase in urbanization and globalization.

Customers are more interested in modern interiors for their homes and workplaces, and as a result, they are more inclined to spend more on implementing aesthetic upgrades to their houses or offices. This is fueling the requirement and demand for carpets and rugs. Furthermore, a rise in individual disposable income, particularly in emerging nations, is expected to enhance the industry.

According to worldbank.org, metropolitan areas are home to around 55% of the world’s population or more than 4.2 billion people. This trend is expected to continue and the share of individuals living in metropolitan areas is expected to increase. Furthermore, government rules and policies promoting carpet and rug production are boosting the industry. The carpet business has long served as a source of livelihood for many families in several nations, such as Afghanistan. Afghanistan’s Carpet Manufacturers’ Union officials hope to develop the carpet manufacturing business from 18 to 34 regions. As a result, the industry for carpets and rugs is expected to expand in the future years.

Asia Carpets and Rugs Market 2022–2030 (By Material)

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AsiaCarpets and Rugs Market: Segmentation Analysis

The Asia carpets and rug market is segmented based on type, material, end-user, and region. On the basis of type, it is segmented into tufted, woven needle-punched, knotted, and others. Based on the material, it is segregated into nylon, polyester, polypropylene, and others. On the basis of type, it is segmented into residential, non-residential, and automotive & transportation. Region-wise, it is analyzed across Asia-Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific).

According to the Asia carpets and rugs market analysis, based on type, the woven segment gained a major share in 2021 and is expected to sustain its market share during the forecast period as the availability of woven carpets is higher compared to the other types of carpet and the population is highly interested in getting a hands-on experience of the woven carpets as its highly durable. In addition, the introduction of colourfully designed carpets has encouraged consumers to go for the product. Growth in the popularity and feasibility of woven carpets propels sales of carpets and rugs among the population across the globe.

According to the Asia carpets and rugs market, based on material, the nylon segment gained a major share in 2021 and is expected to sustain its market share during the forecast period. Nylon carpet fibre is the most prevalent, accounting for 90% of domestic carpets and 65% of all carpets. Nylon carpet fibre is an excellent choice for high-traffic areas since it is long-lasting, static-free, and resistant to soiling, discolouration, and mildew. Colour is retained in nylon fibres for a longer period of time. It is available in both continuous and spun fibres. Spun yarn is created by spinning together small lengths of fibre and continuous strands are less prone to unravel.

According to Asia carpets and rugs market trends, based on end-user, the residential segment gained a major share in 2021 and is expected to sustain its market share during the forecast period. A consistent increase in disposable income and growing interest in high-quality carpets and rugs is increasing the support for the sales of carpets and rugs in the residential sector during the forecast period.

The growing consumer interest in home remodelling initiatives such as the replacement of worn or out-of-style carpets and rugs is increasing the attractiveness and sales of carpets and rugs. The installation of new upholstery increases the aesthetic and value of a property, thus, the sales of carpets in the residential sector are the highest.

On the basis of country, China dominated the carpets and rugs market in 2021 and is expected to remain dominant during the forecast period. The market’s supremacy is attributed in large part to customers’ extensive product knowledge and the region’s growing interest in high-quality carpets and rugs. China is distinguished by a high level of disposable income, growing construction and renovation activities, and a strong demand for colourfully designed carpets and rugs. All of these factors increase the popularity of carpets and rugs in the region.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 17 Billion
Projected Market Size in 2030 USD 29.17 Billion
Market Size in 2022 USD 18.35 Billion
CAGR Growth Rate 6.2% CAGR (2022-2030)
Base Year 2023
Forecast Period 2024-2033
Prominent Players Mohawk Industries Inc., Shaw Industries Group Inc., Inter IKEA Systems B.V., Beaulieu International Group, Engineered Floors LLC, Taekett, Genie Carpet Manufacturers, Dixie Group Inc., Orientals Weavers, Tai Ping, Victoria PL, and Others
Key Segment By Type, Material, End-User, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Insights:

  • Based on type segmentation, the woven segment is estimated to hold the largest market share during the forecast period.
  • Based on material segmentation, the nylon segment is estimated to hold the largest market share during the forecast period.
  • Based on end-user, the residential segment is the leading revenue-generating category during the forecast period.
  • On the basis of geography/region, China was the leading revenue generator in 2021.

