Eastern Asia: Carpet Market 2024

Carpet Market Size in Eastern Asia

In 2022, the East Asian carpet market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. The market value 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. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Carpet Production in Eastern Asia

In value terms, carpet production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Carpet Exports

Exports in Eastern Asia

After two years of growth, overseas shipments of carpets and other textile floor coverings decreased by X% to X square meters in 2022. Over the period under review, exports recorded a abrupt slump. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports reached the maximum at X square meters in 2021, and then reduced dramatically in the following year.

In value terms, carpet exports fell notably to $X in 2022. Overall, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

China prevails in exports structure, amounting to X square meters, which was near X% of total exports in 2022. Japan (X square meters) and South Korea (X square meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to carpet exports from China stood at X%. Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest carpet supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per square meter in 2022, rising by X% against the previous year. In general, the export price, however, recorded a mild decrease. Over the period under review, the export prices attained the peak figure at $X per square meter in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per square meter), while China ($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 South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Carpet Imports

Imports in Eastern Asia

In 2022, imports of carpets and other textile floor coverings in Eastern Asia shrank to X square meters, dropping by X% compared with the previous year. Over the period under review, imports continue to indicate a mild downturn. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked at X square meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, carpet imports reduced to $X in 2022. In general, imports recorded a noticeable slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X square meters) represented the main importer of carpets and other textile floor coverings, committing X% of total imports. It was distantly followed by South Korea (X square meters), China (X square meters) and Taiwan (Chinese) (X square meters), together generating a X% share of total imports. Hong Kong SAR (X square meters) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of carpets and other textile floor coverings. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) and China (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) and Japan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported carpets and other textile floor coverings in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and China (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per square meter in 2022, standing approx. at the previous year. Overall, the import price saw a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked at $X per square meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per square meter), while Taiwan (Chinese) ($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 China (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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