Carpet Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast to 2022


The global carpet market is expected to witness significant growth over the forecast period owing to rising new trends and growing innovations in construction solutions and floor designs. Furthermore, increasing end user demand from commercial, residential, and industrial sectors coupled with rising awareness regarding carpet benefits is anticipated to drive the market growth over the next eight years. In addition, the growing adoption of carpet for its functional and aesthetic properties is further projected to propel the sector demand over the forecast period.


The market is projected to witness proliferated demand over the next eight years owing to Increasing application in homes or offices for decoration, rising demand during cold climate to maintain the warm temperature and growing technological adoption for manufacturing eco-friendly flooring materials including linoleum, glass, bamboo, rubber, Polyester (P.E.T) Berber and reclaimed hardwood. However, growing stringent regulation imposed on manufacturers due to rising environmental concerns coupled with increasing fluctuation in the raw material prices has enabled the market to witness hindered growth over the next eight years.


The market is segmented by product into non-resilient Flooring, resilient flooring, soft coverings and seamless flooring. Soft covering segment was accounted for more than 50% market share in 2015 and expected to witness similar trend over the next eight years owing to its rising awareness regarding its benefits such as dust-binding characteristics, noise-reducing effect, and good insulation for providing comfort, aesthetic and warmth. Resilient flooring segment is anticipated to report the fastest growth over the forecasted period owing to increasing demand for its products such as rubber, asphalt and vinyl. Furthermore, rising adoption by end user industries primarily due to its characteristics including waterproof, durability, cost-effective and low-maintenance has enabled the market to witness significant demand over the next eight years.
The carpet market is highly competitive primarily to the presence of several domestic and international suppliers. Though, the sector has the presence of various new players, who face difficulty in competing with other major companies in terms of functionalities, features, quality, and services. Over the forecast period, the growing new product development activities coupled with increasing adoption of new technologies for achieving operational efficiency has enabled the competition to become more aggressive. On a contrary, few major players through continuous R&D endeavors coupled with growing expertise knowledge in the industry have enabled them to witness competitive edge, thus propelling the overall growth of the sector over the next eight years.
North America and Europe are anticipated to witness major market share over the forecast period owing to the growing real-estate industry and surging infrastructure facilities. The US, France, Germany and the UK are expected to witness proliferated demand of carpets majorly due to rising applications from non-residential and residential build spaces.  Asia Pacific is anticipated to account for fastest growth over the forecast period primarily due to the growing easy installation techniques coupled with increasing adoption of innovative construction solutions. India, China, and Japan are anticipated to witness the highest share in the region majorly owing to the rising disposable income coupled with growing foreign investments. The Middle East & Africa is projected to see significant growth by 2020 mainly owing to increasing urbanization, industrialization, and globalization. The sector has huge potential in this region primarily owing to rising per capita income and foreign investments.
Key players in the market include Mannington Mills Inc, Mohawk, Gerflor, Armstrong, and Shaw Floors. The market is highly consolidated having more than 50% market share by major companies. The major players generally tend to collaborate with smaller companies to increase market share and thus gaining competitive advantage. These players through continuous R&D endeavors focus on building a wide distribution network that supports the overall market to report significant growth over the forecast period. Companies through strategic expansions and mergers & acquisitions have been trying to cater large volume of customers with products that are cost-effective and high quality.

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