Carpet Market

Carpet Market Size by Material (Nylon, Olefin, Polyester and Others), Price Point (Economy and Luxury), End User (Residential and Commercial), Sales Channel (Supermarkets and Hypermarkets, Specialty Stores and Online Stores), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14092
  • Published Date: Feb, 2024
  • Pages: 238
  • Category: Consumer Goods
  • Format: PDF
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The global Carpet market generated USD 72.39 billion revenue in 2023 and is projected to grow at a CAGR of 4.35% from 2024 to 2033. The market is expected to reach USD 110.82 billion by 2033. The improving disposable income of the middle class is driving the growth of the global carpet market. The increasing disposable income influences consumers to spend more on home decor. The ongoing technological advancements and innovations in carpet manufacturing further boost the market's demand. Additionally, the surge in online retail and e-commerce platforms, coupled with favourable regulatory standards and policies, contributes enormously to the expansion of the market.

Market Introduction:

A carpet is a floor/surface cover (textile) comprising a pile of fibers attached to a backing material. This textile flooring product is known for its diverse materials, styles, and colours, making it a popular choice in residential and commercial settings. Carpets provide various benefits, such as adding warmth and comfort to spaces, dampening noise, and contributing to the overall aesthetic of a room. The construction of a carpet typically involves weaving or tufting fibers into a backing material, creating a surface with a soft and cushioned feel underfoot. Carpets are available in natural fibers like wool and synthetic materials like nylon, polyester, or polypropylene. Selecting a particular carpet type depends on durability, maintenance requirements, and the desired visual effect for a specific environment. Whether used for decorative purposes in homes or for practical purposes in commercial spaces, carpets play a significant role in interior design and contribute to an area's overall ambience and comfort.

Carpet Market Size

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Recent Development
  • In October 2023: Milliken & Company, a globally diversified manufacturer, has strategically funded in Orak. Orak is a well-known Paris-based company specializing in carpet maintenance and flooring reuse activities. This collaboration represents a pivotal step towards advancing sustainable solutions in the floor covering sector and revolutionizing the perception of waste and circular economy practices. Orak's acclaimed Optimal Karpet line, featuring upcycled premium carpet tiles, has swiftly emerged as the preferred choice for environmentally-conscious customers looking to minimize the carbon footprint of their construction and renovation projects. With Milliken's significant investment and collaboration, Orak is poised to enhance and diversify its product offerings, catering to a wider spectrum of customers. This expansion involves overseeing all stages in the lifespan of clients' carpets, ensuring top-notch quality and facilitating effective reuse. Due to this collaboration, Milliken's customers can now use Orak's upcycled carpet tiles.
  • In September 2022: Jacaranda, a U.K.-based rugs and carpet brand, has partnered with Tencel to introduce Seoni, a groundbreaking collection of handwoven rugs and carpets. This innovative range is crafted exclusively from 100% true carbon-zero Tencel lyocell fibers, presenting a pioneering approach to enhancing the sustainability of home decorations and furnishings. The collaboration between Jacaranda and Tencel marks a significant step forward in offering eco-friendly options for consumers who prioritize environmentally conscious choices in their interior design and decor.
  • In February 2022: Mannington Mills, Inc. has disclosed its recent acquisition of Georgia Carpet Finishers, Inc., headquartered in Chatsworth, Georgia. This firm provides carpet backing to various residential, hospitality, and turf industries. Additionally, Georgia Carpet Finishers, Inc. is known for its production of high-density polyurethane cushions. This strategic acquisition helps Mannington Mills, Inc. boost its capabilities and strengthen its market position.

Market Dynamics:

Drivers

Increasing Construction Activities - The growth in construction and real estate activities directly impacts the demand for carpets. As more residential and commercial projects are constructed, the requirement for flooring solutions, including carpets, rises.

