Carpet And Rug Market - U.S. Carpet Market Enjoys a Rebound
Early American carpet industry was struggling with the competition of imported goods. Initially it operated mainly on technologies borrowed from the United Kingdom, but its further development was based on southern crafts and local skills. Now the U.S. carpet industry accounts for almost half of production worldwide with about 80 percent of that manufactured in Georgia, where most of the plants are located. Carpet accounts for half of the total U.S. flooring market.
Quite recently, domestically made rugs met sluggish, almost stagnant demand. Imports, making up the largest market share, on the contrary, boosted. Local manufacturers shifted their focus to individual consumers, increasing the quality of composition and final product. Eventually, the rug sector advanced in sales, keeping the gain patterns upturned for the fourth straight year.
Several reasons ranging from thriving residential market sales to a relatively potent commercial sector allowed the carpet and rug industry to redeem itself in terms of both production and sales. The market rise was surprisingly continuing, and total volumes of carpet production were also creeping up. The improvement, however slow, was not previously observed for about a decade. This, along with other positive markers, indicated the industry's first steps toward recovery.
American carpet industry today is practically divided between several largest companies from Georgia, which is the center of the U.S. carpet production. As carpet and rug slipped in market share, said companies introduced other flooring-related products. Yet, carpets are still the preferred flooring solution for the majority of Americans.
China and India were the main suppliers on the carpet and rug market into the U.S., with a combined share of 55% of total U.S. imports in 2014. However, the fastest growing suppliers were Turkey (+19.6% per year) and Pakistan (+6.1% per year) in total imports from 2007 to 2014. Turkey strengthened its position in the U.S. import structure, from 4% in 2007 to 13% in 2014.
In 2014, the main destinations of U.S. carpet and rug exports were Canada (54.1%) and, distantly, Mexico (23.2%). The share exported to Mexico increased (+5 percentage points), while the share sent to Canada illustrated negative dynamics (-4 percentage points). The shares of the other countries remained relatively stable throughout the analyzed period.
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