Greece: Tufted Carpet Market 2024

Tufted Carpet Market Size in Greece

In 2022, the Greek tufted carpet market decreased by -12.3% to $X for the first time since 2019, thus ending a two-year rising trend. In general, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +54.5% against 2017 indices. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Tufted Carpet Production in Greece

In value terms, tufted carpet production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. Tufted carpet production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tufted Carpet Exports

Exports from Greece

In 2022, the amount of tufted carpets and other tufted textile floor coverings exported from Greece contracted to X square meters, dropping by -10.2% on 2021 figures. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 30% against the previous year. As a result, the exports attained the peak of X square meters, and then dropped in the following year.

In value terms, tufted carpet exports shrank to $X in 2022. Overall, exports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of 30%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X square meters), Russia (X square meters) and Finland (X square meters) were the main destinations of tufted carpet exports from Greece, with a combined 26% share of total exports. Cyprus, Germany, Japan, Bulgaria, the United Arab Emirates, Bosnia and Herzegovina, Canada, Ireland, Italy and the Netherlands lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +69.4%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), the UK ($X) and Finland ($X) were the largest markets for tufted carpet exported from Greece worldwide, together comprising 26% of total exports. Bulgaria, Russia, Germany, Japan, the Netherlands, Canada, the United Arab Emirates, Ireland, Bosnia and Herzegovina and Italy lagged somewhat behind, together comprising a further 45%.

The United Arab Emirates, with a CAGR of +61.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tufted carpet export price stood at $X per square meter in 2022, dropping by -3.6% against the previous year. Overall, the export price saw a noticeable curtailment. The pace of growth was the most pronounced in 2020 an increase of 6.6% against the previous year. Over the period under review, the average export prices attained the maximum at $X per square meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per square meter), while the average price for exports to Italy ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (-0.4%), while the prices for the other major destinations experienced a decline.

Tufted Carpet Imports

Imports into Greece

Tufted carpet imports into Greece declined to X square meters in 2022, falling by -12.4% on the year before. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 56%. Over the period under review, imports hit record highs at X square meters in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, tufted carpet imports shrank to $X in 2022. In general, total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 56%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

China (X square meters), Turkey (X square meters) and Vietnam (X square meters) were the main suppliers of tufted carpet imports to Greece, with a combined 59% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +113.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tufted carpet suppliers to Greece were China ($X), Turkey ($X) and Vietnam ($X), with a combined 50% share of total imports.

Vietnam, with a CAGR of +128.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tufted carpet import price amounted to $X per square meter, stabilizing at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 15% against the previous year. The import price 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 origin: amid the top importers, the country with the highest price was India ($X per square meter), while the price for Austria ($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 Vietnam (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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