Rising Urbanization - Urbanization increases the number of homes and commercial spaces, driving the demand for carpets. Urban lifestyles often prioritize interior aesthetics, contributing to the growth of the carpet market.

Consumer Preferences and Lifestyle Changes - Changing consumer preferences towards interior design and home decor play a crucial role in the carpet market. As consumers seek personalized and stylish flooring options, the demand for innovative and aesthetically pleasing carpets increases.

Restraints:

Market Saturation - In some regions, the carpet market may experience saturation, with many existing carpet installations. This factor can limit new sales and growth opportunities, especially in mature markets.

Competition from Alternative Flooring Options - Carpets compete with alternative flooring options such as hardwood, laminate, vinyl, and tiles. Consumer preferences for these alternatives, driven by ease of maintenance and changing design trends, can restrain the carpet market.

Opportunities:

Rising Demand for Sustainable Products - Growing environmental awareness allows the carpet market to develop and promote sustainable, eco-friendly products. Manufacturers can focus on using recycled materials, reducing carbon footprints, and adopting environmentally friendly production processes.

Innovation in Materials and Technology - Opportunities exist for carpet manufacturers to invest in research and development, leading to innovations in materials and technology. This aspect includes the development of stain-resistant, durable, and low-maintenance carpets that meet evolving consumer preferences.

Customization and Personalization Trends - Consumer demand for personalized and unique flooring options provides an opportunity for the carpet market to offer customizable products. This factor may include a variety of colours, textures, and designs that cater to individual preferences and interior design trends.

Challenges:

Maintenance and Cleanliness Issues - Carpets require regular maintenance, and concerns about cleanliness, allergens, and the accumulation of dust and debris can deter some consumers. This challenge requires the industry to develop and promote easy-to-maintain and hygienic carpet solutions.

Global Trade Uncertainties - Trade tensions, tariffs, and uncertainties in global trade relations can affect the carpet market. Changes in trade policies may disrupt supply chains, impact production costs, and influence the competitiveness of carpet products in the international market.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most prominent global Carpet market, with a 42.57% market revenue share in 2023.

North America has a significant and established demand for carpets, driven by a large population and a culture that places importance on home aesthetics and interior design. Consumer preferences for soft flooring solutions contribute to the dominance of carpets in the region. Furthermore, the robust construction industry in North America, both residential and commercial, plays a pivotal role in sustaining the carpet market. New construction projects and renovations often involve carpets, boosting regional demand. Additionally, the cultural inclination towards carpets as a popular flooring choice in homes and offices has contributed to their dominance. Carpets are usually associated with comfort, warmness, and interior cosiness, aligning with North American lifestyle preferences. Moreover, interior design trends in North America often prioritize using carpets for their aesthetic appeal and ability to enhance a space's overall look and feel. This trend-driven market dynamic has fueled sustained demand for various carpet styles. The carpet industry in North America also offers various products catering to different consumer preferences and needs. This diversity includes various materials, designs, and functionalities, allowing consumers to find carpets that meet their specific requirements. Besides, North America has a well-established and technologically advanced carpet manufacturing base. The presence of numerous large and small carpet manufacturers allows for a competitive market that can satisfy the need for a wide range of carpet products.

North America Region Carpet Market Share in 2023 - 42.57%

 

North America

42.57

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Material Segment Analysis

The material segment is divided into nylon, olefin, polyester and others. The nylon segment dominated the market, with a share of around 45.18% in 2023. Nylon is known for its exceptional durability and longevity, making it a popular carpet choice. Its capability to withstand weighty foot traffic and resist wear and tear over time contributes to its dominance in the market. Nylon carpets are highly resilient and elastic, allowing them to recover shape after pressure or compression. This property enhances the carpet's ability to maintain its appearance and withstand the impact of furniture and foot traffic. In addition, nylon carpets often come with stain-resistant treatments, making them suitable for households and commercial spaces where spills are likely to occur. The stain resistance adds to the overall appeal of nylon carpets, particularly in areas prone to accidents.