Recent Development

  • In May 2020, Steelcase-owned Coalesse, a U.S.-based carpet manufacturer partnered with Spanish rugs company Nanimarquina to launch the Nanimarquina collection of handcrafted for domestic and commercial applications.
  • In April 2022, Victoria Plc the international designer, manufacturer, and distributor of innovative flooring completed the acquisition of the highly profitable and growing rugs division of Balta Group, the Belgium-based flooring company.

Asia Carpets and Rugs Market 2022–2030 (By Billion)

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Regional Landscape

Throughout the projection period, the Asia-Pacific region is likely to remain one of the most appealing regions, accounting for the bulk of market revenue. China stands out for its high level of disposable money, increased interest in home decorative items, and growing construction & renovation activities. All of these reasons contribute to a greater demand for carpets and rugs. Furthermore, market development is being driven by the rise of e-commerce platforms and greater investment in distribution channels. The introduction of new handmade knotted carpets in the market is expected to entice the consumer’s interest and increase the sales of the product.

Competitive Landscape

Our report offers both quantitative and qualitative insights into the carpets and rugs market and major development initiatives adopted by the key players. Further, it offers competitive details and market share analysis. The report further includes relevant financial information, products and services offered, SWOT analysis, and recent developments of the players profiled.

Asia Carpets and Rugs Market 2022–2030 (By End-User)

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The Asia carpets and rugs market is segmented as follows:

