Asia: Carpet Market 2023

Carpet Market Size in Asia

The Asian carpet market shrank notably to $X in 2022, falling by X% against the previous year. In general, consumption showed a remarkable increase. As a result, consumption reached the peak level of $X, and then shrank sharply in the following year.

Carpet Production in Asia

In value terms, carpet production fell to $X in 2022 estimated in export price. Overall, production, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Carpet Exports

Exports in Asia

After six years of growth, overseas shipments of carpets and other textile floor coverings decreased by X% to X square meters in 2022. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X square meters in 2021, and then fell notably in the following year.

In value terms, carpet exports fell remarkably to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.

Exports by Country

In 2022, Turkey (X square meters) was the key exporter of carpets and other textile floor coverings, making up X% of total exports. India (X square meters) ranks second in terms of the total exports with a X% share, followed by China (X%). The following exporters - Vietnam (X square meters), Iran (X square meters) and the United Arab Emirates (X square meters) - together made up X% of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%), the United Arab Emirates (X%) and India (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Iran experienced a relatively flat trend pattern. By contrast, China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Vietnam increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), India ($X) and China ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Iran, Vietnam and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per square meter, rising by X% against the previous year. In general, the export price, however, showed a perceptible descent. Over the period under review, the export prices hit record highs at $X per square meter in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per square meter), while Turkey ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced a decline in the export price figures.

Carpet Imports

Imports in Asia

In 2022, approx. X square meters of carpets and other textile floor coverings were imported in Asia; declining by X% against the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of import peaked at X square meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, carpet imports fell to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of carpet imports in 2022 were Saudi Arabia (X square meters), Iraq (X square meters) and Japan (X square meters), together finishing at X% of total import. India (X square meters) took the next position in the ranking, followed by Malaysia (X square meters). All these countries together held near X% share of total imports. The United Arab Emirates (X square meters), Kuwait (X square meters), South Korea (X square meters), Afghanistan (X square meters), Israel (X square meters), Iran (X square meters), Kazakhstan (X square meters) and Singapore (X square meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest carpet importing markets in Asia were Japan ($X), Saudi Arabia ($X) and Iraq ($X), together comprising X% of total imports. The United Arab Emirates, India, Malaysia, South Korea, Kuwait, Israel, Kazakhstan, Afghanistan, Singapore and Iran lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per square meter in 2022, almost unchanged from the previous year. Over the period under review, the import price, however, showed a pronounced descent. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per square meter in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while Iran ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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