Price Point Segment Analysis

The price point segment is split into economy and luxury. The economy segment dominated the market, with a share of around 72.41% in 2023. Economy-priced carpets are known for their affordability, making them accessible to many consumers. The cost-effectiveness of these carpets appeals to budget-conscious buyers and those looking for economical flooring solutions. Furthermore, economy-priced carpets have a broad mass appeal, attracting a large market segment. The market's sheer size for affordable carpets contributes to their dominance, as they cater to a diverse consumer base with varying budget constraints. Additionally, economy-priced carpets are in high demand in the residential market, especially for homeowners and renters on a budget. These carpets provide an economical way to enhance the aesthetics and comfort of living spaces without a significant financial investment.

End User Segment Analysis

The end user segment is classified into residential and commercial. The residential segment dominated the market, with a share of around 54.72% in 2023. Carpets play a vital role in enhancing the aesthetics and comfort of residential spaces. Homeowners often prioritize creating a cosy and visually appealing environment, making carpets popular for flooring in bedrooms, living rooms, and other common areas. Most importantly, residential consumers prefer soft flooring, and carpets provide a comfortable, warm, underfoot experience. The desire for a comfortable living environment drives the demand for home carpets. In addition, carpets offer a wide range of design options, patterns, and colours, allowing homeowners to personalize their living spaces. The versatility in design caters to diverse aesthetic preferences, making carpets a popular choice for residential settings.

Sales Channel Segment Analysis

The sales channel segment is split into supermarkets and hypermarkets, specialty stores and online stores. The specialty stores segment dominated the market, with a share of around 62.38% in 2023. Specialty stores focus specifically on flooring and carpet products, allowing them to develop expertise in the industry. Consumers often prefer carpets from knowledgeable and specialized retailers who can provide expert guidance on product selection, installation, and maintenance. Furthermore, specialty stores typically offer various carpet options, including materials, styles, colours, and patterns. The extensive product selection allows consumers to find carpets that suit their specific preferences and requirements, contributing to the dominance of specialty stores. Specialty stores also prioritize customer service and often employ knowledgeable teams to help customers make informed decisions. The availability of expert guidance and personalized assistance enhances the overall shopping experience for consumers looking to buy carpets.

Some of the Key Market Players:
  • Armstrong Flooring Inc.
  • Balta Group
  • Beaulieu International Group
  • Brumark
  • Dorsett Industries
  • Interface Inc.
  • Jacaranda Carpets & Rugs Ltd.
  • Mannington Mills Inc.
  • Milliken & Company
  • Marvic Textiles
  • Mohawk Industries Inc.
  • Oriental Weavers Carpet Co.
  • Obeetee
  • Shaw Industries Group Inc.
  • Tarkett
  • The Dixie Group
  • Trident Group
  • Tai Ping Carpets International Limited
  • Victoria PLC.
  • Welspun Group

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 72.39 Billion
Market size value in 2033 USD 110.82 Billion
CAGR (2024 to 2033) 4.35%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Material, Price Point, End User and Sales Channel

Frequesntly Asked Questions

As per The Brainy Insights, the size of the carpet market was valued at USD 72.39 billion in 2023 to USD 110.82 billion by 2033.

The global carpet market is growing at a CAGR of 4.35% during the forecast period 2024-2033.

North America became the largest market for carpet.

Increasing construction activities and rising urbanization drive the market's growth.

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This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global carpet market based on below-mentioned segments:

Global Carpet Market by Material:

  • Nylon       
  • Olefin
  • Polyester
  • Others

Global Carpet Market by Price Point:

  • Economy      
  • Luxury            

Global Carpet Market by End User:

  • Residential      
  • Commercial

Global Carpet Market by Sales Channel:

  • Supermarkets and Hypermarkets
  • Specialty Stores                 
  • Online Stores

Global Carpet Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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