India: Carpet Market 2024

Carpet Market Size in India

The Indian carpet market reached $X in 2022, rising by X% against the previous year. 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. Carpet consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Carpet Production in India

In value terms, carpet production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. Carpet production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Carpet Exports

Exports from India

After two years of growth, overseas shipments of carpets and other textile floor coverings decreased by X% to X square meters in 2022. In general, total exports indicated measured growth 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. Based on 2022 figures, exports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X square meters, and then contracted sharply in the following year.

In value terms, carpet exports contracted to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

The United States (X square meters) was the main destination for carpet exports from India, with a X% share of total exports. Moreover, carpet exports to the United States exceeded the volume sent to the second major destination, Germany (X square meters), eightfold. The UK (X square meters) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the UK (X% per year).

In value terms, the United States ($X) remains the key foreign market for carpets and other textile floor coverings exports from India, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average carpet export price amounted to $X per square meter, picking up by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per square meter in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per square meter), while the average price for exports to Brazil ($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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Carpet Imports

Imports into India

Carpet imports into India skyrocketed to X square meters in 2022, jumping by X% compared with 2021. Overall, imports recorded a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, carpet imports soared to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value 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. Based on 2022 figures, imports increased by X% against 2020 indices. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X square meters) constituted the largest supplier of carpet to India, with a X% share of total imports. Moreover, carpet imports from Vietnam exceeded the figures recorded by the second-largest supplier, China (X square meters), threefold. The third position in this ranking was taken by Turkey (X square meters), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Turkey (X% per year).

In value terms, Vietnam ($X), China ($X) and Thailand ($X) appeared to be the largest carpet suppliers to India, with a combined X% share of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw the highest growth rate of 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 average carpet import price stood at $X per square meter in 2022, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The import price peaked at $X per square meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while the price for Nepal ($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 Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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