By Type

  • Tufted
  • Woven
  • Needle-Punched
  • Knotted
  • Others

By Material

  • Nylon
  • Polyester
  • Polypropylene
  • Others

By End-User

  • Residential
  • Non-Residential
  • Automotive & Transportation

By Region

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Asia Carpets and Rugs Market, (2022 – 2030) (USD Billion)
    • 2.2 Asia Carpets and Rugs Market: snapshot
  • Chapter 3. Asia Carpets and Rugs Market – Industry Analysis
    • 3.1 Asia Carpets and Rugs Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increase in construction
      • 3.2.2 Renovation activities that accelerate the market’s growth.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Material
      • 3.7.3 Market attractiveness analysis By End-User
  • Chapter 4. Asia Carpets and Rugs Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Asia Carpets and Rugs Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Asia Carpets and Rugs Market – Type Analysis
    • 5.1 Asia Carpets and Rugs Market overview: By Type
      • 5.1.1 Asia Carpets and Rugs Market share, By Type, 2021 and 2030
    • 5.2 Tufted
      • 5.2.1 Asia Carpets and Rugs Market by Tufted, 2022 – 2030 (USD Billion)
    • 5.3 Woven
      • 5.3.1 Asia Carpets and Rugs Market by Woven, 2022 – 2030 (USD Billion)
    • 5.4 Needle-Punched
      • 5.4.1 Asia Carpets and Rugs Market by Needle-Punched, 2022 – 2030 (USD Billion)
    • 5.5 Knotted
      • 5.5.1 Asia Carpets and Rugs Market by Knotted, 2022 – 2030 (USD Billion)
    • 5.6 Others
      • 5.6.1 Asia Carpets and Rugs Market by Others, 2022 – 2030 (USD Billion)
  • Chapter 6. Asia Carpets and Rugs Market – Material Analysis
    • 6.1 Asia Carpets and Rugs Market overview: By Material
      • 6.1.1 Asia Carpets and Rugs Market share, By Material, 2021 and 2030
    • 6.2 Nylon
      • 6.2.1 Asia Carpets and Rugs Market by Nylon, 2022 – 2030 (USD Billion)
    • 6.3 Polyester
      • 6.3.1 Asia Carpets and Rugs Market by Polyester, 2022 – 2030 (USD Billion)
    • 6.4 Polypropylene
      • 6.4.1 Asia Carpets and Rugs Market by Polypropylene, 2022 – 2030 (USD Billion)
    • 6.5 Others
      • 6.5.1 Asia Carpets and Rugs Market by Others, 2022 – 2030 (USD Billion)
  • Chapter 7. Asia Carpets and Rugs Market – End-User Analysis
    • 7.1 Asia Carpets and Rugs Market overview: By End-User
      • 7.1.1 Asia Carpets and Rugs Market share, By End-User, 2021 and 2030
    • 7.2 Residential
      • 7.2.1 Asia Carpets and Rugs Market by Residential, 2022 – 2030 (USD Billion)
    • 7.3 Non-Residential
      • 7.3.1 Asia Carpets and Rugs Market by Non-Residential, 2022 – 2030 (USD Billion)
    • 7.4 Automotive & Transportation
      • 7.4.1 Asia Carpets and Rugs Market by Automotive & Transportation, 2022 – 2030 (USD Billion)
  • Chapter 8. Asia Carpets and Rugs Market – Regional Analysis
    • 8.1 Asia Carpets and Rugs Market Regional Overview
    • 8.2 Asia Carpets and Rugs Market Share, by Region, 2021 & 2030 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Asia Carpets and Rugs Market, 2022 – 2030 (USD Billion)
        • 8.11.1.1 Asia Pacific Asia Carpets and Rugs Market, by Country, 2022 – 2030 (USD Billion)
    • 8.12 Asia Pacific Asia Carpets and Rugs Market, by Type, 2022 – 2030
      • 8.12.1 Asia Pacific Asia Carpets and Rugs Market, by Type, 2022 – 2030 (USD Billion)
    • 8.13 Asia Pacific Asia Carpets and Rugs Market, by Material, 2022 – 2030
      • 8.13.1 Asia Pacific Asia Carpets and Rugs Market, by Material, 2022 – 2030 (USD Billion)
    • 8.14 Asia Pacific Asia Carpets and Rugs Market, by End-User, 2022 – 2030
      • 8.14.1 Asia Pacific Asia Carpets and Rugs Market, by End-User, 2022 – 2030 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Mohawk Industries Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Shaw Industries Group Inc.
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Inter IKEA Systems B.V.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Beaulieu International Group
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Engineered Floors LLC
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Taekett
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Genie Carpet Manufacturers
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Dixie Group Inc.
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Orientals Weavers
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Tai Ping
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Victoria PL.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
List Of Figures

Figures No 1 to 26

List Of Tables

Tables No 1 to 53

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component
  • List of the prominent players in the Asia-Pacific carpets and rugs market:

    • Mohawk Industries, Inc.
    • Shaw Industries Group Inc.,
    • Inter IKEA Systems B.V.
    • Beaulieu International Group
    • Engineered Floors LLC
    • Taekett
    • Genie Carpet Manufacturers
    • Dixie Group, Inc.
    • Orientals Weavers
    • Tai Ping
    • Victoria PLC
    • Others

FAQs

“China” will lead the Asia-Pacific Carpets and Rugs market during the forecast period 2022 to 2030.

The key factors driving the market are increase in construction and renovation activities that accelerate the market’s growth.

The key players operating in the Asia-Pacific Carpets and Rugs market are Mohawk Industries Inc., Shaw Industries Group Inc., Inter IKEA Systems B.V., Beaulieu International Group, Engineered Floors LLC, Taekett, Genie Carpet Manufacturers, Dixie Group Inc., Orientals Weavers, Tai Ping, Victoria PL.

The  Asia-Pacific Carpets and Rugs market is expanding growth with a CAGR of approximately 6.2% during the forecast period (2022 to 2030).

The Asia-Pacific Carpets and Rugs market size was valued at USD 17 Billion in 2021 and it is projected to reach around USD 29.17 Billion by 2030.

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